While homes will always be a place to live, they are quickly becoming more -- from remote offices to grocery delivery points to virtual doctor’s offices. Digital services are immersed into homes, bridging the gap with the outside world and allowing things to be controlled digitally. Sensors collect real-time data continuously to automate lighting, heating, and appliances, minimizing energy consumption while maximizing convenience. Secure, seamless wireless connectivity is paramount in making homes smarter.
Growth in Smart Home
Smart Locks
The global smart lock market, valued at USD $1.4 billion in 2021, is expected to expand at a CAGR of 21% until 2028.
LED Bulbs
The global smart LED bulb market is expected to grow at a CAGR of 23% and reach USD $14 billion in 2023.
Switches
The global light control switches market is expected to grow at a CAGR of 10% and reach USD $12 billion by 2027.
Sensors
The smart home IoT sensor market is expected to grow at a +16% CAGR 2019 – 2026 based on ABI research.
What Smart Home Users Need From IoT
Privacy
Homes are supposed to be the safest place to live, but IoT devices can introduce a security threat. Users expect devices entering their home and connecting to the network to be secure throughout the lifetime in use. A single breach is enough to lose their trust.
Wireless that works
Users want smart home devices to connect seamlessly and smoothly throughout the lifetime of use, regardless of the location and circumstances. Obstacles or intermittent connection can frustrate the user and affect the brand.
Simplicity
With a vast number of smart home ecosystems available, users simply want devices that talk to other devices in their ecosystem without a hassle. Although the ecosystem software versions are changing frequently, users want to keep their devices connected.
Useful and Affordable Devices
Smart home devices are not vanity gadgets anymore; they must fulfill a real-life need at an affordable price. Device makers must develop a blockbuster IoT product and keeping it shipping for years to come despite evolving regulations, standards, and ecosystems.
How to Meet IoT Product Lifecycle Challenges
To succeed in the intensely competitive smart home market, it is not enough to just develop and launch products to the market. With the continuously evolving software, security and wireless ecosystems, you must consider how to manage the entire IoT product lifecycle, from design to decommissioning, while meeting the user requirements every single day.
Explore Our Smart Home Solutions
Resources
Tuya Smart Brings No-Code IoT Development to Anyone Using Silicon Labs’ Wireless Solutions
LEEDARSON Chooses Silicon Labs MG24 Wireless SoC and Matter to Simplify IoT Development
Matter - How to Go from Smart Home Silos to One Unified Wireless Ecosystem
Project CHIP is now Matter. Together we're leading the future of IoT
Smart Home Development Series
Omdia Smart Home Market Dynamics Report
The Future of Wi-Fi in Low-Power IoT Devices
Smart Home: Works With Any Ecosystem
The Future of Smart Home Design
Preparing for Next Gen Cyber Attacks on IoT
Flipping the Switch on Smart Connected Lighting
Z-Wave 700: Unlocking Smart Home Potential
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