Evolution of the Smart Home Hub is the Next Growth Frontier, Finds Frost & Sullivan

Purposeful design and efficient use of space are transforming the home into a smart home hub

SAN ANTONIO,April 19,2022 -- Frost & Sullivan's recent analysis,Global Home as a Hub Growth Opportunities,finds that the COVID-19 outbreak has transformed the conventional home into a smart home hub,encompassing a place for work,health and wellness,and entertainment. This encourages smart home market participants to develop products for the home hub ecosystem to provide a premium home experience. Additionally,companies need to embed artificial intelligence (AI) and machine learning (ML) algorithms into connected home devices to facilitate self-learning behavior and maintain a competitive edge.

Evolution of the Smart Home Hub is the Next Growth Frontier,Finds Frost & Sullivan

For further information on this analysis,please visit: https://frost.ly/77t

"As people spend time together at home post-COVID-19,the need for flexible,multifunctional living spaces that fulfill their requirements will emerge globally," said Akshay Ramesh Menon,TechVision Research Analyst at Frost & Sullivan. "This will drive demand for smart home adoption,particularly for lighting and energy management,connectivity solutions,and smart security services."

Menon added: "Although connected living drives digital resilience,it also carries major risks,such as data insecurity and vulnerability to cyberattacks. As a result,companies and cities need to work together to embed robust cybersecurity and privacy principles from the outset and develop a detailed cybersecurity strategy for home hub solutions."

To tap into the growth prospects of the home as a hub,market participants should consider:

Developing robotsthat facilitate office tasks such as calendar management,scheduling meetings,travel bookings,and managing receipts and accounts.

Providing a user interface to report crimes and help local authorities,ensuring residential safety and security.

Working with virtual power plants to help customers interested in switching to self-sufficient,energy-generating homes.

Global Home as a Hub Growth Opportunities is the latest addition to Frost & Sullivan's TechVision research and analyses available through the Frost & Sullivan Leadership Council,which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

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Global Home as a Hub Growth Opportunities

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