Smart Home Markets Seek Better Futures Through Government Initiatives


Published Date : Jul 05, 2016

ALBANY, NY, July 05, 2016: MarketResearchReports.biz has added a new research report to its lineup on the global telecommunications industry. The latest report, titled “The Smart Home: A Growing Fifth-Play Opportunity For Operators,” offers its users the key to broader horizons. The report helps users identify the various opportunities of growth and the obstacles that they need to avoid on the way. The report identifies these factors in a manner very specific and useful to telecom companies working in the global smart home market. 

The global smart home market is currently experiencing an exponential growth rate, thanks to the wide array of services and technologies already available in the market, coupled with many more in the pipeline. Major regions and market shares are gathered up by some of the biggest names in the telecom industry as they strive to maintain their leading positions in the global smart home market.

The future of the global smart home market will depend on the current line of startups. Their innovativeness will add major value to this market in the long run. For now, the market is showing a high growth rate due to consistent government funds and awareness initiatives. The global smart home market imparts high returns to an economy in terms of energy savings, thereby making it a high priority in the current times where energy demand is much higher than the supply.

The report also reveals the link between government support for the global smart home market and faster internet speeds. Governments that have consistently supported better broadband connections, especially through the implementation of fiber optics, have also shown high support for smart homes, significantly scaling up the growth rates of the global smart home market.

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However, a major restraint on the global smart home market still remains to be the high costs of deployment and installation. Purchasing new equipment for smart homes is expensive, and so is the cost of maintenance, creating a major obstacle especially for developing economies.

One of the key findings, as mentioned in the report, is the ease with which telecom companies can make their foray into the global smart home market. As most telecom players already hold a unique billing relationship with customers for their networks, the addition of smart homes will be considerably easier.

Additionally, telecom companies in the global smart home market can also significantly increase their value proposition through the use of multi-play OTT strategies. These moves can add more features to their smart home services, such as better security and easier appliance control.

The report states that the global smart home market is currently at a crossroads in terms of ownerships. The new technologies could either become open source to form a large ecosystem that comprises heterogeneous devices, or the global smart home market could move towards a more proprietary tech and service provision that aims for total device control.

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