SmartLivingNEXT: Market study reveals opportunities and challenges for German companies

Key findings of the study

1. fragmentation & interoperability inhibit the market – The market is still in the development phase and is highly fragmented. Many smart living solutions are isolated solutions and therefore not compatible with each other. Networked, holistic systems are becoming increasingly important and are considered forward-looking. The message is: instead of individual Smart Living applications, the market is developing towards comprehensive ecosystems.

2. strong competition – market leaders such as Amazon and Google dominate key areas such as voice assistants and are increasingly pushing into platforms, making it difficult for European providers to establish themselves.

3. opportunities for German companies & the skilled trades: Demographic change, data protection and climate protection in particular are driving the demand for smart living solutions for social challenges. German companies must strategically position themselves in these areas with data protection-compliant, open and cross-application solutions. At the same time, new high-margin business models are opening up for trade businesses, provided they invest in digital skills and new technologies.

Conclusion: Those who rely on open standards, sustainable solutions and innovative business models can hold their own in this dynamic market. However, targeted investments and a stronger European positioning are required.

This is precisely where SmartLivingNEXT comes in: the SmartLivingNEXT Dataspace enables cross-application networking. SmartLivingNEXT also addresses the fragmentation of the market and the high competitive pressure from large providers by creating a data space that makes it easier for SMEs and start-ups to access the smart living market and promotes interoperable solutions. Companies can develop their own smart living services that work seamlessly with other applications. Practical tests within the use cases allow new technologies to be tested directly under real conditions in order to improve their market readiness.

You can find the entire study here.