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Global Smart Hubs Market - Innovations in Product Technology to Drive Growth | Technavio
[November 23, 2017]

Global Smart Hubs Market - Innovations in Product Technology to Drive Growth | Technavio


The global smart hubs market is expected to grow at a CAGR of more than 5% during the period 2017-2021, according to a new market research study by Technavio.

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Technavio has published a new report on the global smart hubs market from 2017-2021. (Graphic: Busin ...

Technavio has published a new report on the global smart hubs market from 2017-2021. (Graphic: Business Wire)

The report presents a comprehensive breakdown of the global smart hubs market by distribution channel that includes specialty retailers, electronic stores, online, discount stores, and others. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

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Market driver: innovations in product technology and product features

Innovations in product technology and product features are driving the global smart hubs market. Smart hub coordinates with sensors, cameras, light switches, and other products and such devices usually work on wireless technology. A smart hub sends and receives signals to and from individual devices by deploying several wireless communication protocols. Multiple vendors in the global smart hubs market offer smart hubs that can be connected to many devices. For instance, Samsung (News - Alert) Electronics offers Samsung SmartThings Hub that connects with smart lights, locks, outlets, thermostats, and other products. Such innovations are expected to drive the market during the forecast period.

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Market trend: increased availability of voice-based speakers


At present, a few players in the market offer smart home speakers that are controlled by voice-controlled intelligent personal assistants. Smart home speakers available in the market are clubbed with features like voice control, calling, messaging (through personal assistants' cloud connectivity), and playing music from Prime Music, Pandora (News - Alert), iHeartRadio, TuneIn, and others.

According to Shikha Kaushik, a lead analyst at Technavio for home, kitchen, and large appliances research, "Amazon offers Amazon Echo that works on Alexa, a company-developed personal assistant. Alexa answers questions, reports traffic and weather, reads the news, gives information on local businesses, reads audiobooks from Audible, provides sports scores and schedules, and others. Amazon Echo also controls lights, switches, fans, garage doors, thermostats, locks, sprinklers, and more with compatible connected devices from Philips (News - Alert) Hue, WeMo, Nest, Samsung SmartThings, and others."

Market challenge: high dependency on Internet connectivity and app-related issues

The operability of smart hubs is highly dependent on Internet connectivity, and any disruption in internet connectivity hampers the operability of a smart hub. The functioning of smart hubs is affected by issues related to sensor connectivity. These issues hinder the functioning of smart hubs and the user is unable to detect the device on their smartphones until connectivity is restored. Some users face issues with Wi-Fi and firmware updates.

Issues related to the power supply are also hindering the growth of the market. Fluctuations in power supply lead to application interface issues in smart hubs. These app interface issues pose challenges to the market's growth during the forecast period.

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Key vendors in the market

  • LG Electronics
  • Logitech (News - Alert)
  • SmartThings
  • WINK LABS

Well-diversified international and regional vendors are present in the global smart hubs market. As the international players dominate the market, regional vendors are facing difficulties to compete in terms of quality, technology, and price. The competitive environment in this market is expected to increase with the rise in product or service extensions and technological innovations.

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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