Smart Home Markets
The explosion of the smart home market is an unstoppable trend. This trend was evident at this year’s International CES. _Prices have fallen, and market education has improved significantly,î said Chang. In the early days, the smart home concept was relatively new, and market education was a barrier toward mass adoption. It was difficult to provide a scenario that end-users can relate to. Many consumers didn’t understand how different parts of the home could interact, not to mention envision the benefits of that interaction.
_New business models have also proven to be effective. You don’t need a hefty upfront investment or a professional installer anymore. Telcos and cable companies offer tiered services that consumers can pick and choose from–whetherthey need home security, energy efficiency or home care,î Chang said.
In Europe, which is Eversprings strongest market, Chang works with telcos to expand the market; in the US market, leading market channels and brands are Eversprings main partners. When comparing the US and European markets, Chang observed that the US smart home market is still ahead of the rest of the world by three years, exemplified by the wide availability of DIY products. In contrast, the European market is dominated by telcos, but Chang believes the European market is catching up fast.
Every market is slightly different, Chang said. _The smart home market is highly dependent on customization. End-users in the U.S. and Europe have different requirements. The governments also have different regulations. Solutions and products need to be able to cater to these different needs.î
When asked how Everspring caters to these various needs, Chang answered, _We not only have experience providing home security services directly to end users, we have also learned a lot by collaborating with system integrators around the world. We have a deep understanding of international markets, which we have gained through working with partners in more than 30 countries.î