LONDON, July 2, 2024 /PRNewswire/ -- The smart home
market is growing steadily and transitioning from novelty
implementations to mass adoption - new product ranges and
professional subscription services are evolving to ease adoption
and expand the consumer base to retrofit installations and new home
developments. According to a new report from global technology
intelligence firm ABI Research, smart home device
shipments for energy management, specifically smart thermostats,
smart lights, and smart plugs, will grow from 230.9 million in 2024
to over 584 million in 2030.
"Western European households will lead the adoption of energy
efficiency smart home devices, followed closely by North American
households. The rate and speed of adoption depends on many factors
such as increased household Wi-Fi connectivity, device price
points, installation type, and customer service," explains Rithika
Thomas, Sustainable Technologies Senior Analyst at ABI Research.
"Global energy regulations, eco bonuses, and subsidies in
Europe (particularly in
France, Germany, and Italy) will additionally drive adoption during
the forecast period and open opportunities in retrofit markets,
which will surpass new builds."
Legacy, big-name brands are strengthening their offerings by
acquiring smaller companies with niche expertise as the fragmented
smart home industry matures. Currently, the ecosystem is
fragmented, with no dominant overall players and a significant
disconnect between product marketing, market hype, consumer
adoption, and purchasing power. Data privacy, security,
sustainability, convenience, energy savings, and interoperability
with existing devices are strategic considerations vendors use to
drive customer satisfaction and ensure vendor stickiness. The smart
thermostats sector will have the highest impact on residential
energy consumption, with over 45% adoption in Western European and
North American households, amounting to 67.2 million devices
shipped globally by 2030.
Google, Honeywell, Amazon, and Ecobee represent more than
60% of the global market share for smart thermostats with an
installed base predominantly in single-family residential homes.
Other smart thermostat vendors include Carrier, Schneider
Electric, Netamo, Samsung, Siemens, and LeGrand & Tado
GMbh.
"As the smart home market matures, consumers are becoming tech
savvy and comparing product performance - vendors need to
prioritize customer engagement, ease of installation, demonstrate
use cases, adopt Artificial Intelligence (AI), Machine Learning
(ML), and data analytics to enhance the user experience without
being intrusive to stay ahead of the game," Thomas concludes.
These findings are from ABI Research's Smart Home Hardware for
Energy Management report. This report is part of the company's
Smart Buildings and Consumer Technologies research services,
which includes research, data, and analyst insights.
About ABI Research
ABI Research is a global technology intelligence firm uniquely
positioned at the intersection of technology solution providers and
end-market companies. We serve as the bridge that seamlessly
connects these two segments by providing exclusive research and
expert guidance to drive successful technology implementations and
deliver strategies proven to attract and retain customers.
ABI
Research是一家全球性的技术情报公司，拥有得天独厚的优势，充当终端市场公司和技术解决方案提供商之间的桥梁，通过提供独家研究和专业性指导，推动成功的技术实施和提供经证明可吸引和留住客户的战略，无缝连接这两大主体。
For more information about ABI Research's services, contact us
at +1.516.624.2500 in the Americas, +44.203.326.0140 in
Europe, +65.6592.0290 in
Asia-Pacific, or
visit www.abiresearch.com.
Contact Info:
Global
Deborah Petrara
Tel:
+1.516.624.2558
pr@abiresearch.com
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