Here's why the US smart home market is poised to take off

The US smart home market has yet to take off. Quirky’s recent announcement that it was filing chapter 11 bankruptcy — and selling off its smart home business, Wink — highlights this well.

At its current state, we believe the smart home market is stuck in the ‘chasm’ of the technology adoption curve, in which it is struggling to surpass the early-adopter phase and move to the mass-market phase of adoption.

There are many barriers preventing mass-market smart home adoption: high device prices, limited consumer demand and long device replacement cycles. However, the largest barrier is the technological fragmentation of the smart home ecosystem, in which consumers need multiple networking devices, apps and more to build and run their smart home.

In a new report from BI Intelligence, we analyse current US consumer demand for the smart home and barriers to widespread adoption. We also analyse and determine areas of growth, and ways to overcome barriers.

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Here are some key takeaways from the report:

In full, the report:

Some of the companies mentioned in this report include Apple, Google, Nest, August, ADT, Comcast, AT&T, Time Warner Cable, Lowe’s, and Honeywell.

Access the full report >>

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