North America is the No. 1 Smart Home Market
Year after year, the demand for smart homes continues to surge. Not a day goes by where you don’t hear about Smart Homes on the news, see it in your social media feed, or hear about the new tech your friends and family are interested in.
In such a rapidly growing industry, it’s easy to lose track of where Smart Homes actually stand in their popularity. Luckily for us, a recent study from Berg Insight is here to show us their findings when they compared the European smart home market to that of North America’s.
The Result: North America is the world’s most advanced smart home market.
47% year-on-year growth for smart homes
By the end of 2016, there were about 21.8 million smart homes in North America, marking 47% year-on-year growth. The study is reporting that the strong market growth will continue into the foreseeable future. According to their estimates, there will be 73 million smart homes in North America by 2021, which would mean 55% of all households will be smart homes.
Most desired features: Climate Control, Security, Lighting, Multiroom Audio
Many companies have recognized the potential of this market and now offer products for climate control, security, lighting, and multiroom audio. These are currently the most successful products in the smart home market.
Piecemeal Gadgets vs. Whole-Home Smart Home Systems
Smart thermostats, led light bulbs.. there are a lot of gadgets that bring you intelligent smart home living on a smaller scale. On the other hand, we have whole-home smart home systems, which integrate and combine all functionalities needed in a home. This way the multiroom audio, lighting systems, climate control, and security are all working together on autopilot.
In the smart home market, there are companies that focus on the individual functions such as lighting or security. And then there are companies that encompass all smart home functionalities into one cohesive system, Loxone being one of those.
Is your business smart home ready?
As the leading smart home solution in Europe, Loxone has been experiencing this rapid growth in smart home demand first hand. Therefore we have expanded our partner network in the US in order to meet the needs of both the end consumer and those that are seeking to build their own smart home business.
America is the land of endless possibilities, so why not starting your own smart home business? We offer you a 360° smart home solution, 150+ products, free technical support and much more. Contact us today and grow your business!