As MSPs Gear Up to Grow Revenue & Deepen Relationships with Customers in 2022, Smart Home as a Service Offerings Are In the Spotlight
Wednesday, February 16, 2022
Source | MSP Today
Last year, ResearchandMarkets forecasted the global market for connected home smart products will reach nearly $298 billion by 2026 and said, "many AIoT use cases are very retail product-oriented, but this is set to change as smart, connected homes integrate cognitive computing with IoT" while also noting that the opportunity for Managed Service Providers (MSPs) to drive new revenue while deepening customer loyalty is substantial.
The report evaluates the connected home market by Technology (AI, Data Analytics, and IoT), Computing Type (Core Cloud and Edge), Service Provider (MNO and OTT), Application Type (Entertainment, Security, Energy, and Smart Vehicle Integrated), User Interface (Smart Speakers and Phones), Connection Type, Communication Interface, Deployment Type, and Region, while also evaluating the DIY and managed service market including device installation and configuration, provisioning, access control, monitoring, and more.
While the definition of Smart Home itself varies, the services industry seems to be collectively focusing on creating personalized smart home ecosystem "bundles" – combining devices with the right functionality and comms protocols and delivering value in a way that is simplified for the subscriber. Setting up one's own Smart Home can seem simple at the start (for example, registering Alexa's voice-activated assistant to a WiFi connection) but as a greater variety of more powerful devices emerges, getting them set up and ongoing management is far too complicated for average consumers, which is driving massive interest by MSPs to roll out Smart Home as a Service (SHaaS) offerings.
Smart home technology is about the system, anchored by a hub that orchestrates the provisioning and management of the devices and services provided and can be securely managed by a third-party provider (MSPs, CSPs, DSPs, and so forth).
Cable companies and ISPs have already proven this model with routers and "set top boxes" in homes that serve as data consumption mechanisms and open the door to new value-added services.
Large utilities and security companies also have increasingly intelligent devices in homes and have been moving into SHaaS by expanding from smart meters and digital security locking and response systems to other services.
Even large retailers like Walmart, Target, Lowes, Costco, and many eCommerce companies are aiming to provide the entire service and system, from technology to installation (one-time purchases), to day to day maintenance (generating recurring revenue while also opening up big data and analytics offerings they can sell back to vendors who are part of their packages).
"By bundling services together into an SHaaS offering, a single MSP can overcome the challenge of fragmented vendors and models, can take advantage of emerging technologies rather than feeling threatened by them, and most importantly can give their subscribers a single, user-friendly app for self-management while also providing remote services should a problem arise," said Nic Hurtado, Vice President of IoT Strategy & Futurist, Veea Inc.
Veea announced they would be virtually rolling out their new SHaaS solution enabling Managed Service Providers (MSPs) to offer a full package of capabilities featuring a Smart Hub with Wi-Fi 6 mesh router technology and application server, IoT connectivity with included radios for Zigbee, Bluetooth, and Thread, support for the new industry interoperability standard Matter, 4G Gigabit LTE or 5G network connection, an intuitive control app with voice support, integration with leading smart home accessories, and robust platform security and built-in remote support.
This all-in-one offering is being offered to Managed Service Providers (MSPs) as a white label solution that can rapidly be brought to market and will soon be available to consumers directly. MSPs can now offer their customers who haven't yet taken that next step, and for those who simply want a much better experience or truly cut the cord, a comprehensive range of options to their customers to choose from for networking, management, and automation of Smart Spaces along with their data services. MSPs can deliver all this functionality with Zero-Touch Installation (ZTI), truly as a "Drop & Play," for an individual unit or in bulk for thousands of units shipped to their customers in mixed network environments.
"We see STAX being the standard-bearer for Smart Hubs of the future as a new product category in the broader mass market," said Allen Salmasi, chairman and CEO of Veea. "With its unique design, breadth of capabilities, and price-performance, and when combined with our Smart Home As A Service offering, this first-of-a-kind bundle delivers on the promise of a turnkey smart home experience for consumers while providing Managed Service Providers a highly sought-after value-added service that will boost subscriber loyalty and retention."