Frost & Sullivan identifies three key strategic imperatives that impact the building services and technologies industry: disruptive technologies, new business models, and transformative mega trends. Every company that is competing in the building services and technologies space is obligated to address these imperatives proactively; failing to do so will almost certainly lead to stagnation or decline. Successful companies overcome the challenges posed by these imperatives and leverage them to drive innovation and growth. Frost & Sullivan’s recognition of Cognitive System Corp. is a reflection of how well it is performing against the backdrop of these imperatives.
The dynamic smart homes market continues on its robust growth trajectory, recovering from the COVID19 related slowdown in 2021 with the home safety & security and health & wellness market segments, partially offsetting the dearth in demand for smart homes solutions. Frost & Sullivan’s research estimates the global smart homes market to reach $263 billion in 2025, growing at a compound annual growth rate of 7.5% between 2018 and 2025.1 The rising acceptance of new products coupled with the consumer demand for improved energy/cost savings and enhanced safety and personal comfort drive the overall market growth. Moreover, the global smart homes market is witnessing the growing adoption of connected devices along with the increasing prevalence of wireless technologies. Globally, the number of connected devices is likely to exceed 792 million units by 2025.2 Wireless Fidelity (WiFi) sensing, the emerging application utilizing this ubiquity of WiFi and connected devices for motion sensing, opens up new avenues for disrupting the smart homes market.
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