Insight Report 13 minutes Premium

Connected Home Series Wrap-up

Executive Summary

  • The global smart home market is estimated to reach $43.0 billion in 2020, according to Statista.
  • The most important drivers for smart home adoption are household Internet connectivity and smartphone ownership.
  • By 2020, the percentage of global households with Internet access is expected to touch 69%, and global smartphone penetration is expected to reach 75%.
  • Two key barriers to smart home adoption are interoperability of devices and vulnerability to cyber attacks.
  • Internet of Things (IoT) companies are making an effort to include more devices under a popular protocol’s umbrella of compatible products, and IoT security companies are providing customers with tools to help them secure their connected homes.

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