Market Trends of Smart Home Installation Service Industry
E-commerce Boosting the Growth of Smart Home Installation Service Market
- The increasing popularity of E-Commerce channels is expected to create new opportunities in the smart home installation services market. With nearly 60% of consumers having at least one smart home device, consumers are finally beginning to embrace these products. This offers a chance for e-commerce businesses to join the smart home and promote device purchases.
- The pandemic has helped to reshape the future of online purchasing and forced businesses to adapt to meet new needs and demands, forcing many customers to change how they purchase necessities, gadgets, and apparel.
- Many companies collaborate with E-Commerce channels to expand their reach into their target customer segments. For instance, eBay announced partnerships with three service providers in the smart home companies - InstallerNet, Handy, and Porch. This allowed end users to book smart home installation services on eBay's inventory.
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North America Expected to Have Significant Market Share
- One of the main factors propelling the market for smart home installation services in North America is the rising acceptance of network-linked devices there. The region's dominant position in the world market for smart home installation services may be attributed to the tendency of early technology adoption and the large presence of industry players like Vivint, Inc., Red River Electric, and Miami Electric Masters.
- Smart homes are on the rise, with nearly 30 million U.S. households projected to add smart home technology in the near future. Consumers are adding products to their homes, including connected cameras (highest demand), video doorbells (2nd highest demand), connected light bulbs, smart locks, and smart speakers of late.
- According to a recent survey in the U.S., security-focused smart home products are in demand, as family safety is a significant factor in adopting smart home technology. However, the biggest driver for the market in this region is that consumers are adopting smart home technology like smart lighting solutions and energy management solutions to simplify their lives with greater convenience.
- Similarly, house owners in Candan are regressors looking for solutions that help them save on energy and reduce their carbon footprint. Further, Schneider Electric launched a suite of connected living products to help more homeowners take advantage of this emerging technology, addressing the most common demands of Canadian homeowners when shopping for smart home technology, such as ease of installation and use, long-term durability, and sustainability.
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