The home tech market is expanding its scope, drastically accelerated by the pandemic’s blurring of commercial and residential space and workflows. This trend was front and center at CEDIA this year with its Innovation Hub focusing on “merging industry trends such as work from home, resimercial, security and more.” And with this increase in scope comes an increasing number of layers around the residential and commercial experience that require innovative solutions and imaginative strategy. Industry leaders are guiding critical discussion at CEDIA 2022 around topics like Health and Well-Being Strategies for Residential, Managing Subcontractors in Today’s Gig Economy, Where Smart Home Protocols Stand in 2022, The Intersection of Technology Professionals, and Understanding, Selling & Implementing Human Centric Lighting.
This is a critical time for the smart home market, too, and the perfect moment for home tech professionals to talk shop and discuss strategy for the next era of their industry. Smart home technology adoption is ticking up at a consistent scale, reaching nearly 303 million households worldwide this year, with estimations of upwards of 478.2 million households by 2025. The industry’s global revenue forecast, earmarked at $122.9 billion for 2022, is expected to reach $182.4 billion by 2025. While smart appliances still hold the largest market segment of the broader smart home industry, the ecosystem is clearly growing in use cases and enterprise validation as other verticals like control & connectivity, security, and comfort & lighting gain year-over-year steam.
While Amazon still dominates the $113 billion market, the spread of solutions pushing the boundaries of smart home tech reach far beyond smart speakers and connected thermostats. This is evident from the variety of companies leading conversation on the show floor, from Sony and Harman, to Draper and Legrand.
MarketScale’s Pro AV team, including Host of Pro AV Today Ben Thomas, hit the show floor to hear from companies and tap into the technologies and dialogue shaping CEDIA 2022. Ben had a chance to interview CEDIA’s Global President and CEO, Daryl Friedman. Check it out here.