• Omdia projects water leak sensors and shutoff valves to be one of the fastest growing devices for the smart home, with a 2020– 25 CAGR of 54% in the Americas. As brands such as LeakBot enter the US market and others, such as Moen, begin offering supplemental services, we expect water leak sensors to have a big impact on insurance claims and losses. In addition to single-family homes, Omdia expects that home builders could start to include smart/connected water sensors on the main water line in the home. This will allow the device to shut off water if a leak is detected and to measure water usage. Although shutoff valves that require a plumber to cut piping would be a big change for many consumers, there are several retrofit products that do not require the main water line to be dismantled. Moreover, the current bellwether for these devices are sensors that are placed in areas of the home susceptible to water damage, such as sinks, toilets, and washing machine. However, larger homes require many sensors while a main line device could cover an entire home.
– The whole-home water shutoff valves, such as the Flo by Moen, typically require a plumber and can cost close to $1,000, so they are big change/big benefit.
• Air quality monitors are on the rise. These devices require no installation and only need up to one week to calibrate. Once calibrated, these devices can warn homeowners of pollutants including radon, CO2, and VOCs, among others. This device straddles the upper two quadrants because mitigation of air pollution can be a big change. This could require professional assistance, opening windows more often, or adding fans/air purifiers throughout the home.
• Smart irrigation panels, such as Rachio, straddle the upper two quadrants. In most cases, these panels are simple to install and do not require a professional. However, these panels can be expensive depending on the number of zones needed, and some yards may require adjustments to the automated settings, which could be a big change for some consumers.
• Smart outdoor faucets, such as the Eve Aqua, are meant for consumers who want to manage irrigation but do not have an in-ground irrigation system. With devices like the Eve Aqua, users can set timers for hoses, reducing water waste, but this is often region specific where in-ground irrigation is not common.
• Smart water faucets that are meant to replace kitchen taps cross the bottom two quadrants because the products are expensive for the perceived return. Unlike smart irrigation systems, these indoor faucets are not likely to save any measurable amount of water and are purely convenience products.
