A smart home hub is hardware or software that connects devices on a home automation network and controls communications among them. Smart home hubs, which connect either locally or to the cloud, are useful for the internet of things (IoT) devices that use the Zigbee or Z-Wave protocols or Bluetooth, rather than Wi-Fi. A smart home hub usually has a built-in switch, which maintains the information necessary to determine how and where data is forwarded. Devices may also include computing resources to perform some processing tasks before data is forwarded. The associated smart home app acts as a "universal remote" for all smart home devices, allowing the owner to monitor elements of the smart home network and automate, schedule, and control tasks. Smart home hubs are able to control many smart home and IoT-enabled devices and systems, including smart sensors on thermostats, lightbulbs, outlets and switches, door locks and sensors, doorbells, garage door openers, energy monitors, and window treatments/coverings and sensors. They can also control motion sensors, flood and leak sensors, smart radios and speakers, security systems and cameras, smoke and carbon monoxide detectors, irrigation controllers, fans, water heaters, and other household appliances.
The first smart home hub was launched in 2012, and was called SmartThings. The system was acquired by Samsung in 2014. Originally it was only a hardware device, however software smart home hubs have recently become available. Software-based smart home hubs unify the various smart home devices on a smartphone, reducing the need for another box on the shelf. You can find Smart Home Hub Market Size, Smart Home Hub Market Share by Access Technology, and other trends and statistics below and you can learn more about T4's strategy consulting services here.
The chart shows the Smart Home Hub Market Size from 2016 to 2022. In 2019, the size of the Smart Home Hub Industry was 3M units and is projected to grow 5% in 2020. From 2016 to 2022 the Smart Home Hub Industry growth is projected to average 6% per year. These estimates were made before the Coronavirus (COVID-19) pandemic. The short term impact of COVID-19 on the Smart Home Hub market growth will likely be Medium because an increasing number of consumers, children, and employees stay indoors, using several devices at home. The demand for smart home hubs may increase as electronic devices become an essential tool for the activities at home; but the supply may face difficulties, since factories are operating at a lower capacity. The long term impact of COVID-19 on the Smart Home Hub market growth beyond the COVID-19 pandemic will likely be Medium because much of the supply chains for smart home devices and smart home security products and services are facing supply constraints as factories are operating at much lower capacity resulting in component shortages. The demand may face difficulties in the long term until production is restored completely. Request help with obtaining the source for this data and learn more about T4's strategy consulting services here.
The chart shows Smart Home Hub Market Share by Access Technology in 2017. The Smart Home Hub Market is highly dominated by integrated appliances. The leading Access Technology in the Smart Home Hub Industry was Integrated Appliances with 97% market share in 2017, followed by Stand-Alone Appliances with 3% Smart Home Hub market share. Get help with market research for the Smart Home Hub market, including the source for this Smart Home Hub Revenue Share by Access Technology chart and learn more about T4's strategy consulting services here.
Innovations in product technology and product features are driving the global smart hubs market. The increase in per capita income and the number of dual-income households constitute the basis of increasing spending on innovative devices such as a smart home hub. The increasing number of connected devices in households, the growing popularity of voice-first technology, increasing investment in IoT by vendors, and rising push for a digital economy in developing economies are the latest trends that the market is going to foresee. The increasing clutter of smart home devices in households develops the need for a central device that can help end users control all other connected devices. The increasing acceptance of voice technology and growing investment in IoT are the latest trends that are expected to boost the smart home hub market.
Learn about T4's Consulting servicesSmart Home Hub is a Growing market dominated by Integrated Appliances. Integrated Appliances market share was 97% of the Smart Home Hub market in 2017. One of the biggest benefits of a smart home hub is that it can be integrated directly into other smart home features. Stand-Alone Appliances market share was 3% of the Smart Home Hub market in 2017. These solutions focus on only one security device, such as smart speakers, smart tv, smart thermostats, etc.
T4's research team can help you learn more about the Smart Home Hub industry with market analysis, competitive analysis, commercial Due Diligence, and other market research needs. This includes deeper analysis on competitors in the Smart Home Hub market, including: Samsung Smartthings, Amazon Echo Dot, Hubitat Elevation, Amazon Echo Plus (2nd Gen), Amazon Echo Show, Apple TV 4K, Samsung Connect Home, Amazon Alexa; research into related topics such as Smart Home Security, Internet of Thing (IoT), Flood Sensors, IoT Carbon Monoxide Detectors, IoT Security Cameras, IoT Security Systems, Keycard Readers, Smart Home Entertainment; or additional support in the Technology, Software, Internet of Things (IoT) Sectors or others. Learn more about T4's strategy consulting services here.
