Homes will change more over the next 20 years than they did during the past hundred. The next generation home, the Transformational Smart Home, is emerging and will transform life inside homes and reshape the world of consumer services and citizen interactions. In its latest research, global tech market advisory firm ABI Research outlines six major smart home concepts that will drive Transformational Smart Home investment and adoption.
“Smart home capabilities are already becoming central to residents’ daily lives. A swathe of new and emerging technologies will increasingly extend and strengthen that position through enabling a wide range of interconnected services within the home and beyond,” says Jonathan Collins, Smart Home Research Director at ABI Research. Alongside technological development, social, environmental, financial, and even political change will bring critical mass to speed smart home development and value.
The six key concepts, detailed in the report are:
The push to monetize the rich potential of the Transformative Smart Home will drive the adoption of a wide range of new and emerging technologies. New capabilities across sensing, connectivity, AI, robotics, and more will be leveraged. In addition, an ecosystem of smart home service companies will emerge to assist and manage how new and existing vendors and industries extend the reach of their smart home plays.
“For some, the smart home future seems to be whatever a handful of global consumer technology giants, including Amazon and Google, decide to make it. But that underestimates the wave of change coming to the smart home market and the opportunities that lie beyond the scope of even today’s largest smart home players,” says Collins.
Investment in enabling the Transformational Smart Home is evident among consumers and vendors alike. Even among the unprecedented consumer upheaval of 2020, the smart home market will deliver 4% growth. ABI Research estimates that between 2020 and 2026, global smart home spending will grow at a 24.4% CAGR to US$317.6 billion.
These findings are from ABI Research’s The Transformational Smart Home application analysis report. This report is part of the company’s Smart Home research service, which includes research, data, and ABI Insights. Based on extensive primary interviews, Application Analysis reports present in-depth analysis on key market trends and factors for a specific technology.
About ABI Research
ABI Research is a global technology intelligence firm delivering actionable research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the transformative technologies that are dramatically reshaping industries, economies, and workforces today.
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