With the introduction of smart technologies and devices, our homes have become efficient, convenient, and straightforward. These devices enhance the interconnection between various devices, making life easier and more entertaining. But how popular are smart home devices in 2023? This blog will give an overview of smart home statistics.

The Expanding Smart Home Market

The global smart home market has seen extraordinary growth and is projected to continue growing in upcoming years. Statista states that the market size is expected to reach more than 158 billion USD by the end of 2023. This can be attributed to increased consumer demand for energy efficiency, security, and automation. Smart home technology is more popular than ever before, and its demand will grow more in the coming years.

Smart Home Devices Adoption

Smart home devices and systems are becoming increasingly common in households globally. According to the IHS Markit, The number of smart home devices installed worldwide is estimated to reach approximately 1.4 billion by the end of 2023. These smart devices include many categories, such as smart speakers, smart thermostats, smart TVs, and other smart electrical and electronic appliances.

Smart Thermostats Market Growth

A smart thermostat is an intelligent device that sets the temperature in your home with the help of wifi and smart technologies. Smart thermostats have gained popularity globally due to their energy-saving capabilities. These devices allow you to remotely control your home and office heating, ventilation, and air conditioning (HVAC) systems. 

According to a report by Grand View Research, the smart thermostat market is expected to reach approximately 8.78 billion USD by 2027 globally. Therefore, massive growth is expected of this smart home device in the coming years.

Smart Speakers Market Growth

Smart speakers are a convenient and fun addition to your smart home system. They are controlled by voice assistants like Google Assistant or Amazon Alexa, and you can control the entire home sound system with just your voice. A study by Canalys says that 2021 worldwide shipments of smart speakers reached approximately 198.6 million units. 

Moreover, these smart speakers offer a seamless way to control other smart devices, answer questions, play music, and even make voice-activated purchases, thus making your life easier and more fun. The demand for smart speakers is increasing daily for commercial and residential purposes.

Smart TVs Market Growth

Smart TVs have entirely changed the conventional viewing experience by integrating internet connectivity and other smart interactive features. With access to streaming services and content worldwide, smart televisions are in high demand. According to a study conducted by Statista, the global smart TV market will reach 313 million units shipped by 2024. 

Therefore just like many other smart devices, smart televisions have a rapidly increasing demand. These devices are a valuable addition to your home, providing seamless entertainment and convenience.

Statistics on Energy Efficiency

Smart home technology gives positive outcomes when it comes to optimizing energy consumption. Smart thermostats enable you to create personalized heating and cooling schedules according to your timetable and preference. It reduces energy waste and lowers utility bills, ultimately saving you money. A study by the Fraunhofer Institute found that homes with smart thermostats achieved an average energy savings of approximately 26%. Smart thermostats also save energy in offices and other corporate buildings, which helps businesses save money.

Rise of Smart Appliances 

Smart appliances are gaining popularity worldwide thanks to their enhanced efficiency and convenience. Smart lights, ovens, refrigerators, washing machines, and other home appliances can be remotely controlled. This technology leads to improved resource management, helping you lower your bills and giving you peace of mind. According to a report by Grand View Research, The global smart devices market is projected to reach approximately 92.72 billion USD by 2025. 

Smart appliances are newer to the industry than products like smart TVs, but their growth is significant and expected to continue growing. Smart devices and appliances are an excellent investment for your home and offices; they’re eco-friendly and can help you meet your budget because they limit energy expenditure. They provide you with comfort, convenience, and deeper knowledge about how to cut energy waste in your home or office.

Smart Home Statistics & Systems Integration

Smart home devices are interconnected and integrated through smart home systems. These systems control and automate various smart devices, offering centralized management through voice commands and smartphone apps, which are easily available. 

This smart Integration gives you a smart ecosystem where devices work together to enhance security, comfort, and energy efficiency. They save you time and money, which you can use on other important things. Smart systems are effective on their own, but a fully integrated smart technology home is more efficient and fun than you could imagine.

The Rise of Smart Lighting 

The smart home industry is experiencing significant growth in consumer spending as users recognize the value of integrating smart devices into their offices and homes. One area of considerable growth is smart lighting, where consumers appreciate the ability to control their lighting settings through smartphone apps or voice commands. With smart lighting, you can adjust and control the colors and brightness and schedule lighting based on your needs. 

You can also set light according to your daily routines, creating ambiance and energy-efficient smart home environments. This increased demand for smart lighting is proof of the expansion of the smart home industry and its impact on transforming conventional homes into technologically advanced and smart living spaces.

Smart Security & Safety

Smart devices improve the security and safety of your family, your property, and your belongings. Popular smart home safety devices include security cameras, floodlights, security systems, and many more. These smart security systems are connected by one home security monitoring center that provides an extra level of security to your home. 

The smart alarms and sensors further enhance security, thus keeping you and your loved ones safe. Smart security systems also include door locks and motion sensors, providing real-time monitoring and control over your property. According to a report by Business Insider, the number of connected security cameras installed globally is expected to exceed approximately 1 billion by the end of 2023. Smart security systems are preferred by most homeowners and business owners thanks to the added control and peace of mind they offer. 

With such enhanced, 24/7 smart security systems, you can travel without worry and monitor your home from anywhere worldwide. In case of any emergency or breach, connected smart devices will inform the central security system, where professional security providers will handle the situation for you. This unmatched protection makes smart security systems a more popular choice every day. 

Interconnected Living For Convenience & Efficiency

Smart home technology continues transforming and revolutionizing our lives by transforming our homes into interconnected, integrated, and intelligent living spaces. The international smart home market is experiencing rapid growth, driven by the increasing adoption of smart devices such as speakers, security systems, thermostats, TVs, lighting systems, and other appliances. 

As technology advances, we can expect further innovations that will enhance our lives, give us added convenience, and improve energy efficiency. Smart homes make everything fun and easy, saving significant time and energy.

Transform Your Home With PrairieTech Security 

Visit our PrairieTech Security & AV website if you want to install any smart system in your home. We have a range of smart technology services for you, such as smart integration solutions for residential and commercial properties, Marine & RV electronics, security systems, and custom motorized blinds. We also offer services that include Home Automation, Home Security and Commercial A/V System Installation. Our team has years of experience installing smart home solutions. Contact us today if you want to transform your home into a smart home.