Revenues from ‘smart home’ services will reach US$71 billion (€52 billion) in 2018, up from US$33 billion last year, according to Juniper Research.
According to Juniper’s Smart Home Ecosystems and the Internet of Things report, almost 80% of total smart home service revenues will come from entertainment services by the end of the forecast period.
Juniper said growth to date has been driven by over-the-top TV services including Netflix, Lovefilm and Amazon Instant Video.
Juniper cautioned that the emergence of 4K video services and Internet of Things smart home devices would likely place networks under additional strain, meaning that operator will need to ensure networks are modernised and transitioned to new technologies.
The report also found that security and control elements of the smart home will provide an opportunity for service providers. Juniper estimate that this market will approach US$12 billion by 2018.
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