Home Automation Set to Grow at 45% Annually

We occasionally like to look at trends that we feel present business opportunities for clients, and home automation fits the bill. Leading market research firm ABI reports the global market for home automation systems exhibited strong growth in 2012 despite slow economic and housing market growth. The action also happens to be in North America, thanks to a wave of new entrants and offerings. 

Leading the way and coming to serve as a "bellwether for markets around the world," installations of home automation systems in the U.S. nearly doubled year-over-year (YoY). More than 8 million systems will be shipped worldwide in 2017, representing a compound annual growth rate (CAGR) of 45.2% from 2011, according to ABI's forecast.

In the past 12 months Verizon's introduced a home automation systems offering, while cable providers Comcast and Time Warner have expanded their market presence. Security vendors, including ADT and Vivint, "continued to see strong demand for their solutions," according to ABI's research.

"Home automation adoption is moving into the mainstream as a combination of home connectivity, standardization, and a range of new sensors and devices bring an ever expanding number of players into the market," says Jonathan Collins, principal analyst, ABI Research. "Meanwhile existing players are adapting their offerings and a host of technologies and connectivity options are battling to become de facto standards."

We've been following the digital home trend for some time now and encourage clients to study it as a revenue diversification strategy. Check out this interview with CHR Solutions Vice President Sam Harlan, as he discusses digital home opportunities.

Written by Kevin Kutcher at 12:00
Tags :

Categories :