North America is leading the smart home market with an installed base of 12.7 million smart homes. Combined with Europe, these two demographics reached a total of 17.9 million smart homes in 2015.
These two markets’ 2015 statistics suggest a strong uprising that will continue through the end of 2016, with a 56 percent year-on-year growth. At this pace, the number of smart homes in North America alone should reach 46.2 million by 2020. This is 35 percent of all households.
“There is no doubt that regular consumers in the future will own and operate a wide range of connected objects in their homes, from connected home appliances and luminaires to thermostats and security devices,” says Johan Svanberg, senior analyst at Berg Insight, which conducted the research.
The most successful products in the smart home market include smart thermostats, security systems, smart lighting, network cameras and multi-room audio systems. There is also a significant rise in voice controlled operation of devices.
The European market is two to three years behind North America in terms of penetration and market maturity, expected to reach about 44.9 million smart homes by 2020.
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