Smart Home Devices and Services to leverage Private Assets for Smart Cities Solutions
OYSTER BAY, New York, June 13, 2018 /PRNewswire/ -- The growing power of smart home devices and services will increasingly extend their influence outside of the home and into wider smart city programs, finds new research from ABI research, a market-foresight advisory firm providing strategic guidance on the most compelling transformative technologies. Over the next five years, smart home and smart city providers will increasingly leverage the overlap between these two traditionally separate markets as smart home services provide a ready and expandable Smart City IoT resource.
"So far, smart city programs have been dominated by broad, large-scale implementations. Increasingly, either these projects will expand to embrace smart home partners, or they will see some of the primary applications encroached upon by progressive smart home providers," says Jonathan Collins Research Director at ABI Research.
By 2022 a global install base of nearly 300 million smart homes will put smart home providers in the position to provide a ready data source for smart city applications. Current smart city projects typically address applications including transportation, healthcare provision, environmental management and more. Increasingly, smart home providers are showing they can deliver similar functionality by adding additional application capabilities for their smart home customer base.
Perhaps the best current example of smart home deployments engaged in driving smart city benefits is the integration of smart thermostats into utility demand management programs. Instead of utilities developing their own direct to consumer smart home plays, they have instead turned to smart home players such as Nest, Honeywell and others to deliver the remote control over end-user heating and cooling demands to help manage peak loads. ABI Research finds that worldwide by 2022, more than 80 million homes with smart thermostats are set to have control of the heating and cooling in the home linked to smart grid control.
Already home security smart home players Vivint and Ring (now part of Amazon) are providing video surveillance features using external smart home cameras. Vivint's Streety app provides shared video access to subscribers within a fixed neighborhood, replicating smart city video monitoring of public spaces but through a crowdsourced model. Other applications are still in their earliest stages. Parking management is an often-tackled smart city application, but the rise of crowdsourced parking solutions presents another smart home opportunity. Although still in its earliest days, the potential for crowdsourced parking services to be integrated into wider smart home management features such as access control or electric vehicle charging could prove compelling integration drivers.
These findings are from ABI Research's The Emerging Role For Smart Homes In The Smart City report. This report is part of the company's Smart Home research service, which includes research, data, and Executive Foresights.
About ABI Research
ABI Research provides strategic guidance for visionaries needing market foresight on the most compelling transformative technologies, which reshape workforces, identify holes in a market, create new business models and drive new revenue streams. ABI's own research visionaries take stances early on those technologies, publishing groundbreaking studies often years ahead of other technology advisory firms. ABI analysts deliver their conclusions and recommendations in easily and quickly absorbed formats to ensure proper context. Our analysts strategically guide visionaries to act now and inspire their business to realize a bigger picture. For more information about ABI Research's forecasting, consulting and teardown services, visionaries can contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.
SOURCE ABI Research