Press release

Juniper Research: Smart Home Automation Revenues to Exceed $57 Million by 2024, Driven by Smart Security

Sponsored by Businesswire

New data from Juniper
found that automation revenues will exceed $57 million
by 2024, up from $18 million in 2019; driven by smart security solutions.

Juniper’s new research, Smart
Homes: Strategic Opportunities, Business Models & Competitive Landscape
, found the ‘Do It For Me’ model, with vendors offering
advice, installation, maintenance and cloud storage on monthly/yearly
subscriptions, is gaining ground. More players, such as Hive, Vivint
Smart Home
and TP-Link, now offer subscription packages,
which broaden the value proposition with extra cloud storage, devices or
superior video quality.

For more insights, download our free whitepaper, Smart
Homes ~ the Rise of Smart Security

Evolving Monetisation Opportunities for Vendors

The research found that insurers, utilities, mobile network operators
and eCommerce vendors will capitalise on their existing relationships,
including their trusted brand names and billing structures to extend
their offerings to include smart home services. However, these vendors
will still have to partner with smart home providers to make this
business model viable.

The smart home is also attracting blockchain vendors who hope to solve
interoperability and privacy issues hindering global smart home
adoption. However, while blockchain could solve interoperability issues
between devices, it would create interoperability issues between
different distributed ledgers and add a level of complexity unnecessary
in the smart home.

An Increasing Pool of Competitors

As part of the research, Juniper assessed 15 vendors across smart home
segments, comparing the relative level of their capabilities and
offerings in the space. Juniper positioned the 5 leading vendors as

1) Amazon

2) Google

3) Samsung

4) Deutsche Telekom

5) TP-Link

Google and Amazon lead the way thanks to their
comprehensive smart home solutions, high-profile acquisitions and widely
supported voice assistants. Samsung provides a breadth of smart
home devices through its SmartThings arm; currently unrivalled by other
players. Through its B2B and B2C solutions, Deutsche Telekom has
strategically positioned itself in every corner of the smart home thanks
to its white label solutions and Magenta platform.

Juniper Research provides research and analytical services to the global
hi-tech communications sector; providing consultancy, analyst reports
and industry commentary.