Smart Home Statistics
A larger and larger percentage of homes are qualifying as smart every day. In simple terms a smart home has devices that can be controlled by the owner remotely through a mobile app. Having a basic understanding of the industry and some statistics is a great way to start navigating all the options available.
SMART HOME MARKET STATISTIC
In 2017 there was an estimated 142 million smart homes in the world. The projection for the end of 2023 is that the number of smart homes in the world will be 353 million.
150% growth in five years is impressive. Some percentage of this growth is happening in almost every country in the world.
ADVANTAGES OF SMART HOMES
Saving time at 57% and saving money at 45% are the key drivers of people investing in smart home technology.
Routines created to control the scheduling of smart devices can save you time.
Lighting routines and energy-efficient features of smart thermostats can save you money.
RESALE IMPACT OF SMART HOMES
More than 50% of owners believe having a smart home will help it sell faster and more than 80% of millennials are ready to pay more for a smart home.
Smart devices add to a property value, especially if they are already installed.
Millennials are paying more, and the Gen Zers that follow will continue that tradition.