This is a preview of a research report from Business Insider Intelligence, Business Insider’s premium research service. To learn more about Business Insider Intelligence, click here. Current subscribers can read the report here.
The US smart home market has still yet to meet the expectations many observers had in the early part of this decade.
The same issues Business Insider Intelligence first identified back in 2015 still plague the space — persistently high prices, technological fragmentation, and consumers’ lack of a perceived benefit from the devices.
But the newfound popularity of smart home voice control has revolutionized smart home ecosystems across the country, and convinces more consumers to equip their homes with smart devices on a daily basis. The Amazon Echo, released in 2014, has become immensely popular and capable, awakening users to the utility of both voice control and smart home devices. This has prompted companies to rush to release competing devices and integrate voice control into their smart home ecosystems.
In The U.S. Smart Home Market Report from Business Insider Intelligence, we examine the overall state of the US smart home market — both the professionally and self-installed markets. We analyze the factors driving demand for smart home devices and smart home voice speakers, and discuss the future of voice control in the home.
Here are some key takeaways from the report:
- Voice control is becoming a key remote interface within the home, a trend that began with the introduction of the Amazon Echo in 2014. Since then, Google, Samsung, and Apple have all integrated voice control into their smart home ecosystems.
- While progress has been made, prices are still too high and consumers still have yet to show strong demand for smart home devices.
- The US smart home market is only now entering the mass market phase of consumer adoption and overcoming the chasm that it sat in back in 2015.
In full, the report:
- Analyzes current consumer demand for smart home devices based off results from Business Insider Intelligence’s proprietary survey.
- Forecasts future growth in the number of smart home devices installed in American homes.
- Analyzes the factors influencing the proliferation of voice control devices in the homes.
- Identifies and analyzes the market strategies of various companies that have integrated voice control into their smart home ecosystems.