Smart home market opportunities
Our homes are at the centre of our lives. It is no surprise that so many people are making their home the best it can be: the smart home market in Europe is expected to grow with 17% until 2020 – meaning that you can expect a good return on investments in this market segment.
Locally it’s also picking up - let’s dive a little further into our home base, the Netherlands.
Expenditure in 2018
More and more homes are becoming smart: the consumer expenditure on smart home products in the Netherlands went from a billion in 2017 to 1,7 billion in 2018. The market leaders remain Philips and our Toon (with one third of the smart thermostat market share).
In 2018, the biggest growth in consumer expenditure took place in three categories: the smart thermostat, smart lighting and smart security. And this growth is expected to continue in the years to come.
14% of consumers who currently don’t own smart security products are projected to buy them, this year. Smoke-, CO- and CO2-detectors are most coveted, next to smart security cameras. The biggest hurdle they face in buying these products, and this can be said of nearly all smart home products, is the price. Which is why we create accessible propositions at Quby that offer bundled services to end-users – like monthly paid insurance bundled with security hardware such as Interpolis ThuisWacht.
Note: the numbers and statements shared in this article are based on a wider research, among which this article.