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

New data from Juniper Research 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 2019-2024, 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.

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 follows:

  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.

Please follow and like us:

Uber Looks To Buy AI Startup For Self-Driving Tech

Cross-Border Efforts Ripple (Literally) Through Cryptos And Payments

The Competitive Advantage Of Commercial Card Acceptance

Tips to Help Amateurs Succeed in Online Marketing

Sponsored Guest Post

Building a brand and developing an online presence is a critical factor for anyone who is looking to survive in the competitive modern world. Be it for yourself or for your company or brand, in a world of short attention spans and massive amounts of content, how can you ensure that you can stand out from the crowd and be heard above all the digital noise and chaos?

They will tell you that it isn’t easy to do, and they are right, but what they won’t tell you is that with a bit of focus, a willingness to learn and being prepared to make some mistakes, you can achieve quite a lot by yourself. If this is something that you are wanting to try, then here are a few tips to help you on your way.

There is a lot of information online

The internet is a place where almost anything can be found and there is certainly a lot available about digital marketing Australia, search engine optimisation or social media. If you are determined to go it alone and build your brand without the aid of an agency, spend as much time as possible perusing platforms like YouTube and Wikipedia to find the answers that you need. These are all free resources, and while they might not be comprehensive or good enough to land you a degree, they will set you on the path to getting the basics right. Along with this research, look to participate in some paid courses on a platform like Udemy.

Create a plan

Make sure that you make a plan before you start anything. If you were to work with an agency they would spend a lot of time coming up with a digital marketing strategy or blueprint. You need to do the same. If you don’t have a plan that includes the brand positioning and a content calendar, then you are going to find yourself getting pulled all over the place very quickly. Come up with a plan in the calm, objective light of day and then implement it. Digital marketing is not best done when flying by the seat of your pants.

Don’t be afraid to ask

There are plenty of experts out there and most will be happy, even flattered to answer the questions that you might have. So, ask for advice wherever and whenever possible. This is even something that can be done via social media platforms – you might be surprised by the quality of the answers that can be generated from the hive brain that is the internet.

It is easy to see what is working   

One of the best things about the internet and digital marketing is that it is easy to measure and track things. Tools like Google Analytics and others can track all sorts of touch points and metrics, allowing you to see which campaigns or strategies are getting the best return for their efforts and spend. And don’t be a martyr, as much as it is important to have a strategy and a plan, you must also assess it regularly. If something is not working, then change it – the analytics will let you know if you are on the right track or not.

Please follow and like us: