A Globaldata latest report has disclosed that spending on automated home devices will hit $75bn by 2025, up from $23bn in 2018 globally.
The report titled ‘Thematic Research: Automated Home’, noted that much of that growth will be driven by two types of devices: smart thermostats, which are becoming increasingly common as consumers and governments alike look to control energy consumption; and smart speakers, relatively recent entrants to the market.
According to Ed Thomas, Principal Analyst for GlobalData’s Technology Thematic Research, the advent of smart speakers has had a significant impact across the automated home, as they have enabled simple, voice-activated control of all types of smart devices and, thanks to their relatively low price point, offered an ideal entry point for customers that are curious about home automation. Their success has also turned the home into another front in the ongoing war between the giants of the technology industry, including Amazon, Google, Apple, Alibaba, and Samsung.”
In this category, GlobalData notes that the Chinese market represents a significant opportunity, with Alibaba, Baidu, and Xiaomi the leading vendors. “Samsung is falling behind in this theme – its smart speaker has yet to hit shelves despite being announced in 2018 and the company lacks a unified approach to the automated home of the kind that Google now has following its decision to embrace Nest as its automated home brand. Specialist automated home device vendors, such as Ecobee, will increasingly struggle to compete with the tech giants and will either be acquired or forced out of business,” Thomas added.