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INDIANAPOLIS — The smart home market continues to see strong growth, with 37% of connected homes nationwide now owning at least one smart home device and consumer purchase intent at an all-time high. That's what a new report from Indianapolis reveals. Housing Improvement Institute.
The global smart home market, which totaled about $58.5 billion in 2020, is expected to exceed $167 billion by 2025, and the global smart home market, which totaled about $58.5 billion in 2020, is expected to exceed $167 billion by 2025, Indianapolis-based HIRI said, citing external research. Designers, remodelers, home builders, and other specifiers say, “More homeowners, especially younger, more internet-savvy and connected generations, are looking for an integrated, holistic smart home experience. This creates an opportunity to increase your value proposition as you become more receptive to ideas.”
“Connected home devices were growing in popularity even before our society redefined online and offline interactions,” HIRI said. “Forced to spend more time at home away from in-person communities, the desire of tech-savvy consumers to create smart home environments for communal living during work and leisure time is driving into a new era of product introduction.”
According to HIRI, specifiers should highlight smart home features that help make homeowners' lives faster, easier, or more efficient.
“Consumers are increasingly turning to products that help them make their daily activities more manageable (and improve their quality of life) between work, childcare, social life, and maintaining personal health and hobbies. ” HIRI said.
In some product categories, smart home devices are also contributing to the resale value of homes,” the group said.
According to HIRI, smart home products commonly sought by homeowners include:
Voice Control: “Voice-controlled kitchen appliances are no longer just a concept,” says HIRI. “Technology and kitchen appliance brands are now releasing products with voice control capabilities to make the cooking experience more convenient for those who spend a lot of time in the kitchen.” Pre-programmed task accomplishment technology: “There are a lot of kitchen appliances out there” that help consumers easily prepare meals at home. Such appliances work with a set of pre-programmed settings, allowing users to plan meals in advance, set reminders, and quickly prepare a variety of recipes.
“Consumers, especially younger generations, rely on technology for many of their daily tasks. They value convenience, efficiency, and ease of use, all of which can be achieved through smart kitchen appliances that leverage the latest technology. ,” said HIRI. “Features like automation, remote (smartphone) control, and anything that makes life and work easier can all help meet the needs of this busy modern consumer.” AI companions and guides: The concept of voice control becomes popular As the technology becomes more popular, the user interface of AI home assistants will incorporate the product's signature child-friendly features to engage, entertain, and supervise children, alleviating some of the stress for parents. HIRI said. “Millennials, part of a digitally savvy generation, are most likely to incorporate technology into a formative role in their children's lives,” the institute said. “Integrating these features into the home allows parental aids to be ubiquitous and close by when needed, adding an extra layer of convenience and security.”
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