Improved Compatibility of Energy Management Devices

Energy management solutions are an important segment of the smart home market. Smart thermostats, intelligent plugs and sensors offer enormous potential both in terms of energy savings and user comfort. According to Statista’s Digital Market Outlook, more than 900,000 homes in the United States are equipped with smart energy management tools.

In the past, one of the main inhibitors of broader adoption has been the lack of compatibility with smart home hubs and gateways. According to Statista’s analysts, energy management devices will only break through to the mainstream if they work with the most popular smart home hubs.

As our chart illustrates, the industry appears to have come to the same conclusion. A year ago, almost 4 in 10 of the sampled devices weren’t compatible with any third-party hubs. This year, the percentage of devices compatible with other smart home systems has risen significantly, while at the same time prices have remained rather stable.

To find out more about smart energy management, global market trends and key figures, download our free trend report: Smart Home – Energy Management [PDF].