May 28, 2014: Cloud-Based Home Management Market Set for Rapid Growth
Installed Base Projected to Grow to 44.6 Million at the End of 2018, Up From 5.6 Million at the End of 2013
LONDON — Cloud-based home management systems that allow users to remotely control household features like HVAC and lighting are set for rapid growth in the coming years, with the worldwide installed base set to rise by a factor of eight from 2013 to 2018, according to IHS Technology.
The global installed base of cloud-based home management services is projected to grow to 44.6 million at the end of 2018, up from 5.6 million at the end of 2013, said IHS. The installed base this year will surge 63 percent to 9.1 million.
“Imagine using your smartphone or tablet to detect an intruder in your home or to adjust the temperature in your living room — no matter where you are,” said Lisa Arrowsmith, associate director, connectivity, smart homes and smart cities, for IHS. “Cloud-based home management makes all this possible, and much more. With a wide range of companies offering such solutions, the cloud-based home management system business will expand dramatically in the coming years.”
Cloud-based home management systems and services are designed for mass-market adoption, said IHS. Other applications for these systems and services include home monitoring, energy management, and independent-living services.
The types of companies offering cloud-based home-management systems vary widely. One major group is existing service providers who have related core business lines, such as security or telecommunications providers. Other types of companies include device suppliers.
Smart home specialists are expected to play a major role in the deployment of smart home services globally. This category of companies includes both home automation providers that are moving toward a cloud-based model, alongside a new breed of connected home specialists, such as Nest.
For more information, visit https://technology.ihs.com/.
Publication date: 5/26/2014