Navigant Research report reveals annual revenue for smart home data analytics is expected to reach $11 billion in 2026

A new report from Navigant Research examines the market issues associated with smart home data analytics solutions in the residential space, providing global forecasts, segmented by business model, device, and region, through 2026.

Smart home data analytics solutions continue to emerge, and market participants are just beginning to realise the opportunity offered by volumes of data. Analytics solutions not only use data to provide insight into the home, but also create new possibilities for generating revenue and providing consumers with more value. According to a new report from @NavigantRSRCH, global smart home data analytics revenue is expected to increase from $1.3 billion in 2017 to $11.0 billion in 2026.

“Players in the residential sector are beginning to discover the opportunity analytics solutions have to offer,” says Paige Leuschner, research analyst with Navigant Research. “Currently the market is focused on using analytics to engage customers and gain insight into the home. However, as volumes of data grow and companies further explore use cases for data, Navigant Research expects analytics to enable more advanced functionality, such as home automation, and play a vital role in creating smarter homes.”

Today’s market players are largely offering customer engagement solutions as free analytics bundled with hardware purchases, business-to-business (B2B) software, and business-to-consumer (B2C) services, according to the report. As new use cases continue to develop, the market must overcome barriers such as limited awareness about the value of analytics, as well as concerns about data privacy and security.

The report, Smart Home Data Analytics, analyses the global market for smart home data analytics solutions in the residential space, with a focus on three business models: free analytics, B2B software, and B2C services. The study provides an analysis of the market issues, including drivers, barriers, and use cases, associated with smart home data analytics.

Global market forecasts, segmented by business model, device, and region, extend through 2026. The report also examines the technology stack, value chain, and business models related to smart home data analytics, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.

Comment on this article below or via Twitter: @IoTNow OR @jcIoTnow


9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, iot home automation is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more

Nozomi Networks and Tripwire announce strategic partnership

Posted on: September 17, 2021

Nozomi Networks Inc., the provider of OT and IoT security, and Tripwire, a global provider of security and compliance solutions for enterprises and industrial organisations, announced they have partnered to help organisations lower cyber risk with consistent security controls that span their IT, OT and IoT environments.

Read more

RightIndem deploys enterprise-grade conversational AI to simplify customer claims process

Posted on: September 17, 2021

RightIndem, an global insurance technology company, has worked with Bristol-based Amdaris to simplify its customer onboarding process via developing enterprise-grade conversational Artificial Intelligence experiences.

Read more