Smart home technology has become increasingly popular in recent years, with 69% of American households now owning at least one smart device. This trend is expected to continue as smart technology becomes more widely available and younger generations enter the housing market. Together, Gen Z and Millenials are responsible for much of smart home adoption and they tend to prioritize entertainment technology. Generation Z is especially attuned to the cost effectiveness and safety provided by smart technology, with 94% of Gen Z-ers appreciating the convenience the technology provides. 

According to data, it may not be long before very few homes exist without smart technology. In 2021, 349 million smart devices were shipped and this number is projected to hit 1.77 billion in 2025. This has led investors and innovators to move into these thriving product markets. 

The most popular smart devices by adoption include audio video devices, wireless speakers, smart speakers, smart smoke detectors, and video doorbells.  86% of millennials would pay more for a connected home and 46% of homeowners want their current or future homes to have smart devices. This widespread adoption has made smart homes big business, with more than 175 million smart homes worldwide.

Smart Devices and Homes of the Future