The Connected Home is Now
Industry analysts have been predicting the proliferation of smart, connected homes for more than 20 years. But up until now, no cool product or service has moved the needle toward mass adoption. The percentage of U.S. homes with some type of home automation or smart grid system is still less than two percent.
Home security is the largest connected home category today, but the 24-hour, home security monitoring service has been stuck at a 20 percent market share for many years.
The question is: Are there new connected home products and services that can drive significant consumer demand? Industry experts are hoping that the convergence of three factors—smartphone proliferation, smartphone app abundance and energy usage and costs—will create the tipping point for the connected home.