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02
Mar
2017

The Key to Smart Home Success is Innovation

POSTED BY Sam Barker
Due to the fragmented nature of the Smart Home market, innovation will play a key role in a success of start-ups, rather than agility. The ‘Big 4’ platform providers, Apple, Amazon, Google and Samsung will continue to have a monopoly on the market, therefore any successful new entrants into the market will be those who integrate themselves into a wider offering from the bigger players.
 
 


However, the greatest challenge for any start-up in the Smart Home market continues to be the inability to determine the industry’s path in the future. A start-up’s influence on the market is not big enough to drive mass adoption of a technological standard, business model or process. Where, for example, Apple has been able to drive wider take-up of NFC‑enabled solutions across some retail and financial industries, no start-up will be able to singly ensure that a low-power communications technology becomes dominant in the Smart Home; unless they emerge from start-up status.

Juniper believes the entertainment segment of the Smart Home to be the most viable in terms of consumer uptake, for the simple reason that entertainment services are almost universally desired. With this in mind, Juniper believes that the connected entertainment segment has the potential to provide a springboard for the delivery of other Smart Home services, including those from new entrants. Building trust amongst consumers will be cirtical to long term success of the wider Smart Home business model.

Juniper’s new research into the sector, Smart Home Markets: Entertainment, Monitoring, Automation, Health, Metering, Appliances 2017-2021, explores the prospects for new entrants and start-ups in the space.
 

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