Smart home tech has been rapidly evolving and is being widely adopted all around the world as many are looking to upgrade their homes. 349 million smart devices were shipped in 2021, with the total number of devices shipped projected to hit over 1.7 billion in 2025. Nearly 70% of households in America now have some kind of smart device, with over 175 million smart homes globally. Young buyers are eager to modernize their homes with an array of different devices for all parts of the home. Smart devices are now replacing traditional appliances, from ovens and fridges and mirrors to light bulbs and speakers, smart home tech is carving out its own space.
Millennials and Gen Z are clamoring for their own piece of this rising industry, as these new homeowners want their homes to be more connected with smart home devices and smart security systems. Younger generations are hopping on board smart home tech because of the convenience of these devices, the cost saving benefits they can have, as well as the added security they can provide.