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60+ Smart Home Stats and Facts That Will Surprise You

The release date:2020/10/12 0:00:00



Do you ever have the sneaking suspicion that you've left an appliance on at home, and that your house is now a towering inferno even if you left home just a couple of minutes ago?


Do you double-check if you’ve turned off all the lights and worry at the idea of the electrical bills you’ll have to pay at the end of the month?


With smart homes, these worries will be a thing of the past. Smart home statistics show that an increasing number of people are enjoying the benefits of home automation devices. And why shouldn’t they? Imagine having a home where you can control everything with your voice and from your smartphone wherever you are. Now wouldn’t that be bliss!


That being said, smart homes are becoming increasingly more popular, but there’s still a lot of potential for growth. Check out all the smart home stats and facts to confirm that home automation is the right choice for you.



Number of smart homes

1.There are an estimated 175 million smart homes in the world;

2.56% of US adults say they feel comfortable with smart home technology;

3.It costs between $970 and $3,310 to turn a home into a smart home;

4.One-quarter of Americans own smart home technology;

5.Consumers are very optimistic about the future of smart home technologies, with 61% of Americans believing that smart homes will be just as common as smartphones in about ten years;

6.The most common smart home devices include appliances, camera systems, thermostats, security systems, and lighting;

7.By 2025 over 37% of the new homes will include at least 1 smart device;

8.By 2023, the internet infrastructure will support over 3.5 billion active IoT connections;


Smart home industry

9.Current statistics show that the smart house market will approach 40 billion USD in the US alone by 2020;

10.By 2025 the worldwide smart home market will reach $174.24 billion;

11.In 2013 the smart home automation market was valued at 4.4 billion dollars and was estimated to be valued at 21 billion dollars in 2020;

12.The US is the largest consumer of smart home technology with a market volume of $23.5 billion in 2019 (followed by China with $12.9 billion and Japan with $4.19 billion);

13.Other countries where smart home-related revenue is most prevalent are China, the UK, Germany, and Japan;

14.Household penetration of smart homes is 33.2% in 2019 and is expected to hit 53.9% by 2023;

15.In 2020 the IoT (Internet of Things) will generate revenue exceeding $300 billion;

16.By 2027, the IoT market will yield over $520 billion in market revenue;

17.Voice assistants seem to be one of the most popular advancements of the smart home business, granted that 555 million VA devices will reach homes by 2024;

18.Overall, the smart home market is expected to grow from $76.6 billion in 2018 to $151.4 billion by 2024, at a CAGR of 12%;

19.In the US, over 32% of the homes own at least 1 smart device. The US is followed by Norway, Estonia, Denmark, and Sweden;

20.Approximately 90 million smart home and IoT units have been shipped worldwide until 2018;


Benefits of home automation

21.57% of respondents say that smart devices save time;

22.In particular, 57% of Americans say that having smart products in their house saves them about 30 minutes per day, that’s 182.5 hours a year, or roughly a week and a half;

23.Smart heating and cooling systems can save smart home users 50% in energy use;

24.Installing a smart home system in your home will value the house by at least $50.000;

25.33% of real estate agents say that smart homes are selling faster compared to traditional houses;

26.40% of burglars get discouraged when they see the presence of a security camera;

27.Over 400 people die every year from carbon monoxide poisoning, making the CO detector a worthwhile asset in your smart home;

28.The average monthly savings from using smart home products is $98.30, which adds up to an average of $1,179.60 per year;

29.81% of smart home users said they would be more apt to purchase a home that had connected technology;

30.Smart security systems cut down home insurance rates;


Smart home owners’ profile

31.86% of millennials would pay more for a connected home;

32.More men own smart home systems than women. Over 57.7% of smart homeowners are male, and only 42.3% are female;

33.The percentage of people with smart products in their house is growing substantially, with 47% of millennials already owning some devices;

34.70% of millennials who already own a smart device are planning to buy another one;

35.Some people (37%) who don’t already have such products in their house do not think of themselves as early adopters to the technology;

36.43% of smart home technology users are 18-34 years old;

37.44% of smart home tech adopters are parents with children younger than 18 years of age;

38.Here is a chart explaining the impact of income over the interest in smart home devices:



Homeowners’ habits in terms of home automation

39.By 2022 a typical family could own more than 500 smart devices;

40.63% want smart locks and alarms, 63 % want smart thermostats and fans, 58% want smart lighting, and 56% want carbon monoxide detectors and nightlights;

41.Most smart home users will also buy cameras and video doorbells, carbon monoxide and fire alarms, and smart lighting. The market for these products is growing as more people switch to having smart technology in their homes;

42.Many buyers (⅗) of smart home products like the ability to monitor their house via their smartphone;

43.76% of home products are already being controlled or monitored by smartphones;

44.Home security systems will account for over $47 billion this year out of the $100 billion total security market;

45.Amazon Echo is one of the most popular smart home devices with over 100 million units sold worldwide;

46.Amazon’s Alexa dominates the smart home technology industry accounting for 47% of the total market;

47.There are over 1 billion smart bulbs already connected to the internet;

48.Even though the demand for such products is growing, many homebuyers do not expect smart technology to be in place in old homes (new construction, yes);

49.Over half of current homeowners (54%) plan to buy such products to increase their house's resale value. However, not everyone is willing to pay extra for smart products, but are fine if they’re already in place;

50.41% of consumers say security is one of the top reasons to purchase a smart home system;

51.33 million North American houses rely on smart thermostats for temperature control;

52.Lighting control is the most frequently used smart home feature with 70%;

53.Many consumers would buy smart home devices if they were more affordable;

54.57% of Americans use voice control for entertainment, with 33% using smart digital assistants for lighting and for shopping online;


Fun facts about smart home

55.By 2020, more than 152 million cars will connect to the internet compared to 23 million in 2014;

56.Mark Zuckerberg (founder of Facebook) created his own smart home assistant called J.A.R.V.I.S, an AI solution using the voice of Morgan Freeman;

57.One smart home in Colorado has a $6 million smart security system installed on it;

58.By 2021, smart home devices will surpass smartphones as a share of deployed connected/IoT devices;

59.127 new IoT devices are connected to the internet every second;

60.An approximate 100 million light bulbs will connect to the internet by 2020, which is up from 2.4 million in 2013;


Sum it Up

Many are the reasons why smart homes are proliferating at such a fast rate. They make our lives more comfortable, convenient, and safe - and let’s be honest, they look pretty cool too!


Owning a smart home has already a whole lot of advantages to offer, but the best part is that technology still has an endless potential to be exploited in the years to come. The sky’s the limit for connected homes.


If you are ready to make your home smarter, contact us to find the closest HDL Automation dealer in your country!


Let us know what you’ll like to read next and we’ll keep on publishing valuable content on this blog. Share this article to other smart home lovers to get hyped up together about what the future of home automation has to offer us all!


In case you’re wondering, here are the sources we used:

Allied Market Research

Android Central

Avast

Business Insider

CITyFiED

Datafloq

Digital Trends

Forbes

HIVE

HomeTechHacker

Investopedia

iPropertyManagement

Livewire

Marketing Charts

Medium

Mordor Intelligence

Real Estate Express

S&P Global

Security Sales & Integration

Security Sales & Integration

Security Sales & Integration

Statista

Statista

Statista

Statista

Statista

Statista

Statista

The Ambient

Time

TiO Home

VentureBeat

World Economic Forum

ZDNet




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