SAN DIEGO — Safety and security are the primary smart home adoption drivers for U.S. consumers, according to global technology research firm ON World.
“Bundling smart home services along with traditional security and safety systems has created a rapidly growing IoT [Internet of Things] ecosystem,” said Mareca Hatler, research director, ON World.
ON World’s recently completed survey with 1,000 U.S. online adults found that 46 percent of respondents selected safety and security as the primary reasons they would adopt a smart home system. This is nearly two times more than other adoption considerations, including energy savings, remote Web access, and smart lighting.
ON World’s evaluation of 560 smart home products found that safety and security products currently make up 30 percent of all equipment. The fastest-growing product segments include video security cameras, smart doorbells, and smart smoke detectors that together have increased sales by 162 percent over the past year.
By 2020, there will be more than 37 million safety and security systems installed in smart homes worldwide generating $13 billion in annual revenue.
ON World’s report, “Smart Home Safety and Security,” covers the global IP security/smart home market including safety, security, HVAC and energy, lighting controls, and others, as well as 12 smart home safety and security product segments for the managed services, retail/DIY, and professional installer channels. It includes results from the recently completed survey; a competitive analysis; and six-year forecasts for installed systems, devices, and revenues, by market; revenues by equipment, software/services, and geographical region; and annual unit shipments by market, product segment, and technology.
More information, and a free executive summary, is available at onworld.com/smarthomesecurity.
Publication date: 12/7/2015
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