Smart Home Ecosystem Illustrates Potential Partnerships

ABI Research forecasts that by 2022, the global smart home market will reach $123 billion, which is up from $56 billion in 2018. The current smart home ecosystem is complicated with a growing number of players and offerings competing to gain a foothold in the market. Vendors will need to diversify and become more collaborative to increase their market share.

ABI Research released a strategic infographic which identifies more than 150 vendors in six main service sectors.

• Security
• Energy Management
• Home Entertainment & Media Management
• Home Maintenance
• Health
• Personalization

Each sector is set for growth and adoption with solutions covering everything from voice control to smart plugs to motion sensors.

The ABI Research infographic provides a visualization of how players in this industry may position themselves in terms of product development, identifying which channel partners may optimize their go-to-market strategies, focusing on competitors for mergers or acquisitions, and more.