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India Smart Home Security Camera Shipments Grew 76% YoY in 2022; CP Plus on Top

  • The market’s shipments grew 49% YoY in Q4 2022 (October-December).
  • Shipments in the INR 2,500-INR 3,000 price band remained the highest in 2022, capturing 47% share.
  • CP Plus captured the top spot in 2022 with a 27% share as its shipments quadrupled YoY.
  • Xiaomi grew by 15% YoY to end 2022 in second position with a 19% share.
  • EZVIZ took the third spot with a 17% share and grew by 13% YoY.

 New Delhi, Boston, Toronto, London, Hong Kong, Beijing, Taipei, Seoul – March 16, 2023

India’s smart home security camera market shipments grew 76% YoY in 2022 and 49% YoY in Q4 2022 (October-December), according to the latest research from Counterpoint’s Smart Home IoT Service. Throughout 2022, the market saw a boom in demand due to increased consumer awareness and aggressive pricing strategies of companies. Due to the holiday season and the introduction of several new models in the 2MP, 3MP and 4MP categories, the market increased by more than 66% YoY in H2 2022.

Research Analyst Varun Gupta said, “In a price-sensitive market such as India, the entry-level price point of smart cameras (INR 1,500 or ~$18) also creates a big demand pull. Shipments in the INR 2,500-INR 3,000 price band remained the highest in 2022, capturing 47% share. The discount offers around Diwali further pushed the sales in 2022. As safety remains a prime concern among consumers, the market is expected to perform well in 2023 as well. Smart cameras are gaining more popularity among small and medium retailers as they are less expensive and easy to install.”

India Smart Home Security Camera Market Share, 2021 vs 2022, Counterpoint Research

Note: Figures may not add up to 100% due to rounding

Commenting from the brand perspective, Gupta said, “We expect the market to remain consolidated in 2023, even though the top three brands currently capture a combined share of 63%. We saw new brands entering the market in 2022, which increased the competition and brought down the average selling price (ASP). In terms of features, the 2MP camera remains popular among users, but we expect the 3MP camera to gain more traction as it is becoming more affordable. Though the market remains online driven (more than 60%), the offline market has started to gain traction in the past year through efforts from major brands, especially CP Plus which has a significant offline distribution channel.”

Looking at the market segmentation, Senior Research Analyst Anshika Jain said, “The indoor smart security camera accounted for more than 75% of the total shipments, mainly driven by increased awareness and importance of indoor home security. Even residential developers are increasingly installing smart camera devices due to the hybrid work model.

India Smart Home Security Camera market summary

  • CP Plus by Aditya Infotech led the market with a 27% share, with its shipments quadrupling YoY. The brand expanded its portfolio in H2 2022 with multiple launches in 2MP, 3MP and 4MP camera sizes for indoor and outdoor applications. CP Plus leads in terms of domestic manufacturing of smart cameras. The brand has focused on its strong offline distribution channel to offer cameras across India, coupled with aggressive pricing and bundled offers.
  • Xiaomi grew 15% YoY in 2022 to capture the second spot with a 19% share. It launched a new 3MP 2K camera in Q3 to offer a more premium experience to its customers.
  • EZVIZ by Hikvision fell to the third position with a 17% market share and 13% YoY growth. The brand experienced strong demand for its indoor and outdoor cameras. It offers a diverse portfolio and banks on its expertise and dominance in the surveillance market.
  • Tapo by TP-Link continued on its growth trajectory with an impressive 97% annual growth and a 10% market share. The brand dominated online marketplaces such as Amazon and Flipkart. Tapo’s growth can also be attributed to its diversified range of products, along with aggressive pricing. The C200 remained the brand’s bestseller smart camera in 2022.
  • Imou by Dahua Technologies was the second fastest-growing brand in 2022 with an 8% market share. Its Ranger series of cameras has been performing well on online platforms.
  • Qubo by Hero Electronix saw a 24% YoY rise in shipments in 2022 with a 7% market share. It was the second Indian brand among the top five players and has a focus on local manufacturing. Qubo performed well on online channels during the festive season. The Home Cam 360 Indoor camera was one of its bestsellers.

Other emerging brands

  • Kent grew by 19% YoY to end up in the top-10 list for 2022. The brand offers only two camera SKUs as of now, but it has performed well on online channels and is also present in offline retail stores. All the SKUs are being made in India. We expect the brand to expand its portfolio this year.
  • realme took a spot in the top-10 list for 2022 with a 38% YoY growth. It offers only one model as of now, but given its rising popularity as a brand, it is expected to offer more SKUs in the future to cater to different audiences.
  • Airtel entered the market in late Q3 2022 with a focus on providing its large broadband customer base with smart home products. It is the only brand to offer the devices through its channels only.
  • Zebronics experienced a decline of 32% YoY in 2022. The lack of consumer awareness around its offerings and its products not being updated with the latest features were the key reasons for this decline.

Background

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media, and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects, and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry.

Analyst Contacts

Varun Gupta

Anshika Jain

Counterpoint Research


press(at)counterpointresearch.com

Related Post

Top 10 IoT Announcements at CES 2023

At the first full-fledged CES event after the pandemic, the excitement was palpable. The event did not disappoint in terms of the variety of announcements across the internet of things (IoT) spectrum. Our teams, both on-ground and online, tracked over 260 announcements made by over 240 companies covering a range of segments across consumer, enterprise and industrial.

Devices formed the most popular category, with three out of every five announcements relating to this segment. As expected, the consumer and smart home sectors took center stage, but it was intriguing to see new launches in industry segments such as agriculture. Additionally, smart home,  metaverse, augmented reality, healthcare and robotics were among the most talked about segments, attracting large crowds.

CES IoT Trend Counterpoint

Here are the top 10 IoT announcements from this year’s CES, according to Counterpoint analysts:

1. Wi-Fi: MediaTek launches Genio 700, Wi-Fi 7 products

MediaTek introduced the Genio 700 IoT chipset targeting industrial, smart home and smart retail applications. This chipset will be available by Q2 2023. MediaTek also showcased Wi-Fi 7-supported products like gateways, mesh routers, televisions, streaming devices, smartphones, tablets and laptops partnering with TP-Link, Lenovo, Hisense, ASUS, BUFFALO INC, Skyworks, AMD, Qorvo, LitePoint and MAC MLO among others.

MediaTek is slowly diversifying its offerings beyond smartphones. The availability of products with superior capabilities and increased partnerships will help MediaTek increase its footprint in the IoT market.

MediaTek launches Genio 700, Wi-Fi 7 products Counterpoint

2. Smart Home: TP-Link expands Tapo smart home products

TP-Link unveiled new products under its Tapo line of smart home devices. These new additions include cameras, a doorbell camera, a smart video door lock, robot vacuums and a smart hub home connection center. Besides, the company also launched its first Matter-certified smart plugs, smart switches, smart outlet extenders and smart bulbs. The launch of these products at CES 2023 highlights TP-Link’s focus on expanding and diversifying its offerings in the smart home market.

The company’s adoption of the Matter protocol for its Tapo and Kasa lines of smart home products shows its commitment to making smart home technology more accessible and user-friendly.

In addition to the smart home products, TP-Link also showcased Wi-Fi 7-supported router and gateway solutions for use in homes, enterprises and ISPs. The integration of Wi-Fi 7 will improve the gaming experience, as well as increase productivity in enterprise applications.

TP-Link expands Tapo smart home products Counterpoint

3. Asset Tracking: Pod introduces paper-thin tracker with SODAQ, Lufthansa

Pod Group, in partnership with SODAQ and Lufthansa Industry, has developed a paper-thin smart label tracking device that utilizes low-power cellular connectivity (LTE-M) for a battery life of up to six months. This sustainable, eco-friendly device uses alkaline batteries instead of lithium and has the potential to revolutionize the tracking and logistics industry by improving supply chain efficiency and reducing operational costs.

Similar efforts by SODAQ with Vodafone and Bayer utilizing NB-IoT technology have been observed, but the use of Low Power Wide Area Network (LPWAN) may be more beneficial as it targets a wider range of telecommunications operators.

Pod introduces paper-thin tracker with SODAQ, Lufthansa Counterpoint

4. Sensor: Bosch showcases sensor technology

Bosch Group subsidiary Bosch Sensortec presented a variety of new sensors at CES 2023. These offerings include an AI-enabled smart sensor system, magnetometer, barometric pressure sensor, and an air quality sensor. These sensors demonstrate advancements in power efficiency, accuracy and compact size, and aim to enhance the user experience by tracking personal health and fitness, providing accurate data and prolonging battery life.

Bosch has been a leading manufacturer of micro-electromechanical system (MEMS) sensors since 1995 and has produced over 18 billion units to date. It is also investing in quantum sensors, which can provide measurements that are significantly more precise than current MEMS sensors and enable more accurate diagnosis of neurological diseases. Additionally, the company is developing angular rate sensors that use the nuclear magnetic resonance of noble gas atoms and are optically pumped. These could prove to be highly precise and stable for navigation applications. Bosch believes that sensors will play a key role in IoT and continues to make investments in this area.

Bosch showcases sensor technology Counterpoint

5. Modules: Quectel enables satellite connectivity, strengthens automotive module portfolio

Quectel is partnering with Skylo to integrate satellite connectivity into its 5G-ready BG95x/BG77x series of LPWA modules. This hybrid connectivity solution improves network coverage and makes it ideal for a variety of applications, such as trackers, wearables, smart cities and smart meters. Low-earth orbit (LEO) satellites are going to be a key for the non-terrestrial networks (NTN) coming up in 3GPP Rel17/18 in addition to the high-altitude platform system (HAPS).

Quectel also launched the AG59X series of automotive-grade 5G modules based on Qualcomm’s SA525M platform to support autonomous driving. The company has strong partnerships with Chinese automakers such as Li Auto, Nio and BYD, and this module will further strengthen its efforts to increase share in the automotive connectivity market.

Quectel enables satellite connectivity, strengthens automotive module portfolio Counterpoint

6. AR/VR: Thundercomm unveils XR2 VR HMD, 5100 AR glasses and smart vending machine

Thundercomm, a joint venture between Thundersoft and Qualcomm, unveiled a VR HMD solution based on the Snapdragon XR2 platform and AR glasses based on the Snapdragon W5 platform. These products will not only provide flagship experience but also offer low power consumption, higher resolution and more wear comfort. The AR/VR space is heating up with the increased participation from leading technology and smartphone players such as Meta, Apple, HTC and Google. However, an early entry can be beneficial for Thundercomm.

The newly launched smart vending machine will help increase operational efficiencies for retailers. Moreover, this solution will improve the shopping experience and further extend retailers’ reach. Thundercomm is expanding its product lines to capture maximum value from both the consumer and enterprise IoT markets.

Thundercomm unveils XR2 VR HMD, 5100 AR glasses and smart vending machine Counterpoint

7. Robotics & Drones: Autel Robotics showcases EVO Max 4T drone

Autel Robotics has unveiled a new drone, the EVO Max 4T, which is capable of a variety of applications such as autonomous navigation, semi-autonomous flight missions, firefighting, and inspections. It is equipped with three high-quality cameras, capable of capturing footage from a distance of 1.2 km. Autel has also released the Dragonfish NEST infrastructure, which supports automated eVTOL systems, and the EVO NEST infrastructure, which can operate in all weather conditions.

Drones and eVTOLs will see higher adoption in the future with better efficiency in power consumption, security improvements and better regulatory compliances. These innovations will help Autel increase its presence in the enterprise market and remain competitive with companies like DJI.

Autel Robotics showcases EVO Max 4T drone Counterpoint

8. Industrial IoT: ZVISION partners NVIDIA to improve industrial sensing

ZVISION, a provider of solid-state MEMS LiDAR solutions, is working with NVIDIA to use its robotics simulation platform Isaac Sim to develop advanced robot sensing capabilities and provide high-performance LiDAR solutions.

In Industry 4.0, robotics and simulation will play a key role. Its partnership with NVIDIA will allow ZVISION to expand its applications beyond vehicles, while also reducing costs and speeding up time-to-market for companies undergoing digital transformation. ZVISION offers both short- and long-range LiDAR options that can be tailored to various applications.

ZVISION partners NVIDIA to improve industrial sensing Counterpoint

9. Platform: Tuya pushes PaaS 2.0, Cube for digital transformation

Tuya officially launched PaaS 2.0 to develop personalized solutions to fulfill global customers’ demands for “product differentiation and independent control”. For private cloud customers, it also unveiled Cube, an enterprise-level IoT platform deployment solution.

PaaS 2.0 is a unique innovation that can assist customers in reducing R&D costs and increasing product competitiveness. Tuya is focusing on public and enterprise cloud applications which are dominated by big cloud players like Alibaba cloud and Tencent cloud.

Tuya pushes PaaS 2.0, Cube for digital transformation Counterpoint

10. Healthcare: OMRON launches blood pressure monitor with ECG

OMRON introduced a new upper-arm blood pressure monitor with built-in ECG capabilities. This device aims to facilitate the early detection of heart disease by combining blood pressure monitoring and ECG technology. Utilizing home-monitored data, healthcare professionals will be able to provide early treatment and detect Atrial Fibrillation (AFib) at an early stage.

The company also announced the expansion of its digital healthcare apps with new features, such as the Personal Heart Health Coach and the Care Team within the OMRON Connect app. These new features will utilize AI technology to analyze vital data and provide patients with personalized guidance and exercise advice. OMRON’s innovative solution, leveraging technologies like AI, ML and IoT, will help healthcare professionals to better understand patient data through analysis.

OMRON launches blood pressure monitor with ECG Counterpoint

Conclusion

CES 2023 has provided ample food for thought for industry executives. Each of the announcements made at the event has significant implications for the direction of the industry. For example, the satellite-related announcements made by chipset and module players could help IoT companies focus on new use cases. Additionally, with Wi-Fi 7 becoming mainstream and Matter-certified home products being rolled out, we can expect to see a significant uptick in demand for smart home products. These developments and more continue to shape the future of IoT and solidify the role technology plays in our daily lives. With more innovation, the possibilities are endless and we are excited to see how the industry will continue to evolve.

Related Reports

 

Arlo Revenue up 15.3% YoY in Q3 2022 on Services Business Performance

  • The services segment has been an important driver for Arlo’s profit growth.
  • Expansion beyond the Americas has yielded positive results.
  • New products were launched in 2022 to diversify in the home security space.

American smart home products company Arlo, which is primarily focused on smart security cameras, has reported a 15.3% YoY rise in its Q3 2022 revenue at $128 million. The growth was driven by both its product and services portfolios. Its services segment, in particular, has been driving the spike in its profits in the past few quarters. The other driver for the company’s top line in the past few quarters has been its foray into Europe, whose share in the revenue mix is increasing. In the previous two quarters, the growth was marred by supply constraints, especially higher air freight costs. However, the growth in subscription services partially offset the decline in revenues.

Counterpoint Research-Arlo Total Revenue by Segments, Q1 2019 - Q3 2022, Counterpoint Research_v1

Arlo was spun off from Netgear as a separate company in 2018. Its offerings can be mainly divided into two categories – products and services. Over the years, the products have diversified beyond smart cameras to include doorbells, floodlights and other accessories, the most recent being Arlo’s first security system with a keypad sensor hub and multi-sensors. Arlo’s service offerings include mainly two services – Secure and the recently launched Arlo Safe. While the first one acts as a command center for a buyer’s home security needs, the latter is an on-the-go personal safety app for the owner and her/his loved ones.

Counterpoint Research, Arlo Product Profile
Source: Arlo

Diversification pays off

Arlo has entered new product categories since 2019, like services, doorbells and floodlights, which are also close to its core business of smart home security. It is now reaping the benefits of this diversification, generating an alternative stream of revenues with a share of 46% in 2021, compared to 22% in 2019. Continuing with this trend, Arlo plans to launch three new product service offerings in three years. So far, it has added Arlo Safe and Arlo Secure to expand its revenue from the services segment.

The shift towards the subscription model has led to a jump in both revenue and paid accounts. Services revenue currently accounts for 28% of Arlo’s total revenue. The company’s annual recurring revenue has continued to grow and was at $125 million in Q3, a 56% YoY growth. It is the fastest-growing as well as the highest-margin portion of the revenue and represents the annualized recurring subscription revenue Arlo derives from paid accounts.

To increase subscription-based revenue, Arlo is laying emphasis on direct-to-consumer and strategic accounts. Investments in its website “Arlo.com” have seen positive results, with the share of revenue coming from retail and e-commerce (indirect sales) declining to 43% as compared to 84% in 2019.

The gross profit margin for Arlo was at a high level of 28.7% during Q3. The gross margin is steadily increasing, indicating more profitability on its sales, probably due to increasing profits in the services segments. It is pertinent to note here that the profit share of the services and product segments in Q3 was 64% and 36% respectively.

Even with operating margins being negative from 2019 till today, 2022 has been the best year with the margins ranging between -5% and -11%, indicating that Arlo is on a path toward profitability. Talking specifically about 2022, Q3 had the lowest operating margin, which could be attributed to higher marketing expenses due to the company’s “protect your everything” campaign.

Counterpoint Research Total Revenue by Region & Paid Subscribers, Q1 2019 - Q3 2022, Counterpoint Research_v1

 

Focus on increasing subscribers, EMEA remains fastest-growing region

Region-wise, Americas has been stable with a share of around 55% this year. The agreement with Verisure has brought significant returns for Arlo. The EMEA region now contributes 41% to Arlo’s revenues, which is a significant increase from the end of 2020 when the share never went beyond 25%. Arlo also got into a partnership with Calix last year to ensure accessibility of its products to remote and rural areas. The partnership entails Calix integrating Arlo services into its platform for broadband service providers around Canada.

Arlo had 500,000 paid accounts in March 2021 which rose to 1 million by December 1, 2021. In Q3 2022, the number of paid accounts stood at 1.67 million, a 91% YoY growth. This has also meant a boost for the annual recurring revenue. Arlo is one of the few companies to reach $100 million in five years.

ARPU has also been a new focus area for the company. At the end of 2021, its ARPU was $9.35. The ARPU was seen to have increased after the launch of its new emergency services, Arlo Secure, in 2021. In Q1 2022, the churn rate at 2.8% was one of the least compared to other companies which have a subscription model. Arlo also sees an 80% gross margin on retail and direct paid accounts with a low churn rate of 1.2%.

Cash flows decreased in Q3 due to increased investment in inventory, which was at $73.2 million. This increase in inventory was due to restocking in anticipation of the holiday season and to meet consumer demand in Q4 and early 2023.

Counterpoint Arlo Partnerships

Conclusion and future outlook

  • Global partnerships, especially with Verisure, have yielded positive results by allowing Arlo to expand into Europe. The strategic partnerships with T-Mobile, Verizon, U.S. Cellular, Celcom and Bell Canada have also been successful. These partnerships are important for Arlo to tap untouched markets as well as indirectly develop brand awareness.
  • Arlo is transitioning from a pure hardware company to a services business. It is working towards converting its hardware buyers into subscribers. SAAS will remain a focus for the company and other competing firms as differentiation in products like smart cameras has become difficult, but differentiation in services is much easier.
  • A successive increase in ARR and cumulative registered accounts since 2020 is an indication of the above. It is a high profit margin area that Arlo is leveraging, but it must diversify its product portfolio as the service revenue is dependent on it. Arlo will continue to innovate in its products to maintain the existing consumer base and subsequently increase its subscriber base.
  • The supply chain for Arlo as well as other security companies was first affected by COVID-19 and then the Russia-Ukraine war. With the easing of the impacts of both, the industry as well as Arlo are expected to come on track and post better results in the coming quarters.
  • In the near future, Arlo is expecting a volatile market due to inflationary pressures and fears of a recession. Therefore, it has taken steps to cut down on its operating expenses. Arlo paused its marketing campaign “protect your everything” at the end of Q3 to prepare for a bleak macroeconomic future. The company is also expected to reduce its headcount, office leases and outside service, steps which may temporarily impact its growth but not by much.

 

Smart Home Market Witnessing Rapid Growth

  • The shipments of WiFi-based smart home devices are estimated to grow at a CAGR of 21% between 2020 and 2025.
  • Smart television, security camera and smart speaker will be the major categories driving this market.
  • A wide variety of applications are driving the growth of this market, providing immense opportunities to many players across the value chain.

Over the past few years, there has been a surge in consumer awareness regarding the importance and benefits of using smart devices at home. A smart home is defined as a home where appliances can communicate with one another and can be controlled remotely from anywhere through an internet connection. The smart home market is growing rapidly due to the changing needs of customers, demand for greater comfort and security, recent advancements in technology, introduction of innovative products, and rising investments in this field. The COVID-19 pandemic has also provided the necessary boost to this segment, as consumers are spending more time at home and looking for home entertainment solutions and devices that can offer an increased level of automation.

Smart home market growth and applications driving it

The smart home market is quite fragmented with various products being introduced in all the emerging application areas. Each of these product categories has its own growth path and is supported by different wireless protocols like Wi-Fi, Bluetooth, Zigbee and Zwave. Among these, there is a great potential for Wi-Fi-based devices to grow due to their better connectivity, which is needed to operate the current smart homes effectively. Counterpoint has identified certain product categories in the smart home market which are more important in terms of growth and customer adoption. These product categories are smart speakers, smart TV, security camera, smart thermostat, smart lighting, smart kitchen (including smart fridge, smart dishwasher and smart oven), smart laundry (including smart washing machine and dryer), XR headsets and gaming consoles.

Exhibit 1: Main Smart Home Applications and Products

Counterpoint Research - Smart Home Trends & OutlookSource: Counterpoint Research Global Smart Home Market Report, 2021

We estimate that the shipments of such Wi-Fi-based devices will grow at a CAGR of 21% between 2020 and 2025. There are a wide variety of applications that are driving the growth of this market, such as home entertainment, energy management, safety and security, lifestyle and health, and smart appliances.

Exhibit 2: Global Smart Home Device Shipments (Key Categories )

Counterpoint Research Global Smart Home Device Shipments 2020 vs. 2025

Source: Counterpoint Research Global Smart Home Market Report, 2021

Major trends in market

  • Devices supporting digital assistants: Voice control is no longer confined to smart speaker devices. Digital assistants are increasingly becoming integrated into multiple home devices. This has led to greater consumer adoption. For instance, realme Smart Plug comes with Google and Alexa support. Similarly, we have thermostats (Ecobee), smart locks (August), and routers (Netgear) supporting digital assistants.
  • Wi-Fi 6 gaining popularity: Wi-Fi 6 chipsets and modules are now being installed in emerging smart home devices. For instance, Samsung’s latest 8K QLED TV is the world’s first TV to feature Wi-Fi 6 with a Mediatek chipset. Besides, we have seen routers from Netgear, Xiaomi, Linkys, TP-Link and D-Link supporting Wi-Fi 6.
  • Touch displays as user interface: Smart displays are primarily smart speakers with a display attached to them. Smart displays will act as the primary user interface, a central hub to control all other smart home devices like lights, TVs, fans, security cameras and door locks.
  • Introduction of Wi-Fi mesh systems: With the increasing number of smart home devices, having one Wi-Fi point in the house is no longer good enough. To be able to run more devices simultaneously, wider coverage is needed. Therefore, Wi-Fi mesh systems are increasingly becoming popular, as they help get rid of the internet dead zones or dead spots to provide seamless wireless coverage. Various brands like Netgear, TP-Link, Linksys and D-Link are launching Wi-Fi mesh systems to expand their portfolio beyond traditional routers.
  • New ways of monetization: Traditionally, we have seen brands offering a subscription model in which customers are required to pay a fee for a constant value. However, now companies are increasingly looking to identify new ways to monetize smart home technology, like service bundling, launching audio ads and using IoT data.

Emerging opportunities

  • Shift from devices to services: As device margins are fading away slowly, in the coming period, from a brand perspective, the focus will be more on the stickiness factor by offering innovative solutions and value-added services to customers on top of the device sale.
  • Role of advertising: Advertising will have a central role in smart homes. Advertisers will acquire vast amounts of consumer data and use advanced AI or ML algorithms to serve relevant, customized ads to users at appropriate times.
  • Offline retail is critical: Retailers can play a vital role in smart home adoption by launching consumer experience zones. This can be accompanied by promotional discounts, targeted marketing campaigns, and device bundling offers. For instance, Amazon provides a bundling offer of Echo speakers with Philips Hue bulb.
  • Connected lifestyle experience: Device makers have an opportunity to differentiate themselves and broaden their customer base by opening new product categories and expanding their product portfolio to offer a seamless connected lifestyle experience.
  • Tracking usage patterns: Businesses can utilize the vast amount of IoT data generated through systems and sensors to track consumer behavior and buying patterns. The data can also be used to improve customer experience and boost sales by offering proactive services like preventive maintenance and sending reminders through emails or calls whenever there is a shortage based on the customer’s usage patterns.
  • Content generation and storage: The increasing amount of data generated through smart devices like security camera generates strong demand for remote storage and access. Therefore, there is a growing potential for cloud-based players to enter this market, form partnerships and offer multi-device cloud-based solutions to their customers.

Challenges ahead

  • Compatibility: There are several different apps and various protocols which are used to manage and control smart home devices. Therefore, incompatibility is the biggest concern in smart home technology.
  • Security and privacy: Nowadays, a smart home collects and transmits data to servers to enable communication between sensors and applications without any user control. This may consist of sensitive personal information depending on the source and application type. To solve the problem posed by this critical privacy risk, there should be a privacy-aware context-sensitive framework that enables users to define privacy preferences for different settings.
  • High cost: The price point for certain categories of smart home devices is still very high for mass adoption. Companies need to launch devices that are cost-effective. Amazon and Google have shown some positive movement in this regard.
  • Connectivity: Network connectivity is one of the most common issues faced by smart home devices. This can be solved by switching to a better wireless router or a Wi-Fi mesh networking system to have consistent connectivity throughout the home.

The smart home market is still in a nascent stage. However, it is growing rapidly due to both demand- and supply-side push. Wi-Fi is going to be the major driver for growth. Cumulative shipments of Wi-Fi-capable smart home devices from 2020 to 2025 are likely to cross the six-billion mark. This fragmented market represents a billion-dollar opportunity for many players, including component suppliers, device manufacturers, retailers, platform and cloud partners, and telecom companies. The future of the smart home is built on two important factors – seamless integration and network connectivity. In the coming years, we estimate that the use cases will also start evolving to include areas like content consumption and e-commerce.

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