The smart home space is already gearing up to be a pretty big opportunity for many companies, including two that just went public – Arlo and Sonos. But according to new research from ABI Research, it could be a big opportunity for wireless carriers as well. ABI Research believes that it could be a $11.2 billion business for wireless carriers like AT&T, Vodafone, Orange and others, by 2022. Wireless carriers and ISPs have already been jumping into the smart home space, by selling products that connect over LTE, like LTE-connected smart security cameras. Which allows carriers to not only sell the product, but also get recurring revenue from that sale.
Communication Service Providers are set to be the big winners when it comes to the smart home, at least according to ABI Research's senior analyst Pablo Tomasi. He stated that "CSPs are being threatened in a market increasingly driven by the likes of Google and Amazon with a range of products and services from AI-powered smart home voice control smart speakers to security solutions." Tomasi continued by stating that CSPs will need to take a platform approach to the smart home, to really win the space. This is something that Deutsche Telekom and Comcast have already done. Tomasi also believes that these companies should be using a mix of essential and value-added services, to offer a unique service to its customers.
Many companies are already looking to get into the smart home space, and capitalize on it. With Communication Service Providers jumping in the space, you'll have some pretty unique offerings out there. In fact, Comcast is already doing this with its Home Security service. Which uses security cameras that can be accessed on your smartphone, like a Nest Cam or a Arlo Pro camera. And with the smart home industry potentially opening up a $11.2 billion market for these companies by 2022, it's something they can't afford to miss.