As of 2023, at least 69% of American homes will have a smart device, expected to rise in 2024 as more install gadgets. Smart homes are growing in popularity yearly as home automation technology innovates. Security and temperature control systems remain the most popular.
In 2020, almost 37 percent of households in the United States owned a smart home device, the highest forecast smart home penetration rate worldwide. Global smart home purchases will surpass 475 million in 2020. By 2023, automation in US homes will be 53.9%. 31% of US households own a smart speaker.
Smart Home Security Concerns and Costs
40.8% of smart homes have at least one device vulnerable to attacks, putting the whole home in danger. It costs $970-$3,310 to make a home smart.
Smart Home Market Expansion
The industry will be worth $589.98 billion by 2028.
The global smart home market will be worth $589.98 billion by 2028 as more adopt this technology for security, temperature control, and convenience.
Distribution and Growth of Smart Homes Across States
Florida has 2,242 hi-tech listings, the most in any state. Iowa has 85 smart homes per 1,000 listings, the highest proportion. NYC has the most smart home listings at 615. But Madison, Wisconsin has the greatest density with 149 per 1,000 listings.
West Virginia residents average 1,877 monthly smart home searches per 100,000 people, the most interested state. The Google Home Hub is the most popular device, averaging 118,760 searches monthly across states.
Arizona leads smart home growth at 22.9%. Connecticut follows at 22.7%, then Nebraska, Illinois, and Colorado. Alaska lags with 5.2% growth, most resistant state.
Los Angeles tops smart home listings at 615. San Antonio places second with 252. Chicago comes in third with 204. Houston and LA round the top five.
The most smart homes are in California, Texas, and Vermont.