Smart Home Payments: Market Forecasts, Segment Analysis & Use Cases 2020-2025

• Use Case Analysis: Extensive assessment of the main use cases for payments in the smart home, including the current extent of market disruption, what challenges there are to future growth and what the future outlook is. This analysis includes three main areas:
  • Connected appliance payments
  • Connected TV payments
  • Smart speaker payments
• Market Dynamics: Detailed analysis of the current state of evolution of the smart home market and the challenges that the market faces in further growth.
• Vendor Analysis: 7 leading vendors are analysed, in terms of current progress and future potential, including:
  • Amazon
  • Apple
  • Google
  • LG
  • Mastercard
  • Samsung
  • Visa
• Benchmark Industry Forecasts: Forecasts sizing markets up to 2025 for 3 key markets, split by our 8 key regions and by the below 19 countries:
  • Australia
  • Brazil
  • Canada
  • China
  • Denmark
  • France
  • Germany
  • India
  • Japan
  • Mexico
  • Netherlands
  • Norway
  • Portugal
  • Saudi Arabia
  • South Korea
  • Spain
  • Sweden
  • UK
  • US

1. What is the anticipated global transaction value for smart home payments over the next five years?
2. Which device types have the best growth prospects for payments integration?
3. How must voice assistants and their role in the smart home evolve to support greater eCommerce use?
4. What role must payment providers play in the market to support growth?
5. What are the prospects for smart appliance payments over the next five years?

Case Studied Vendors: Amazon, Apple, Google, LG, Mastercard, Samsung, Visa.
 
 
Mentioned: Alibaba, AllSeen Alliance, Ally, American Express, Ariel, ARM Holdings, Aviva, Bosch, Business Wire, Capgemini, Capital One, Common Voice Dataset, CommScope, Costco, Cujo AI, Dash, Deutsche Telekom, Discover, Epson, Facebook, FIDO Alliance, Fitbit, FreshDirect, Glad, Hershey, Hisense, Home Depot, Hue, IBM, ICICI Bank, IEEE (Institute for Electrical and Electronics Engineers), Intel, Invoca, IoT TWG (IoT Technical Working Group), iRobot, JP Morgan, LCD, Lenovo, Microsoft, NatWest, Netflix, NuData Security, Ofcom, Open Connectivity Foundation, Orange, PayPal, PaySafe Group, Peloton, Philips Lighting, Philips Sonicare, Procter & Gamble, PYMNTS, Qualcomm, Sainsbury’s, Samsung SmartThings, ShopRite, Siemens, Signify, Silicon Labs, Sony, Spotify, TD Ameritrade, U.S. Bank, Walgreens, Whole Foods, ZigBee.
 

Juniper Research’s Smart Home Payments forecast suite includes:

• Forecasts, including transaction volume and value across three key verticals for use of smart home payments:
  • Connected appliance payments
  • Connected TV payments
  • Smart speaker payments
• Interactive Scenario Tool allowing users to manipulate Juniper Research’s data for 10 different metrics.
• Access to the full set of forecast data of 36 tables and more than 7,300 datapoints.

Geographical splits: 19 countries

Harvest: Our online data platform, harvest, contains the very latest market data and is updated throughout the year. This is a fully featured platform enabling clients to better understand key data trends and manipulate charts and tables, overlaying different forecasts within the one chart - using the comparison tool. Empower your business with our market intelligence centre, and get alerted whenever your data is updated.

Interactive Excels (IFxl): Our IFxl tool enables clients to manipulate both forecast data and charts, within an Excel environment, to test their own assumptions using the Interactive Scenario Tool and compare selected markets side by side in customised charts and tables. IFxls greatly increase a clients’ ability to both understand a particular market and to integrate their own views into the model.

• The total transaction value of smart home payments, payments that occur via smart home devices, will exceed $164 billion in 2025, from $22 billion in 2020. Increasing use of voice assistants via smart speakers for eCommerce, propelled by rising user and merchant acceptance, will drive a dramatic growth of over 630% in total values over the next five years.
• The use of smart displays will be transformative for voice payments in the home by allowing users to see products and confirm purchases. To facilitate this, voice assistant vendors must ensure that the checkout process handoff between smart speakers and smart displays is seamless; unlocking more complex and higher cost purchases.
• Utilising existing digital wallets is crucial to the success of smart home payments. Smart home device manufacturers should combine the massive installed base of payment-enabled smart home devices, which will be over 2.7 billion by 2025, with popular digital wallets, such as Google Pay or PayPal, to best access existing digital payments users. • Connected TV payments will be highly significant; accounting for over 20% of total transaction values in 2025; supported by strong levels of content purchases. However, the opportunities for connected appliance payments will be limited; accounting for under 1% of total smart home payments values in 2025, as they are restricted by the high price of payment-capable appliances and the lack of supporting delivery services.