Smart Home Cloud Platform Market – An Overview
Smart Home Cloud Platform connects the smart home devices for faster connectivity, interoperability, and accesses to home devices anywhere and anytime. The proliferation of connected devices among consumers have given rise to the new breed of solutions and services enabling high level of automation, connectivity and security within the smart home ecosystem.
The rapid commercialization of wide range of smart home solutions such as smart appliances, smart lighting, smart home security and others, has increased the interoperability throughout the connected ecosystem. This trend is driving the need for smart home cloud platforms to support wide range of devices throughout the smart homes to address the connected lifestyle of the consumers.
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Smart Home Cloud Platform Market – Novel Developments
Key players in the smart home cloud platform market are focusing on product innovations and developments for sustained business growth, with a primary objective of having a competitive edge.
- In 2019, Universal Electronics- a leading provider of control and sensing technologies for the smart homes, launched a cloud-based Home Digital Assistant Platform- Nevo Butler, designed for smart home devices, enabling interoperability and connectivity across IoT-based home automation devices for rich consumer experience.
- In 2019, Mozilla Corporation launched WebThings smart home platform that connects with smart gadgets in home to let consumers access them remotely, with a built in conversational assistant.
- In 2019, Control4 Corporation- a leading smart home solution provider, launched Control4 Smart Home OS 3, a smart home cloud platform designed to control and monitor smart home devices through a single platform.
- In 2019, smart home automation and IoT platform startup SmartRent raised $32 million in funding to support large scale deployments for its end-to-end smart home automation platform.
- In 2017, Yonomi- a leading provider of IoT platform, launched Yonomi ThinCloud to provide cloud connectivity for consumer IoT devices to help smart home device makers with a secure and scalable cloud framework.
Smart Home Cloud Platform Market- Dynamics
Smart Home Cloud Platform Market- Asia Pacific
Asia Pacific is estimated to emerge as a highly lucrative market for smart home cloud platform, due to continued growth in adoption of smart home devices. The demand in Asia Pacific countries is driven largely by high number of smartphone users, along with growing demand for IoT, connectivity and Artificial Intelligence technologies within the smart home ecosystem. Countries such as China, India, Japan, and South Korea are likely to drive the demand for cloud-based platforms for monitoring and accessing smart home devices.
Moreover, APAC region has large number of smart city projects which would drive the adoption of smart devices within the smart homes and would surge the demand for smart home cloud platforms. As IoT becomes mainstream, it will eventually make the deployment of smart home cloud platform easier via integration and device monitoring services, with improved efficiency, security and reduced costs.
Smart Home Cloud Platform Market – Increasing Adoption of Voice-enabled Digital Assistants to Boost Demand
Voice-enabled digital assistants are advancing at a tremendous rate within the smart home market. Alexa, Siri, Cortana, and Google Assistant are well known in-home smart assistant technologies in today’s connected home. These smart assistants offer more personalized response with contextual understanding of consumer’s voice and provide a tailored and unique experience.
Smart home device manufacturers are integrating devices with these major smart assistant applications via AI and natural language processing, into their device control applications, which can be accessed via single platforms and thereby boosting the demand for smart home cloud platform.
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Smart Home Cloud Platform Market – Smart Device Manufacturers Focus on Technology Innovation to Commercialize Products to Gain Long-Term Profitability
Companies such as Amazon, Google, Ayla Networks and others are offering best-in-class smart home solutions to offer rich customer experience for connected lifestyle. They provide wide range of hardware, platforms, and services for smart home device management, interactive smart assistants, with application enablement capabilities. Their smart home platforms are device agnostic and provide a holistic view and control of all smart devices. The smart home system provides either develop their own cloud-based platform or they do technology partnerships with other platform providers to support their wide range of smart home solutions. As the IoT technology moves towards wide integration, the cloud-based interoperability for smart home devices would proliferate to provide huge opportunities in smart home cloud platform market.
Smart Home Cloud Platform Market- Segmentation
By Type, the smart home cloud platform market is segmented into-
- Smart Home Device Platform
- Smart Home System Platform
By Services, the smart home cloud platform market is segmented into-
- API Integration Services
- Remote Firmware Upgradation
- Diagnostics Services
- Risk Assessment Services
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global smart home cloud platform market. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with smart home cloud platform market attractiveness as per segments. The report on smart home cloud platform market also maps the qualitative impact of various factors on smart home cloud platform market segments and geographies.
Smart Home Cloud Platform Market– Report Highlights:
- A detailed overview of parent market of smart home cloud platform market
- Changing smart home cloud platform market dynamics in the industry
- In-depth segmentation of the smart home cloud platform market
- Historical, current, and projected smart home cloud platform market size by value
- Recent industry trends and developments in smart home cloud platform market
- Competitive landscape of the smart home cloud platform market
- Strategies for key players in smart home cloud platform and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on smart home cloud platform market performance
- Must-have information for smart home cloud platform market players to sustain and enhance their market footprint
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