Smart home growth and awareness has reached new heights, with a new report predicting that half of U.S. broadband households will be smart homes by 2020.
According to Park Associates’ new report, the smart home market will continue its rapid growth into 2020, when more Americans than ever rely on at least one aspect of smart home tech. The report also highlighted expected growth in the global smart home market in 2016, when broadband adoption is expected to reach 84 percent of U.S. households and 79 percent of Western European households.
Smart home awareness is a key component of this report. Notably, the entrance of big names like Apple, Insteon and Amazon to the smart home market will prompt significant future growth and attract more homebuyers to the market.
As the market continues to grow, builders have the opportunity to get ahead of the curve. Including a base level of smart home tech can help you reach the 44 percent of households that plan to purchase a smart device by the end of this year.
This new report should be a rallying call for builders skeptical over the smart home’s role in the residential market, because it shows that smart devices are expected to reach the mainstream market within four years.
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