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2017-09-07
Shipments of connected wearables will reach 262 million in 2021
Berg Insight, the world’s leading M2M/IoT market research provider, today released new findings about the connected wearables market. Shipments of connected wearables reached 96.5 million in 2016, up from 75.1 million devices in the previous year. Growing at a compound annual growth rate (CAGR) of 22.2 percent, total shipments of smartwatches, smart glasses, fitness & activity trackers, people monitoring & safety devices, smart clothing and medical devices as well as other wearable devices are forecasted to reach 262.5 million units in 2021. Bluetooth will remain the primary connectivity option in the coming years. A total of 26.8 million of the wearables sold in 2021 are forecasted to incorporate embedded cellular connectivity, mainly in the smartwatch and people monitoring & safety categories. Apple entered the connected wearables market in Q2-2015 and quickly became the leading smartwatch vendor. The competition have been responding with increasingly capable and attractive devices from Android Wear vendors including Motorola, LG, and Huawei as well as from vendors betting on other platforms such as Samsung. Smartwatch sales are expected to pick up considerably during 2017 and Berg Insight estimates that shipments will reach in the region of 35.0 million units, a 66 percent increase year-on-year. “Technology advancements, increased consumer awareness and wide availability of devices in different price segments will help the smartwatch category to reach mass market appeal and surpass activity trackers as the largest device category within wearable technology by 2019”, said Adam Palmborg, IoT Analyst, Berg Insight. Today, fitness and activity trackers is still the largest device category and shipments are expected to reach 74 million units in 2017. Market pioneers such as Fitbit and Garmin have in the past years been accompanied by an abundance of companies including major players from the smartphone industry. “Xiaomi has been particularly successful within the fitness and activity tracker segment, the company is continuously expanding its reach and sales have been largely driven by increased interest from the Asian market”, comments Mr. Palmborg. This product category is now facing fierce competition from smartwatches that in most cases include activity tracking features. Decreasing prices and new form factors will still enable dedicated fitness & activity trackers to reach shipments of 81.0 million units in 2021. Smart clothing is expected to gain significant traction within the next five years. Low consumer awareness, overlapping use cases and a focus on elite and professional applications have so far limited the adoption among the general public. Berg Insight forecasts that shipments of smart clothing will reach 18.3 million units in 2021, up from 1.56 million units in 2016. The segment exhibits the second highest CAGR in the wearables industry. Connected wearables such as cardiac rhythm management devices, ECG monitors, mobile Personal Emergency Response Systems (mPERS) and wearable computers are already common in the medical, people monitoring and enterprise segments. Furthermore, miniaturised electronics, low power wireless connectivity and cloud services have enabled the development of a wide range of novel connected wearables such as authentication and gestures wristbands, notification rings, smart motorcycle helmets and smart gloves. Shipments of smart glasses have so far been modest, but promising use cases in professional markets as well as in niche consumer segments will enable smart glasses to become a sizeable connected wearable device category in the next five years.

2017-09-01
Berg Insight adds analyst to its team
We welcome our new colleague Martin Svegander to Berg Insight. Martin will work as an M2M/IoT analyst specializing in the automotive sector in our Gothenburg office.

2017-07-21
The installed base of FM systems in the Americas will exceed 18 million units by 2021
According to a new report from the leading M2M/IoT market research provider Berg Insight, the number of active fleet management systems deployed in commercial vehicle fleets in North America was 6.7 million in Q4-2016. Growing at a compound annual growth rate (CAGR) of 15.0 percent, this number is expected to reach 13.5 million by 2021. In Latin America, the number of active fleet management systems is expected to increase from 2.5 million in Q4-2016, growing at a CAGR of 12.9 percent to reach 4.7 million in 2021. The top-25 providers of fleet management systems in the Americas together have today a combined installed base of more than 6 million active units in the region. Notably, all of the top-15 players each had more than 100,000 active units in the Americas at the end of 2016. More than 40 percent of the total number of units deployed in the region is represented by the five largest fleet management vendors alone. Verizon has as a result of an ambitious acquisition strategy captured the pole position in the fleet telematics space in terms of size. “The combination of Verizon’s Networkfleet, Telogis and Fleetmatics operations under the same ownership has clearly cemented the US-based carrier as the overall leader from a global perspective”, said Rickard Andersson, Senior Analyst, Berg Insight. In the Americas, Verizon is estimated to outnumber the closest competitors by a factor of three. The runners-up include Trimble, Geotab and Omnitracs which have all surpassed 500,000 active fleet management subscribers in the Americas as of the end of 2016. Zonar Systems is the fifth largest provider in the region, now majority-owned by Continental while Daimler Trucks North America has retained a minority stake. “The OEM telematics initiatives in the Americas have intensified in recent years and most vehicle manufacturers now offer factory-installed fleet telematics solutions either independently or through partnerships with established aftermarket fleet management solution providers”, said Mr. Andersson. He adds that large installed bases of OEM telematics systems are now found especially on the North American market where partner-powered systems are particularly commonplace. Telogis is for example working with vehicle manufacturers such as Ford, Hino, Volvo Trucks, Mack, GM, Isuzu and most recently Mitsubishi Fuso Truck of America. Notably, also manufacturers having developed OEM telematics systems in-house have in recent years started to collaborate with aftermarket partners, for example to offer tailored functionality for specific local markets. “Berg Insight anticipates that the partner strategy will continue to grow in popularity among the commercial vehicle manufacturers at the expense of in-house telematics development efforts”, concluded Mr. Andersson.

2017-07-17
Smart thermostats gain traction in Europe and North America
Berg Insight, the world’s leading M2M/IoT market research provider, today released new findings about the smart thermostat market. The number of North American and European homes with a smart thermostat grew by 67 percent to 10.1 million in 2016. The North American market recorded a 64 percent growth in the installed base of smart thermostats to 7.8 million. In Europe, the total number of homes with a smart thermostat grew by 77 percent year-on-year to reach 2.3 million. Berg Insight forecasts that the number of homes with smart thermostats in Europe and North America will grow at a CAGR of 50 percent during the next five years to reach 78.1 million in 2021. North America will remain the largest market at the end of the forecast period with 43.4 million homes that have smart thermostats, whereas the installed base in Europe is expected to reach 34.7 million homes. “Smart thermostats is a particularly attractive opportunity in the smart home market, as these systems are of great interest for consumers, energy companies and HVAC service providers” says Anders Frick, Senior Analyst, Berg Insight. Consumers embrace smart thermostats primarily due to the potential for energy savings, increased comfort and convenience. For energy companies, smart thermostats open up new possibilities to introduce consumer-friendly demand response and energy efficiency programmes. These programmes can enable significant capital savings as lower peak load can reduce expenditures on reserve power generation and the need to purchase energy on the spot market. “Adding intelligence to residential heating and cooling systems furthermore opens up new opportunities for HVAC service providers. Predictive maintenance and remote diagnostics can allow repair and maintenance activities to be streamlined and done more efficiently”, adds Mr. Frick. The North American smart thermostat market is led by Nest, Honeywell and Ecobee, joined by vendors such as Radio Thermostat Company of America and RCS that have gained traction especially in the whole-home system channel through partners such as ADT, Vivint and Alarm.com. Additional participants in the North American market include Emerson, Lennox, Trane and Venstar. In Europe, leading smart thermostat vendors include the European based eQ-3 and Centrica as well as the North American vendors Nest and Honeywell. eQ-3’s smartphone-controlled radiator thermostats have been installed in more than 0.35 million homes. At the end of 2016, the Centrica owned utility British Gas had 0.55 million smart thermostat users in the UK. Centrica also had around 0.40 million smart thermostat users in North America through its Direct Energy operations. Other contenders on the European smart thermostat market include Climote, Danfoss, Heatapp, Heat Genius, Netatmo, Ngenic, RWE and Tado.

2017-07-13
The number of smart homes in Europe and North America reached 30.3 million in 2016
According to a new research report from Berg Insight, the number smart homes in Europe and North America reached 30.3 million in 2016. North America is the world’s most advanced smart home market and the region had an installed base of 21.8 million smart homes at the end of the year, a 47 percent year-on-year growth. The strong market growth is expected to last for years to come, driving the number of smart homes in North America to 73.0 million by 2021, which corresponds to 55 percent of all households. The European market is still a few years behind North America in terms of penetration and market maturity. At the end of 2016, there were 8.5 million smart homes in Europe and the market is forecasted to grow at a compound annual growth rate (CAGR) of 57 percent in the next five years to reach 80.6 million smart homes by 2021, which corresponds to 36 percent of all European households. The most successful products on the smart home market include smart thermostats, security systems, smart light bulbs, network cameras and multi-room audio systems from vendors such as IKEA, Philips Lighting, Honeywell, Belkin, Nest, Ecobee, Somfy, Sonos, Canary, Netatmo and D-Link. Major vendors of comprehensive whole-home smart home systems include a mix of energy-, security- and communication service providers and home automation specialists such as Vivint, ADT, Comcast, Control4 and AT&T in North America and Verisure, eQ-3, RWE, Deutsche Telekom and Loxone in Europe. “2017 is anticipated to be a good year for smart home technology as entry-level smart home systems have become affordable for the mass market, at the same time as the reliability and features have improved significantly” says Anders Frick, Senior Analyst at Berg Insight. New innovative user interfaces are also important as a catalyst for market growth. “Several ICT industry giants are now betting on voice driven user interfaces to make it easier to control smart home solutions”, continues Mr. Frick. The Alexa service from Amazon has quickly become very popular through its Echo products and Google is pushing its digital assistant through Google Home. Furthermore, Apple with its HomeKit platform and the HomePod smart speaker as well as Microsoft with its Cortana service and the Invoke speaker are ready to challenge Amazon and Google when the devices are being launched later in 2017. Berg Insight anticipates that the popularity of voice enabled speakers will continue to increase and that smart speakers will be one of the most significant user interfaces in the home environment. “Amazon is still the leading player but Google’s and Apple’s ecosystems are stronger, at least outside North America” says Mr. Frick. There are additional smart speaker initiatives as well. Lenovo has announced a smart assistant and Japan-based LINE Corporation will launch WAVE using the virtual assistant Clova later in 2017. There are even open source alternatives, such as the assistant Mark 1 from Mycroft. Ivee Voice, Invoxia’s Triby, JAM Voice, Cubic, Fabriq and Zettaly Avy are additional smart speakers on the market.

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