The home security and automation service industries are evolving with the rest of the digital consumer landscape, with new solutions, services, devices, and competitors affecting supply-and-demand. A report by Frost & Sullivan titled, “U.S. Digital Consumer and Home Automation Market Transformation, Forecast to 2023”, describes the role home automation has in the consumer landscape and how vendors in the industry can best prepare for the future at a time when devices and vendors are proliferating, yet adoption remains slow.
Imran Khan, a Digital Transformation Senior Industry Analyst at Frost & Sullivan, talked about the report’s findings in a press release, saying that, “While it is still at an early adoption stage, greater availability, effort, clarity, and marketing of home automation products and services will contribute to increased consumer awareness, mitigate confusion over choice and drive adoption. To gain a competitive advantage, vendors need to ensure consumers understand the value proposition of installing such products in a way that resonates with early adopters as well as the mass market.”
The report provides an overview of the supply-and-demand perspective in the smart home market while focusing on technology usage and adoption, housing trends, and the competitive environment. It also talks about potential challenges for the market, which include perceived difficulties in installation, cybersecurity fears, high device prices, and solutions having unclear value proposition or a perceived lack of benefits.
Khan continues by saying that vendors need to understand what current users for home automation are satisfied with, and this understanding can help differentiate brands and products on the market. “Positive word of mouth is often a more viable alternative to company promotions when marketing complex solutions.”
