Hospitality and coworking offer new but distinct opportunities for smart home players
NEW YORK, Jan. 24, 2023 /PRNewswire/ — Changing consumer expectations, operational efficiencies, and a travel market in flux are increasingly unifying smart home players and commercial building technology suppliers as they look to support new experiences and working environments. According to a new report from global technology intelligence firm ABI Research, the smart home and connected equipment market across the smart hospitality and coworking space will see connected shipments rise from 6.8 million devices shipped this year to 19.7 million in 2027, a CAGR of 23.5%.
Examining three market segments – Smart Hotel Rooms, Short-Term Rentals (STR), and Coworking Spaces – embedded connectivity, combined with networked management, enables new opportunities for service and hospitality providers in each segment. “Service flexibility, cost savings, and meeting changing customer expectations is driving investment in connected technology,” says Jonathan Collins, Smart Home and Buildings Research Director at ABI Research. “Some dedicated offerings address just one segment of the market. But now, offerings are increasingly being adopted that address the broader smart homes and smart building markets.
The opportunity is driving investment from established commercial building players including Honeywell, Schneider Electric and Siemens in the smart hotel room space as well as smaller, dedicated players such as Minut in the STR market. Meanwhile, broader smart home players, from Amazon and Google to Alarm.com and Assay Abloy all have offerings supporting deployment across the three markets.
Smart-enabled capabilities such as smart locks for access control, smart thermostats for energy management, sensors to support maintenance demands, and even voice control all have significant potential. “But smart home device and service providers will have to understand and meet the shared and distinct opportunities across these market segments,” Collins points out.
While the smart hotel rooms market will see significant adoption and growth over the forecast period, the short-term rental opportunity offers the most significant potential, especially to existing smart home players. By 2027, STR will command more than 11 million smart device shipments, up 22% on 2022 levels. While the coworking space outpaces the other sectors, with shipment growth at 33.8% CAGR over the forecast period, it is an opportunity of a significant but different scale. “As a market built upon smart device support from the outset, penetration is already high,” Collins explains. “Growth will flow from total market growth without the benefits of the retrofit potential offered in the Smart Hotel Room space and the greater need and simplicity of STR deployment,” Collins explains.
These findings are from ABI Research’s Smart Hospitality and Coworking Spaces application analysis report. This report is part of the company’s Smart Homes and Buildings research service, which includes research, data, and analyst insights. Based on extensive primary interviews, Application Analysis reports present in-depth analysis on key market trends and factors for a specific technology.
About ABI Research
ABI Research is a global technology intelligence firm delivering actionable research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the transformative technologies that are dramatically reshaping industries, economies, and workforces today.
For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
SOURCE ABI Research
Abbott Laboratories is expected to report earnings on Wednesday before the market opens. Let's check the condition of the charts and indicators before shareholders get the company report card. In this daily bar chart of ABT, below, I can see that prices have rallied from late October.
As Boeing battles disruption in its supply chains, investors will be looking for the largest U.S. planemaker to satisfy questions about its planned ramp-up for commercial jets and set aside concerns over losses in major defense projects when it reports earnings Wednesday. Boeing has seen 737 MAX customer demand recover briskly after two crashes and the COVID-19 pandemic battered the airline industry. Chief Executive Dave Calhoun said in October Boeing has “mitigated these existential moments.”
Life sciences company Danaher Corp posted a fourth quarter earnings beat Tuesday morning but the stock is under selling pressure. The daily On-Balance-Volume (OBV) line has moved sideways since June. Prices are moving sideways but have managed to climb above the 40-week moving average line.
The electric-vehicle leader reports its fourth-quarter earnings on Jan. 25. Analysts and holders are on tenterhooks.
Traeger (COOK), The Honest Company (HNST), Genius Brands (GNUS) and The RealReal (REAL) have been focusing on superior product strategy and prudent capital investments.
A good day for semiconductors included positive analyst notes and potential consolidation in the NAND industry.
Halliburton reported their latest earnings figures this Tuesday morning. The Moving Average Convergence Divergence (MACD) oscillator has made a lower high when compared to November and this creates a bearish divergence when compared to the price action where prices made a higher high. The weekly OBV line has moved up into January but it did not make a new high to confirm the price high – a bearish divergence.
Joseph Foudy, an economics professor at New York University’s Stern School of Business, warns Twitter has been a distraction for Elon Musk, and rising EV competition could hurt Tesla's sales growth.
Oil futures finished lower on Tuesday, pulling back from recent gains that lifted prices to their highest level in two months, with weakness in the U.S. economy prompting traders to rethink their energy demand expectations. Prices for oil have seen support since the start of the year on continued optimism over the demand outlook from China after the country dropped COVID restrictions. Natural-gas futures, meanwhile, settled lower after posting a gain of more than 6% a day earlier on forecasts for colder U.S. weather.
Shares of Ford Motor Co. (F) slipped 0.6% in premarket trading, after rallying 5.1% over the past two sessions, after The Wall Street Journal reported the automaker was in talks to sell a manufacturing plant in Germany, while Bloomberg reported the company was planning to cut 3,200 jobs in Europe. The WSJ report said Ford was in talks with China-based electric vehicle maker BYD Co. (BYDDY) (HK:1211) over the sale of the plant in Saarlouis, Germany, where Ford produces Focus model vehicles and production is scheduled to end in 2025.
Aris Mining Corporation ("Aris Mining" or the "Company") (TSX: ARIS) reports 2022 gold production of 235,379 ounces (oz) from its two operations in Colombia, the Segovia Operations and the Marmato Upper Mine. The Q4 2022 results provided in this news release are approximate figures and may differ from the final results included in the 2022 annual audited statements and MD&A, which the Company expects to release in mid-March 2023.
The FPSO departure is a milestone for the GTA project, which is the epitome of BP's strong hydrocarbon strategy.
4th-quarter earnings failed to impress, but the bank still has its fans
In the latest trading session, Pioneer Natural Resources (PXD) closed at $241.45, marking a +0.86% move from the previous day.
Despite the bearish sentiment associated with the Zacks Oil and Gas – Exploration and Production – Canadian industry, we advice focusing on fundamentally sound companies like CNQ, OVV and BTEGF.
Last year was very good for investors in the energy sector. While the broader markets were in turmoil, energy stocks delivered huge gains, with some doubling in value. What's more, plentiful free cash flow led many companies to pay hefty dividends — meaning energy investors reaped ample income too.
Despite bearing the brunt of lingering supply chain constraints, industry players like IBM, HPE, AGYS and PAR are gaining from increased demand for integrated solutions and the growing adoption of the multi-cloud model.
Tesla CEO Elon Musk refuted that the $420-per-share price in a 2018 tweet about him potentially taking Tesla private was a joke during Monday testimony.
(Reuters) -U.S. oilfield services firm Halliburton Co on Tuesday topped Wall Street profit estimates for its fourth quarter and said its shale oil-well fracking equipment remains fully booked with oil prices driving increased drilling. The largest provider of hydraulic fracking services used to complete shale oil and gas wells maxed out on its North American fracking equipment and crews.
Orford Mining Corporation ("Orford") (TSXV: ORM) is pleased to report the mobilization of a diamond drill to the Joutel Eagle Gold Property to begin a 2,000 metre drill program focused around the South Gold Zone. The 2023 program will test 400 metres of strike along the South Gold Zone (Figure 1 & 2). Historical drilling results, confirmed by Orford's 2022 drill program, with grades of up to 14.7 g/t gold over 0.64 metres reported within a larger mineralized interval grading 1.11 g/t over 20.64
Hospitality and coworking offer new but distinct opportunities for smart home players