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SmartHome market is expected to reach $176 billion in value by 2025, providing a wide variety of options for investing.
In recent years there’s been a significant increase in new smart home products and services. Varying from smart light bulbs to advanced home security systems, making your home smart is pretty easy today. Some statistics point out that in 2020, households in the United States invested almost $500 into smart home tech on average.
With the market significantly expanding, it might be wise to start investing in both the established and emerging companies. Hopefully, this article will provide you with the answers to questions regarding the market potential and key players to look out for.
Smart Home Market Overview
According to a Statista report from November 2020, the smart home market is expected to increase in value up to $176 billion by 2025. Considering that the market will reach $77 billion in 2020, that’s a growth rate of CAGR 17.9% for the 2020-2025 period.
As far as the US is concerned, it accounts for 30% of the market’s value, stemming from a high household penetration rate of 36.6%. As the market expands, this rate might increase up to 57.2% by 2025.
It’s also interesting to note that the smart home market wasn’t that much affected by the COVID-19 pandemic. In fact, it may have even benefited from the situation. Smart devices help people do many things without exposing themselves to any outside contact. One of the best examples is smart video doorbells with two-way audio capability. These allow you to greet anyone standing outside your home, without even opening the door.
To better understand the structure of the smart home market and the major players, the sections below provide the market breakdown by the popular product categories.
Smart Speakers & Displays
Adding a smart speaker to your home practically provides you with a personal assistant that’s in tune with your living habits. Although these devices will take some time to learn your favorite way of doing things, advanced AI machine learning makes sure they catch up with your habits in no time.
The main thing about smart speakers is that they come equipped with voice-controlled assistants, such as Amazon’s Alexa, Google Assistant, and Apple’s Siri. When you connect the speaker to your home Wi-Fi network, it will be able to communicate with whichever smart device you allow them to. After that, just say the right words to control any device you want.
The leaders in this segment are:
- Amazon (AMZN) – Echo and Echo Show devices
- Google (GOOG) – Nest range
- Sonos (SONO) – Smart speaker and home theater systems; cooperation with IKEA
Video Doorbells & Smart Cameras
The invention of smart video doorbells and surveillance cameras allows you to significantly increase the security of your home. Besides being a great monitoring gadget, their features also make your life much easier when you leave for work or anywhere else.
Thanks to advanced sensors which detect motion in front of the camera, you can receive a short video clip to your smartphone when someone passes in front of your door. Using a dedicated app on your phone, you can even tune into a live feed from the camera, whenever you want, wherever you are.
Although a category with a great perspective, the only leader that’s trading publicly at this moment is Arlo (ARLO), while Ring operates under the Amazon (AMZN) brand. Wyze, Remo, and Nanit still haven’t gone the IPO route, but it’s worth keeping their names noted for the future.
Smart Locks & Home Security Systems
To further improve the security of their home, smart home enthusiasts can add smart locks and some more advanced security systems to their setup. Changing a regular lock for a smart one allows you to control the entry points to your home using a smartphone or tablet.
On the other hand, home security systems connect with various devices to create an entire ecosystem for your smart home. The dedicated security management apps allow you to easily add indoor and outdoor cameras, floodlights, video doorbells, smart locks, and many other devices. When you connect everything, you can relax knowing this system will take good care of your home. Should it detect any intrusion, it will immediately activate the alarm, send notifications to your smartphone, and even alert the emergency services.
The leaders in this segment are:
- Vivint (VVNT)
- ADT (ADT)
- Honeywell (HON)
- August, operates under a Swedish company named Assa Abloy (ASAZY)
- SimpliSafe is still a private company, not yet available for trading
Robotic Vacuums
A revolutionary technology which iRobot introduced to the world market, robotic vacuums provide a super-convenient way for keeping your home clean. With various sensors included, a robot vacuum can recognize if it’s getting near to a stairwell or reaching a no-go zone set by its owner.
Today, some premium models even have an option to automatically clean their dirt trays, allowing them to cover more area on a single charge. And should they run out of battery, they can get back to their charging station on their own and calculate how much charge they need to complete their cleaning run. When they reach a sufficient battery level, they’ll immediately get back to the task, without waiting to reach the full charge.
The leaders in this segment are:
- iRobot (IRBT)
- Shark, operates under JS Global (JGLCF)
- Ecovacs (SHA: 603486)
- Roborock (SHA: 688169)
Smart Heating & Cooling
Another segment which benefits from advanced tech is heating, ventilation, and air conditioning, or HVAC for short. By installing a smart thermostat in your home, you can easily control various aspects of your HVAC equipment using voice commands, your smartphone or a computer.
Although these devices have a pretty simple task to perform, they’re loaded with features which automate the process of keeping your home at an optimal temperature at all times. For example, “geo fencing” checks the location of your smartphone in real time, letting the system know when you’re home or not. When returning from work on a cold day, once you get close to your house, a smart thermostat can start pre-heating your home so it’s warm and cozy when you get there.
The leaders in this segment are:
- Honeywell (HON)
- General Electric (GE)
- Nest, operates under Google
- Ecobee (no IPO)
Yeh, most of the market is tied up with the big boys,
Amazon and companies
Google Nest
Apple
Facebook Portal
But there are also ALOT of smaller and immerging companies in this area which is great. It’s just that investing in the smaller upcoming companies is harder as they are not public.
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