A Statista report predicts that the revenue of the smart home technology market will reach US$24.8-billion this year and will continue to expand at a 12.82% annually, reaching around $47-billion by 2025.
Smart home services are an attractive revenue growth area for service providers looking to increase their competitive position over the long term. For service providers, this means adding a smart home solution to their portfolio will be essential for retaining customers and keeping up with the competition.
Radisys, a global leader of open telecommunications solutions, identifies three aspects of a smart home solution to explore before deciding to integrate one. The solution compatibility, ease of integration and flexibility, as well as the expertise of the solution partner are important factors to consider when choosing the right smart home solution.
Radisys offers a complete smart home solution addressing each area to help telcos develop an attractive product offering that will afford operators to grow revenues, quickly go-to-market and improve return on investment.
Finding a solution compatible with your existing OSS infrastructure will ease the integration process and shorten the go-to-market cycle, expediting your time to revenue realisation and achieving a faster return on investment.
The Smart Home solution from Radisys is designed for telco requirements with low entry barriers and flexible business models to bolster operators’ go-to-market strategies. The open solution supports multiple vendor devices on a single platform and seamlessly integrates with existing operator OSS/BSS.
A flexible solution adapts to support multiple use cases beyond the traditional roles. The inherent flexibility of the Smart Home solution from Radisys provides operators disruptive monetisation opportunities. For example, the modular open device ecosystem from Radisys enables many use cases and supports flexible business model options.
Choosing your partner wisely
The most important aspect when it comes to choosing a smart home solution is the company behind it and the type of support they offer. Service providers have a much better chance of growing revenues and improving return on investment with a company that offers ongoing support throughout the integration and go-to-market process.
Radisys offers use case and integration support, as well as sales and support team training along with our Smart Home solution. The consultative sales process and extensive support helps operators develop go-to-market strategies in addition to co-marketing and collateral for a more successful go-to-market partnership.
For service providers today, finding the right smart home solution to integrate into their portfolio doesn’t come without its due diligence, but with the smart home market rapidly expanding, finding the right solution is crucial moving forward.
There are over 175 million smart homes already in the world today, with that number predicted to rise as the technology increasingly becomes mainstream. The market is currently untapped and rife with potential for service providers, who just need an adaptable smart home solution from a reliable partner to enhance their portfolio and help grow their revenue.
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