Internet of Things

Research And Markets Finds Connected Home Market Growing

Research and Markets announced on Wednesday (Sept. 21) the addition of a new research report looking at the connected home market and the cyber risks it could face.

According to a press release, the company said the report “Connected Home Market and Implications of Cyber Risks” looks at the ecosystem of the connected homes market, which it said has expanded “quite rapidly over the last five years.” Today, it encompasses a host of technology players and service providers that covers everything from home automation to communications technology, integrated service providers, utilities and more. The study, which it said is based on a survey of more than 1,200 respondents in the U.S. and Canada, found the adoption of smart home technologies is “significant, growing and challenging.”

The report, said the company, “identifies key differences in the attitudes and behaviors of connected home solution adopters, potential adopters and non-adopters. The study provides an understanding of the types of smart technologies, devices and cybersecurity measures that are being used in North American homes.”

The connected home has been bandied about for years, but in the last few years, it’s become more of a reality. One of the major drivers of these connected homes and the technology is consumers’ need to feel safe and secure in their abode. A recent NPD Group report found four out of every 10 consumers with interest in building a “smarter home” list security or safety as their primary reason for wanting to do so. The study surveyed 5,600 U.S. consumers in April who were age 18 or over. These findings are played out in actual sales figures as well, as network-connected cameras amounted to 61 percent of all interconnected home sales between June 2015 and June 2016. Of the 10 percent of U.S. homes currently considered “smart,” monitors or camera devices were the most common point of entry into the market, according to the report.

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