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The Home Automation Marketplace quarterly report provides guidance on product design and product strategies. It provides item level product detail – including product attributes and average selling prices – of the home automation products currently selling at retail. Eight product categories are included: security cameras, smart entry, smart lighting, sensors, system controllers, smart power, item trackers, and kits.
By most estimates, 2022 was a difficult year for home technology investments. Consumer electronics retail revenue fell -8% compared to an historic 2021 as a multitude of economic challenges from higher gas prices to higher interest rates threatened consumer spending. Home Automation sales were impacted by lower spending as well. Industry revenue in 2022 declined -2% compared to 2021 as key categories including Smart Lighting, Smart Thermostats, and Home Security Systems faced lower sales.
The week when:
- Ikea Releases Air Quality Sensor
- Josh.ai Envisions ChatGPT for Home Control
The week when:
- Samsung Eases Matter Set Up
- Generac Unveils New Products
Home Automation revenue grew 1% in 2022 as security and monitoring devices continued their growth trend. Security Cameras and Smart Doorbells, the category’s largest revenue segments, saw sales increase 1% and 2%, respectively, in 2022 over 2021. Meanwhile, sales of convenience focused devices including Smart Power and Smart Displays declined in 2022 resulting in mostly flat household adoption levels.
Key Insights uncovered in this consumer report include:
The week when:
- Samsung Debuts A New Hub
- Enter the Mui Board
The week when:
- The HomePod Returns
- Galaxy Watch Update Adds Smart Controls
The week when:
- NRG Energy Acquires Vivint
- Ecobee Offers Free Smart Thermostats
The week when:
- First Matter Smart Plug Goes On Sale
- GE Unveils a Smart Mixer
The week when:
- Amazon Rolls Out Matter
- Aqara Introduces A New Controller