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security, doors & windows
Smart home – what do the stats tell us?
Looking at the wider smart home market over the next four years, the forecasters at Statista reckon that the rate of growth in the New Zealand market will be second only to the UK.
This may be something to do with our household penetration which at this point remains easily the lowest of the four territories shown below.
Nevertheless, by 2026, says Statista, no less than 800,000
Kiwi homes will be equipped with some form of smart home product, having spent an average of more than $600 each in local currency.
Indeed, almost 44% of current Kiwi smart home users can be defined as high income households (easily the highest proportion of the four territories shown below), says Statista, and over 28% are
bright young things, aged 25-34.
But it is the UK which already has the highest penetration level
of smart home products and, according to Statista, by 2026 the gap between the UK and the rest will have grown further.
What is included in the stats below?
The numbers admittedly present a very broad scenario across
a very wide range of products, including: digitally connected and controlled devices within a house that can be remote controlled; sensors, actuators and cloud services that support automation in any way; control hubs to connect sensors and actuators with remote controls and to each other; and B2C hardware and software sales as well as subscription fees.
www.statista.com
NZ
AU
UK
US
2022 Revenue (US $m)
207
3,242
9,063
33,659
2022 Household penetration (%)
24
38
46
44
2022 Revenue per home (US $)
444
805
672
585
CAGR 2022-2026 (%)
12
10
14
11
2026 Revenue (US $m)
326
4,820
15,231
51,235
2026 Smart households (m)
0.8
7.8
25.4
84.9
2026 Household penetration (%)
39
69
85
63
28 NZHJ | MARCH 2022 MORE AT www.hardwarejournal.co.nz