Competition in the Smart Home Market Remains Fierce as Companies Vie for a Leading Role
A new Leaderboard Report from Navigant Research names Google and Amazon as the leading smart home solution providers. The report examines the strategy and execution of 15 smart home solution providers.
Amazon and Google are the Leading Smart Home Solution Providers @NavigantRSRCH https://bit.ly/2KH30kF
The smart home has the potential to revolutionize the way we interact with technology. Smart homes not only respond to and anticipate consumer needs based on learned lifestyle patterns and real-time interactions but also bring benefits to vendors and service providers looking to the smart home to mitigate threats to traditional business models. Click to tweet: According to a new Leaderboard report from NavigantRSRCH, Amazon and Google are the leading smart home solution providers.
“Amazon’s introduction of its Echo devices in 2014 has had an unprecedented effect on the smart home market and the company has yet to slow down, though it now faces challenges around user experience and privacy, as well as more intense competition,” says Paige Leuschner, senior research analyst at Navigant Research. “Google’s similar launch of its Google Home device nearly 2 years later leaves the company trailing Amazon, but that has not deterred Google from catching up and affecting the market.”
Competition in the smart home market is fierce, with a range of companies vying for a leading role. Large tech incumbents, startups, and service providers with an existing residential footprint are all moving into the market in order to better engage and retain customers, increase satisfaction, and generate new revenue streams.
The report, Navigant Research Leaderboard: The Smart Home, reflects the variety and weight of competitors engaged in the smart home market. It examines 15 smart home solutions providers offering comprehensive smart home solutions that include a combination of hardware, software, and services. These players are rated on 10 criteria: vision, go-to market strategy, interoperability, product portfolio, geographic reach, sales and marketing, solution performance, data privacy and security, pricing, and staying power. Using Navigant Research’s proprietary Leaderboard methodology, vendors are profiled, rated, and ranked with the goal of providing an objective assessment of their relative strengths and weaknesses in the global smart home market