The smart-home market is one of the fastest growing markets worldwide. It was valued at US$79.1-billion in 2020 and is expected to reach $313.9-billion by 2026 at a compound annual growth rate of 25.3%, according to Mordor Intelligence.
When it comes to implementing a smart-home business strategy, some of the biggest challenges for operators have to do with investing in the right go-to-market business model. Here are two pointers to help identify the right vendor partner and maximise the take-rate of your smart-home solution, putting you on a quicker path to growing revenues:
- Alleviate the upfront costs for consumers with ready-made product bundles and equipment leasing or subsidies. Be transparent with your pricing, distinguishing hardware pricing from service costs. Consider a tiered pricing scale with the largest discounts reserved for customers willing to accept longer contract terms or large-scale deployments. Affordable and flexible device financing options makes smart-home solutions more widely accessible.
- Adopt a flexible smart-home solution that supports a broad range of devices.
At Radisys, we understand the challenges service providers face when expanding their portfolios and bringing new services to market; we have the technology, the devices and the integration expertise to enable service provider success. The Radisys Reach Smart Home solution enables service providers to offer a simple solution to connect all smart appliances, sensors and controllers through the Radisys Reach Smart Home Gateway and customisable mobile application, allowing all devices to work together as an integrated solution while also managing costs and streamlining operations.
Our Reach Smart Home solution gives service providers and network operators a flexible platform that supports an open device ecosystem and multiple business models to create disruptive monetisation opportunities. Along with our Radisys consultative sales process and extensive support which helps operators develop go to market strategies, co-marketing and collateral, the Radisys solution is perfect for service providers looking to make a splash in emerging markets.
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