Home Automation

Marketplace Report - March 2023

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. 

Industry Overview - March 2023

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. 

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