Executive Summary

• By 2020, there will be approximately 25 billion IoT-enabled devices, 13 billion of them in the consumer electronics segment, says Gartner Research.
• Consumers across demographics are excited about owning a smart home.
• The key drivers in smart home adoption are home security, energy efficiency, entertainment, convenience/productivity, connectivity and health monitoring.
• The industry is marked by strategic collaboration between the IT giants and the rise of startups which develop popular smart devices.
• Interoperability between devices and the high cost of adoption are two issues to be resolved for the market to develop further.