Market Insight

Honeywell Draws Strengths from Apple HomeKit in Smart Home Market Push

July 24, 2014  | Subscribers Only

Chee Seng Tan Chee Seng Tan Analyst, Semiconductor Value Chain

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Honeywell's position as the market leader in residential and commercial control sensing and security technologies is constantly being challenged by aspiring smart home OEMs like Nest Labs, Ecobee, SmartThings and Revolv. These pioneers have secured a significant share of the novel smart home market by offering beautifully designed home control devices with simple interface and innovative connectivity solutions at affordable price points. Honeywell recognizes these threats and is wary about the potential market impact if the smart home trend becomes mainstream in the next two years.

IHS Technology found that in 2015 the global industrial semiconductor spending will expand at a rate of 8.5% to $28 billion, becoming the second highest growth semiconductor spend market while trailing the automotive market by a mere 0.3% and leading the wireless communications market by 1.7%.

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Organization
Apple Inc. Honeywell
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