The Growing Prominence of Smart Devices
Smart devices are becoming increasingly popular for the modern household through offerings of convenience and luxury for its occupants. Household ownership of a smart device stands at 69% in America, and this number is expected to grow as higher numbers of Millenials and Gen Z become homeowners. Smart devices have many offerings for homeowners, including increased security and more cost effective appliances. For example, smart thermostats can cut HVAC costs by 10% each year.
There is a wide variety of smart home devices within the United States market. Some of the most popular categories of devices include entertainment (45%), security (33%), and usage monitors (21%). The best-selling products include audio video devices, wireless speakers (no voice assist), smart speakers (with voice assist), and smart smoke detectors.
As smart home technology develops, it will become faster, better, and more streamlined. It is predicted that there will be a development in touchless technology, high speed connections, and greater privacy protections. 51% of smart home buyers believe that prices are too high, but as the technology becomes more readily available, it will become affordable for the average consumer. Smart devices are the way of the future, and soon almost all households will adopt this amazing technology.