Johannesburg, 09 Nov 2022
As telecoms operators look for ways to maximise revenue and further distinguish themselves in highly competitive markets without diminishing service quality or customer satisfaction, there is an opportunity to bundle smart home services with existing data packages and it’s worth telcos giving it some serious consideration. Smart home solutions are a perfect complement to service providers' fixed and wireless broadband offerings, enabling them to expand services and create new revenues with their existing customer base.
A Statista report predicts that the revenue of the smart home technology market will reach $24.8 billion this year, and will continue to expand at a 12.82% annual growth rate and reach around $47 billion by 2025. The same report found there are over 175 million smart homes already in the world today, with that number obviously set to increase as this technology becomes more mainstream.
One of the biggest trends currently in the smart home market is the demand for devices that improve home security. But, with advancements in smart home technology, new devices not only keep personal data safe, but can also boost the overall security and response time when it comes to home intrusion. Devices such as smart security cameras, smart doorbells and smart door locks can all help homeowners keep their houses safe, whether at home or away.
Smart home security goes beyond defending from physical home intrusions and should also include monitoring data protection from potential cyber invaders. The general threat that people envisage while using technology is the breach of privacy and data. Last year, over 3 000 customers of a well-known video doorbell service had their personal data leaked, with some families facing the nightmare of hackers seeing inside their homes and secretly controlling their cameras.
“New privacy and security features will continue to grow, including cloud storage for video cameras and encrypted networks to securely manage your security system’s data to avoid hacking and data leaks,” said Aniel Jhingoeri. “By offering connected safety, security, surveillance and intrusion detection services, such as Radisys Reach Smart Home solution, for both physical and cyber home invasions, telecoms operators can grow revenue and receive faster ROI.”
Another major trend in the smart home market currently is the demand for energy efficient devices. Smart lighting is one of the first smart home implementations that has gained wide adoption among households across the world. Homeowners can create custom actions that automatically turn your lights on and off at sunrise or sunset or set it so certain lights turn off after a certain period of time, which helps conserve energy without even lifting a finger. The use of smart plugs allows users to manage nearly any other wired device with an on/off switch and collect energy usage data for informed decision-making. By adding smart lighting and energy solutions to their portfolio, telecoms operators can not only increase their own profits, but can also enable consumers to save on energy costs and achieve sustainability goals in a win-win scenario.
Finally, the increased connectivity of all appliances within a household through the use of hubs is most likely the hottest trend in the smart home market at the moment. Fragmentation of smart home technologies and the lack of connectivity between different intelligent devices and systems is a standing problem. It directly influences user experience and, as a result, hampers adoption. However, such hubs are used to enable centralised control and management, giving homeowners the ability to control most everything in their house from one spot.
“Connectivity is the key to the future of smart homes, as they’re overall great solutions that afford consumers control over things like smart lights, locks, speakers, cameras and thermostats, all from one spot instead of dozens,” said Jhingoeri. “Smart home solutions, such as Radisys Reach Smart Home, allow telecoms operators to offer their customers a safe and secure home by connecting all smart appliances, sensors and controllers through a central hub, while also managing costs and streamlining operations.”
The use cases for smart home technology continue to evolve and grow. As the market grows and brings new advancements, providers must adapt their offerings to keep up with the competition. Radisys Reach Smart Home delivers a flexible, scalable solution that positions service providers to be competitive in the market while leveraging the growing innovation of an open device ecosystem. To learn more, visit www.radisys.com or speak with a Radisys team member at Africa Tech Festival, in Cape Town, from 7-11 November 2022, in Hall 3 at stand F61.
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