Despite the Consumer Electronics Show (CES) in Las Vegas having veered mainly into virtual events and meetings, we still saw exciting news coming out as the technology industry came out swinging in the first week of 2022. The smart home was in the spotlight with dozens of announcements from manufacturers, MSPs, and chip makers around new accessories and massive industry support for Tread technology and the new industry standard Matter, which is backed by more than 220 global companies.
Over the last two decades, smart home offerings have been largely free-standing, with cool new gadgets, smart TVs and appliances, voice-activated assistants, and much more. What’s different this year is the focus on simplifying how smart home technology is designed, deployed, and managed, bringing a simpler solution to consumers and more opportunities for managed service providers to bring “packages” to their exciting subscribers while luring new subscribers in this hotly competitive space.
According to Transparency Research, the global smart home as a service market is forecast to reach US$10.9 billion by the end of 2025, up from the market’s valuation in 2016 at US$2.46 billion, delivering an impressive CAGR of 18.1% between 2017 and 2025.
“The demand within the global smart home as a service market is set to increase in the years to follow, Transparency Research said. “Advancements in the energy sector have boded well for the growth of this market. The development of urban centers across all major regions of the world have played a crucial part in popularizing smart homes. The utility and ease offered by the components of smart homes have further caused an uptick in demand across the global market. Several people have become sensitive towards their energy consumption patterns, prompting them to install smart and energy-efficient technologies in their households. Considering these factors, it is safe to predict that the global smart home as a service market would grow at a stupendous pace.”
At CES, Veea announced they would be rolling out their new Smart Home as a Service (SHaaS), enabling Managed Service Providers (MSPs) to offer a full package of capabilities “featuring a Smart Hub with Wi-Fi 6 mesh router technology and application server, IoT connectivity with included radios for Zigbee, Bluetooth, and Thread, support for the new industry interoperability standard Matter, 4G Gigabit LTE or 5G network connection, an intuitive control app with voice support, integration with leading smart home accessories, and robust platform security and built-in remote support,” according to the company.
This all-in-one offering is being offered to Managed Service Providers (MSPs) as a white label solution that can rapidly be brought to market and will soon be available to consumers directly. MSPs can now offer their customers who haven’t yet taken that next step, and for those who simply want a much better experience or truly cut the cord, a comprehensive range of options to their customers to choose from for networking, management, and automation of Smart Spaces along with their data services. MSPs can deliver all this functionality with Zero-Touch Installation (ZTI), truly as a “Drop & Play,” for an individual unit or in bulk for thousands of units shipped to their customers in mixed network environments.
“We see STAX being the standard-bearer for Smart Hubs of the future as a new product category in the broader mass market,” said Allen Salmasi, chairman and CEO of Veea. “With its unique design, breadth of capabilities, and price-performance, and when combined with our Smart Home As A Service offering, this first-of-a-kind bundle delivers on the promise of a turnkey smart home experience for consumers while providing Managed Service Providers a highly sought-after value-added service that will boost subscriber loyalty and retention.”
Edited by Luke Bellos