The global smart hubs market to grow at a CAGR of 5.25% during the period 2017-2021.
Global Smart Hubs Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one driver in the market is innovations in product technology and product features. Innovations in product technology and product features are driving the global smart hubs market. A smart hub coordinates with sensors, cameras, light switches, and other products. Such devices primarily work on wireless technology. By deploying a number of wireless communication protocols, a smart hub sends and receives signals to and from individual devices. Multiple vendors in the global smart hubs market are offering smart hubs that can be connected to a large number of devices.
One trend in the market is increased availability of voice-based speakers. Currently, a few players in the market offer smart home speakers that are controlled by voice-controlled intelligent personal assistants. Smart home speakers available in the market are clubbed with features like voice control, calling, messaging (through personal assistants cloud connectivity), and playing music from Prime Music, Pandora, iHeartRadio, TuneIn, and others.
Further, the report states that one challenge in the market is high dependency on internet connectivity and app-related issues. The operability of smart hubs is highly dependent on internet connectivity. Any disruption in internet connectivity hinders the operability of a smart hub. The functioning of smart hubs is affected by issues related to sensor connectivity. Connectivity issues hinder the functioning of smart hubs, and the user is unable to detect the device on their smartphones till connectivity is restored. Some users face issues with Wi-Fi and firmware updates.
Other prominent vendors
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Distribution Channel