While the advent of smart home solutions has created new revenue streams for residential security companies and subsequently increased the value that an alarm system provides to consumers, the technology still faces several challenges that could hinder its growth moving forward. In fact, according to Tim Hewitt, analyst for security and building technologies at IHS Markit, while the initial uptake of smart home systems by early adopters was in line with expectations, existing market barriers have become more significant as companies have tried to expand their offerings to the broader market. As a result, Hewitt said the market research firm has revised its forecasts to account for the lack of broader consumer interest in connected home products.
The global market for semiconductors used in smart meters is expected to rise in the next few years as demand for precise energy measurement and communications increases from utility vendors, according to a new report from IHS.Shipments of communicating meters used for two-way communications between smart meters and utilities are forecast to rise to 150 million units by 2019, up from 132 million units in 2015, IHS says. Meanwhile, global revenues for semiconductors used in water, gas and electric meters reached $1.2 billion in 2014 and has a five-year compound annual growth rate (CAGR) of 8%. The average semiconductor cost in two-way meters was approximately $11 in 2014, but IHS sees this average selling price (ASP) increasing in the next few years for 32-bit microcontrollers, memory chips, single system-on-chips (SoCs) and other components used in energy meters.
If you thought the smart-home movement was coming on strong, new data suggests you haven’t seen anything yet.Smart appliances — or products like washing machines, dryers, refrigerators and others that can connect to the Internet and each other — are set to proliferate in the coming years, new data from research firm IHS shows. The company said that in 2014, just 1 million smart appliances were shipped worldwide. By 2020, that figure will jump to 223 million units. If smaller home appliances, like electronic toothbrushes and coffee machines are included, the total number of smart devices that will hit store shelves in 2020 will soar to 700 million.
Cloud-based home management systems that allow users to remotely control household features like lighting and air conditioning are set for rapid growth in the coming years, poised for an eightfold increase from 2013 to 2018, according to IHS Technology. This year alone, IHS projects the installed base will increase 63 percent.
In 2014, global photovoltaic (PV) installations are forecast to rise at their fastest pace in three years, exceeding 40 GW for this first time and generating installation revenue of more than $86 billion, according to IHS Inc.
Annual solar installations are predicted to expand at a rate of 18 percent in 2014, reaching 41 GW and firmly marking the end of the solar industry’s two-year slowdown. PV installations in 2014 will rise by 17 percent, representing an increase of 15 percent in 2012 and 13 percent in 2013, with 2014 will seeing the highest growth rate since the 35 percent increase in 2011, IHS predicts.
Small emerging markets are the next big opportunity for global solar growth, according to IHS, where photovoltaic (PV) installations are expected to rise at about triple the global average from 2012 through 2017.
Credit: Fieldsken Ken Fields/Wikimedia Commons
Annual installations in emerging countries are expected to increase to 10.9 GW in 2017, expanding at a compound annual growth rate (CAGR) of 38 percent from 2.2 GW in 2012, according to IHS.
The market for Smart Grid sensors in North America is expected to grow dramatically during the next two years, according to a new study published by IMS Research, now part of IHS Inc.
The report, entitled “The North American Market for Smart Grid Sensors – 2013,” shows a major change is occurring in the feeder line sensing market in North America, with emerging technologies being offered from a series of new entrants to the market.
By 2014, IHS predicts that the Smart Grid sensors market will more than double in size from estimated 2012 levels, with annual revenue topping $100 million for the first time in 2015.
By 2014, IHS predicts that the smart grid sensor market will more than double from estimated 2012 levels as major changes occur in the feeder line sensing market and emerging technologies are offered from a series of new entrants.
Global shipments of volt/VAR optimization (VVO) control electronics used in smart electricity grids will double during the next five years, according to a new report from IMS Research, now part of IHS.
Despite a slowdown in some areas of smart grid spending after the boom years of the American Recovery and Reinvestment Act of 2009 (ARRA), the report anticipates strong growth in VVO in the coming years, propelling shipments and revenue alike. From barely over 50,000 units this year, VVO control shipments are expected to climb to well over 100,000 units by 2018.
Following three years of decline, the combined market for distribution automation hardware and smart meters in North America will resume its expansion in 2015, with revenue rising to $3.2 billion, up 3% from $3.1 billion in 2014, according to a new report from IMS Research, now part of IHS. By 2017, the market will expand to $3.6 billion.
The company says the shale gas boom in the U.S. is playing a key role in the development of the nation’s smart electricity grid and will affect almost every part of utility infrastructure decision-making in the coming decade – and drive a resurgence in the market for smart grid equipment starting in 2015.