According to a new Markets and Markets report, the smart home industry is estimated to reach $58.68 billion by 2020. Segments such as security and smart locks are driving the smart home market currently and with over 90% penetration in this segment, the Z-Wave Alliance continues to grow the Z-Wave smart home ecosystem for consumers and manufacturers, alike.
With a record-breaking Z-Wave quarter, Sigma Designs announced that a cumulative lifetime 40M Z-Wave IoT devices have shipped into the smart home market. With more manufacturers, integrators, installers and service providers turning to Z-Wave, Z-Wave Alliance membership has grown by 30% over the same period last year, resulting in the addition of more than 75 new full members to the organization’s roster. The year kicked off with the induction of SmartThings and LG Uplus to the Alliance Board of Directors, while new member companies and brands include Samsung SDS, Technicolor and Nutone, among numerous others.
With the addition of new members and expansion of existing members, Z-Wave certification has compounded, delivering broad, global Z-Wave product availability and compatibility to the market. With more than 1,350 total Z-Wave certified devices, including 100 new Z-Wave Plus™ certifications, consumers have a path to the smart home that guarantees interoperability plus backward compatibility of all Z-Wave certified devices in the market, regardless of product, brand or retailer.
“The Z-Wave logo not only means it works, it means it works with any other product with the Z-Wave logo. It has become the easy-to-understand moniker and trusted brand for today’s smart home,” said Raoul Wijgergangs, interim chairman of the Z-Wave Alliance and VP for Z-Wave business unit for Sigma Designs.
“By 2020, the IoT market opportunity will be two to four times greater than the combined installed base of computers, smart phones, tablets and smart TV’s we have today,” said Wijgergangs. “This is why you are seeing big players move into the space.”
At WWDC15, Apple announced that iOS 9 will support HomeKit, Apple’s framework for controlling connected accessories, and will be compatible with various home security systems. “Z-Wave already has the largest footprint in the security industry – every major player is an active member of the Z-Wave Alliance and developing on the Z-Wave standard,” said Z-Wave Alliance Board of Director member Avi Rosenthal. “We project that with HomeKit entering the market and Z-Wave as the largest available smart home ecosystem at retail today, consumers will naturally migrate to what is known, proven and popular, and Z-Wave will continue to dominate the smart home.”
Continuing to drive market innovation, the Z-Wave Alliance also created the Z-Wave Labs year-long IoT competition to accelerate exciting innovation on the Z-Wave platform. With the first winner announced on June 4, the program will continue to reward one selected individual/company each month through May 2016 with a 12-month membership to the Z-Wave Alliance as well as a Z-Wave Developer Kit.
“The first half of 2015 has been tremendous. Our vision for the smart home IoT all working together continues to amalgamate and we see Z-Wave as the unifying ingredient.” said Wijgergangs.