Control, Monitoring Just the Tip of the Iceberg for Smart Home Market
There are few categories in the consumer electronics market as dynamic as the smart home market right now, and for good reason. Smart home products like connected, programmable thermostats, networked cameras, and Wi-Fi connected light bulbs allow users a level of control over the systems and appliances in their homes that most have never had before. The category is growing as well- according to The NPD Group’s new Smart Home point-of-sale tracking service, sales of home automation products, which include security and monitoring products, smart lighting, and system controllers, have grown 27 percent in the past year as the market size has approached $400 million. And for the most part, consumers have a good idea of what smart home products are. According to NPD’s recent Home Automation Study, 78 percent of consumers said they were familiar with smart home products.