The Connected Home: Can Your Company Plug Into Opportunity?

Episode notes

The connected home ecosystem comprises an estimated 1.8 billion smart devices, and that number is climbing. In this episode, we’ll explore ‘The Connected Home: Can Your Company Plug Into Opportunity?’ In L.E.K. Consulting’s recent survey, 89% of current connected-product owners had considered purchasing a connected device within the past year. Moreover, 60% of current connected-product nonowners also had considered purchasing a connected device. Depending on the product, search volume for key connected products increased two to three times from 2017 to 2022. And despite variations in the speed of penetration growth, most third-party forecasts expect increases of more than 20% over the next five years or so. Factor in the new Matter standard that enables greater interoperability, and this presents an obvious growth opportunity for an array of prospective players. These include members of the investment community and players within industries that have an organic connection to the space across seven basic categories.

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