Smart home platform adoption is being driven by a variety of
stakeholders, report finds

BOULDER, Colo.–(BUSINESS WIRE)–#EnergyCloud–A new report from Navigant
Research examines the global smart home market, with a focus on
residential Internet of Things (IoT) hardware, software, services, and
smart home platforms, with market forecasts through 2026.

Residential consumers are becoming increasingly aware of smart home
technologies, thanks to the prevalence of platforms like Amazon Echo,
Google Home, and Apple HomeKit. Vendors are ramping up investment in the
smart home concept and marketing to consumers, as home builders are
integrating products into new construction. Click
to tweet: According to a new report from @NavigantRSRCH,
global smart home platform revenue is expected to increase from $4.2
billion in 2017 to $39.5 billion in 2026.

“The concept of a smart home has the potential to revolutionize the way
we interact with our homes and the grid,” says Paige Leuschner, research
analyst with Navigant Research. “Homes that act intuitively and
intelligently through a comprehensive ecosystem of hardware, software,
and services not only enrich consumers’ lives, but also play a role in
the transition to the Energy Cloud.”

As a key component of the digital grid and the future of the residential
IoT, smart home platform adoption is being driven by tech incumbents,
telecommunications providers, security providers, and energy suppliers.
According to the report, these stakeholders are using their existing
footprint to engage in the smart home market, increasing the number of
devices available and creating new applications for data streams.

The report, The
Smart Home, analyzes the global smart home market, with a focus
on residential IoT hardware, software, and services and smart home
platforms. The study provides an analysis of the market issues,
including value propositions, market channels, and drivers and barriers,
related to the smart home. Global market forecasts, segmented by region,
device type, and segment, extend through 2026. The report also examines
the key devices and technologies associated with the smart home, as well
as the competitive landscape. An Executive Summary of the report is
available for free download on the Navigant
Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.

* The information contained in this press release concerning the
report, The Smart Home, is a summary and reflects Navigant
Research’s current expectations based on market data and trend analysis.
Market predictions and expectations are inherently uncertain and actual
results may differ materially from those contained in this press release
or the report. Please refer to the full report for a complete
understanding of the assumptions underlying the report’s conclusions and
the methodologies used to create the report. Neither Navigant Research
nor Navigant undertakes any obligation to update any of the information
contained in this press release or the report.

Contacts

Navigant Research
Lindsay Funicello-Paul, +1-781-270-8456
[email protected]