The automated home market continues to be an area of high innovation, with manufacturers at low and premium price points seeking to provide new and improved updates for consumers with every iteration of existing automated home products. While COVID-19 has somewhat slowed the adoption of automated home appliances and systems globally, 2020 was nevertheless a strong year of development for the automated home market. Driven in part by improved artificial intelligence (AI), manufacturers have sought to upgrade the usability and performance of current systems in a seamless way.
Smart speakers continue to dominate the market in terms of appliances by category, owing to lower costs relative to other appliances with the benefit of voice activated control for a fraction of the price. Moreover, automated home speakers are continually seen as the apex, or the core of automated home systems, with the ability to connect to most, if not all, other automated home devices. Nevertheless, other devices are also starting to see more widespread adoption. Smart lighting saw strong growth in 2020, with manufacturers vastly improving new products compared to previous iterations, with innovations in emitting natural tones and the use of machine learning (ML) to adjust the light according to time and weather.
Smart security also saw widespread adoption in 2020, with smart doorbells one of the best performing categories, partly due to COVID-19 (allowing consumers to speak to those at the door without having to open it), and to new innovations allowing for easy installation, working wirelessly without having to charge for up to six months, particularly relevant for renters who are unable to make substantial modifications to properties. Whilst only representing a few examples of the wider automated home industry, these encapsulate the future trajectory of developments within the market.
The global automated home market is forecast to see revenue double between 2020-2025.
By 2025, North America is forecast to contribute around 75% of the automated home market value.
In 2020 smart security was a high growth segment, driven by increasing adoption of smart doorbells.
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