Smart Home Tech 2021 Update | MarketSource
Smart home revenue is expected to grow by nearly 13% annually between 2021 and 2025. Today, more than 69% of U.S. households have at least one smart device; by 2025, roughly 77 million households will likely be using smart technology. With so many new users expected to enter the market, meeting their needs is crucial to getting their business.
Smart home devices cover anything from a smart TV to a smart security system. Most users own smart entertainment devices, including smart speakers and smart TVs. Video doorbells were cited by the lowest number of users at 12%.
There is a demand in the United States for homes that are equipped for smart technology if they don’t already include these devices. About 81% of potential home buyers would be more interested in a house that included smart technology.
Customers are interested in smart home devices that they can control with their smartphones. Most consumers think that smart devices save them time, and devices like smart thermostats are beginning to catch on with older consumers.
Smart home consumers are most interested in technology that enhances their comfort and safety.