Strategy Analytics reports the spending on smart home systems and services in the US will hit $18 billion in 2014 and more than double to $39 billion by 2019.
Other key findings disclosed by Strategy Analytics include:
Security service providers will drive revenue growth in the US market as ADT and Vivint run neck and neck in front with each having more than 800,000 residential subscribers and FrontPoint, the online reseller Alarm.com’s platform, not far behind.
Comcast’s Xfinity Home is likely to catch up with the frontrunners in 2014 with AT&T’s Digital Life also in the chase
Lowe’s Iris self-monitoring and control system currently has a big lead on Home Depot for the DIY customer, but Staples, Amazon and Smartlabs, with Microsoft now selling INSTEON devices in its stores, will intensify the battle for DIYers.
Apple’s HomeKit caused a stir when introduced in June, It has perked up iOS devotees to smart home applications, but it remains a dark horse in the race.
Google’s Nest acquiring Dropcam adds another cool product to their portfolio and another point of “learning” about what goes on in homes for future Google/Nest applications.
Quote: Bill Ablondi, Director, Smart Home Strategies said: “Interactive security will take the revenue lead from professionally installed home control and entertainment systems in the overall US smart home market and Nest’s acquisition of Dropcam signals Google’s desire to become a disruptive force in this market.”