INDIANAPOLIS — The smart-home market continues to exhibit robust growth, with 37% of the nation’s internet-connected homes currently having at least one smart-home device and consumer purchase intentions at an all-time high, according to a new report by the Home Improvement Research Institute.
Citing outside research, the Indianapolis-based HIRI estimated that the global smart-home market, which totaled $58.5 billion in 2020, is forecast to exceed $167 billion by 2025, with kitchen and bath designers, remodelers, home builders and other specifiers having “the opportunity to increase their value proposition, as more homeowners – particularly younger, more internet-savvy and connected generations – accept the idea of an integrated and holistic smart-home experience.”
“Even before our society redefined how it interacts on and offline, connected home devices were rising in popularity,” HIRI said. “Forced to spend more time at home and away from in-person communities, the desire of tech-savvy consumers to create a smart-home environment to cohabitate during working and leisure hours propelled smart devices into a new era of product adoption.”
According to HIRI, specifiers should emphasize the smart-home features that help make homeowners’ lives easier or more efficient.
“Between work, raising children, social lives, and/or maintaining personal health and hobbies, consumers are increasingly turning to products that help make their daily activities feel more manageable and improve their quality of life,” HIRI said.
Among the smart-home products currently being sought, according to HIRI, are:
- Voice Controls: “Voice-controlled kitchen appliances are no longer a concept,” HIRI observed. “Technology and kitchen appliance brands are now releasing products with voice-control capabilities in order to make the cooking experience more convenient for those who spend a lot of time in the kitchen.”
- Pre-programmed task-accomplishment technologies: Kitchen appliances that assist consumers in preparing meals quickly and from the comfort of their homes are growing in demand, HIRI said.
“Consumers, especially younger generations, value convenience, efficiency, and ease of use – all of which modern, tech enabled smart kitchen appliances provide,” HIRI said. “Features such as automation, remote-control, and anything that makes life and tasks easier all help to cater to the needs of the busy, modern-day consumer.” - AI Companions and Guides: As the concept of voice control becomes a common feature of products, child-friendly features will enter the user interface of AI home assistants that can engage, entertain and monitor children, thereby alleviating parental stress, HIRI said.