The Future of Consumer Smart Home Tech Buying in 2022 and Beyond

Buzz 1: Smart home is a massive market, growing at 25.3% per year [Mordor Intelligence], expected to hit $314Bn a year by 2026.… Apple’s Home app, Google’s Nest, Google’s Home app, Airthinx for air quality monitors, myQ for smart garage doors, Asmart bed app, Dyson app, Wemo app, Nanoleaf, Govee Home app. [forbes.com] Buzz 2: Safewise surveyed 1,000 Americans 18 and older about tech spending habits. Between May 2021–May 2022, three in four bought a smart home device. 65% purchased cameras or locks, comprising 28% of all smart home tech purchases. Despite inflation, 70+% of home tech spending increased or stayed the same as previous years. [safewise.com] Buzz 3: Security.org’s research found 7 in 10 homebuyers are looking for a smart home, with 78% willing to pay more for a home with smart devices – millennials more than older generations. A majority of homeowners use smart devices for convenience and time savings, followed by safety and security. Two in 3 Americans – twice as many women as men – desired a smart home security-related device more due to past 12 months' events. [security.org] We’ll ask Bill Pugh at Smart Connections Consulting, Mary Nitschke at RealPage Smart Building, Leonard Lee at neXt Curve and Lee Miller at RealPage for their take on The Future of Consumer Smart Home Tech Trends 2022 and Beyond.