Smart home appliances sales to reach £161bn by 2021
Juniper Research predicts home automation and smart appliances will witness “fastest growth” over the next five years driven by manufacturers Samsung and Bosch
Smart home hardware and services revenues are set to reach $195bn (£161bn) by 2021 driven by adoption from global manufacturers, according to a report by research firm Juniper.
The report forecasts take-up by entertainment, automation, healthcare and connected devices will drive revenues from $83bn (£68bn) in 2017 to $195bn by 2021.
The drive in sales will also be boosted by manufacturers including Samsung, Bosch and GE Appliances adding connectivity to their respective units, with home automation and smart appliances to witness the “fastest growth” over the next five years.
The research firm ranks Amazon as the market leader for its cloud services and incumbent device bases, followed by Samsung Electronics, Alphabet and Apple.
Juniper added Amazon’s innovation, use of cloud services in Amazon Alexa, and ability to capitalise on its ecommerce presence gives them a leading position in the market.
“The company has managed to maximise its value proposition for Alexa by partnering with a large range of complementary players in the market, whilst utilising its own cloud platform to set Echo and Alexa apart from its competitors in terms of functionality,” research author, Sam Barker, said.