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HomeKit Compatible Device Shipments To Reach 180 Million By 2020

Edmonds, WA - While the smart home has long been a market for early adopters, the maturation of key technologies such as mobile, cloud computing and IoT has widened the appeal of the connected home in recent years. Momentum for the smart home is expected to increase further in the second half of 2015, as products compatible with HomeKit, Apple's new smart home framework, come to market. According to a new report from NextMarket Insights, HomeKit compatible shipments will grow significantly in the coming years, reaching 180 million devices shipped by 2020.  "Apple's track record of creating excitement for nascent markets is unparalleled," says Michael Wolf, Chief Analyst for NextMarket Insights. "HomeKit will create awareness about the smart home among average consumers and will accelerate development in...

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Arrival Of The Smart Kitchen To Change Way We Track, Prep And Cook Food Over Next Decade

Edmonds, WA - As smart home and Internet of Things technology becomes widely adopted in the coming years, one of the areas in the home that will see the greatest change over the next decade is the kitchen. The growing impact of this new technology and the resulting "smart kitchen" will result in a $10.1 billion market opportunity by 2020 according to a new report from NextMarket Insights. "Whether it's food storage, preparation, or the act of cooking itself, the arrival of new technologies will enable consumers to become more efficient, knowledgable and possibly even better cooks in coming years," said Michael Wolf, Chief Analyst with NextMarket Insights. "As a result, we believe that appliance makers, smart home companies as well as those who provide food...

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The Do-It-Yourself (DIY) Smart Home Market Set To Explode In Coming Years According To NextMarket

Edmonds, WA - While a small segment of consumers have long been interested in home automation, only recently has a confluence of new technologies set the stage for broader interest in a new, more expansive smart home. The fastest growing part of this new smart home market is the do-it-yourself (DIY) segment, fueled by a wave of new products that consumers buy, install and manage by themselves. NextMarket forecasts the DIY smart home to reach $7.8 billion in the US by 2019 according to a new report. "Early generations of smart home products were expensive and often required a professional installer," says Michael Wolf, chief analyst at NextMarket Insights. "But over the past few years, new technologies have made the smart home more affordable...

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Home security market set to reinvent itself in age of smart home

Edmonds, WA - Over the next decade, the home security market will undergo massive change, as smart home, mobile and cloud technology enable new alternatives to traditional, professionally installed  solutions. One of the emerging alternatives is do-it-yourself (DIY) self-installed home security solutions which, according to a new report from NextMarket Insights, will account for $1.5 billion in equipment and services by 2020. "The traditional home security market in the US has plateaued at 25% market penetration," says Michael Wolf, chief analyst at NextMarket Insights. "The reason is that while most consumers want to feel safe, only a segment of the market is willing to pay a $40-$50 recurring monthly fee and commit to a three year contract." The paradox of...

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Smart Lock Market Set To See Explosive Growth In Coming Decade

Edmonds, WA - The residential lock market is going to be radically reinvented in the coming decade, as a new breed of connected locks and access control systems grow in popularity worldwide. According to a new report from NextMarket Insights, the global smart lock market will grow from $261 million today to $3.6 billion by 2019. "The mainstreaming of the smart home is driving innovation in previously forgotten categories of home hardware and systems," says Michael Wolf, Chief Analyst with NextMarket Insights. "Established security and home hardware companies increasingly face competition from upstarts who are introducing a new breed of smart and connected locks into the market." The first wave of smart locks were based on Z-Wave and Zigbee and...

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