Strategy Analytics finds global smart home market will reach $100 billion in total revenues by 2018. US said to be the largest regional market over the forecast period with Western Europe and China catching up quickly.
“The entry of big brands over the past couple of years coupled with Apple’s HomeKit initiative builds awareness for the capabilities smart home solutions offer consumers,” commented Bill Ablondi, Director, Smart Home Strategies advisory service and developer of the forecast. “There are a lot of questions to be answered about HomeKit and its implications, but one thing is for sure Apple, and its partners which include Chamberlain, Honeywell, Philips and Schlage will help establish credibility of the overall market opportunity. This is no longer a market waiting to happen; it’s happening now.”