The smart home products marketplace has enjoyed impressive growth over the past five years. Smart home products, formerly enjoyed only by households with a professionally installed, interactive security system or a professionally installed home automation system, are now commonly found in the households and apartments of those of varying incomes and ages. Well-priced and easy to install DIY products are appearing in many sales channels, both online and in retail stores. Doorbell cameras, smart thermostats and smart lightbulbs are commonplace in US homes and apartments, and many are connected to smart speakers from Amazon and Google.
Traditional home security players such as ADT and Vivint are increasingly seeking to ride the wave of consumer enthusiasm for low-cost, easy to install smart home products, while maintaining their high-margin recurring revenue subscription businesses. Device makers, including Google, are forming partnerships and providing subscription services to gain access to recurring revenues. Service providers, including Comcast and Cox, continue to add home security and automation to their pay TV and Internet services. Energy providers continue to experiment with smart home product offerings, seeking to provide both energy management solutions as well as comprehensive home automation and security offerings.
Smart home industry leaders are faced with multiple challenges including:
Formulating the appropriate product, pricing and distribution strategies requires a keen understanding of smart home buyer segments.
Smart home industry executives must:
Purchase data and usage statistics are critical, as are taking stock of industry trends. To maintain leadership, industry players must leverage as many insights and analytics tools as possible.
Smart Home Matrix: Consumer
Smart Home Matrix: Consumer is a syndicated service providing quarterly consumer tracking data on buyer behavior and preferences, unique segmentation with personas, brand analysis, and quarterly focus topics.
Smart Home Matrix: Forecasts
An annual quantitative look at market sizing and growth for the top-selling smart home product categories.
Smart Home Matrix: Trends
Smart home trends and insights drawing on a fusion of consumer data, executive interviews, and market analysis.
Interpret’s Smart Home Matrix suite of insights products includes:
Smart Home Matrix: Trends™ monitors trends and delivers insights with a fusion of consumer data, executive interviews, and expert market analysis. Designed to keep industry decision-makers up to date on evolving smart home market trends.
Smart Home Matrix: Consumer TM provides quarterly consumer tracking data on buyer behavior and preferences, unique segmentation with personas, brand analysis, and quarterly “focus topics.” Designed for business decision-makers in the smart home ecosystem who rely on timely insight into consumer preferences, intentions, and biases.
Smart Home Matrix: Forecasts™ delivers 5-year forecasts of adoption and growth of select smart home products in the US market, including adopting households, annual sales units, revenue, channel share, and consumer-reported brand share. Designed for businesses who want a complete picture of the complex distribution of smart home products.
Smart Home Matrix provides comprehensive answers to the smart home industry’s most critical questions.