New Report: Consumer Demand for Connected Home Products Slows Dramatically Due to Negative Experiences With Products
A brand new report by Argus Insights, Los Gatos, Calif., states that while home automation was gaining attention and experiencing robust growth in 2014, the sector is now “quickly losing steam.” According to a press release issued yesterday by Argus, data show that as of May 2015 consumer demand for connected home devices such as thermostats, lightbulbs, locks, sensors and cameras experienced its first drop below the level of a year ago, a sign that consumer interest is stagnating.
If there is any good news in this report it is that Argus Insights’ detailed market analysis of the reason behind consumers’ declining interest seems to open the door to an increased level of opportunity for both manufacturers and professional installers in the security/connected-home space.