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Connected Products Driving Smart Home Growth

January 24, 2017

home automation

consumer electronics

Security Systems News

Following Parks Associates’ research that came out of the Consumer Electronics Show earlier this month showing approximately 26 percent of U.S. broadband households today now own a smart home device—up from 19 percent at the end of 2015—several more studies on the growth of the smart home have popped up.

For example, a new report out this week from Zion Market Research, titled “Smart Home Market: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022,” finds that the global smart home market—valued at around $24.10 billion in 2016—is expected to reach approximately $53.45 billion in 2022, growing at a CAGR of slightly above 14.5 percent between 2017 and 2022.

From the article "Connected Products Driving Smart Home Growth" by Paul Ragusa.

Previously In The News

Why The World Swipes Right On TV

In the next decade, uptake and engagement is only expected to increase, with Parks Associates reporting that Smart TV adoption is set to increase by 31 percent each year. It seems the TV is very much...

Briefs: CES, Universal Electronics, BT, Parks Associates

“Health and wellness applications and services will play a large role in the smart home in 2017, driving innovations in security, wearables, and interoperability,” Harry Wang, senior director of resea...

Z-Wave Alliance Announces Board Member and New Security Mandate

"Ownership of smart home devices continues to increase, with some products passing 10 percent penetration in broadband households," Stuart Sikes, president at the research firm Parks Associates, obser...

IoT Issues to Be Addressed at CES 2017

“Parks Associates research estimates there will be nearly seven million new Western European households with a smart home controller in 2016,” Tom Kerber, director, IoT strategy at Parks Associates, s...

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