According to fresh analysis by market research firm Berg Insight, the number of smart homes in the U.S is expected to reach 73 million by 2021, which represents around 55 percent of all homes. In it’s latest report, Berg Insight said that the current install base of smart homes in Europe and North America is roughly 30.3 million, as of 2016.
The U.S. is considered “the world’s most advanced smart home market” as the region accounts for more than two-thirds of that number. Berg Insight’s report shows that the U.S. had an install base of nearly 22 million last year, which was a 47 percent year-over-year growth.It’s that strong growth that Berg expects to continue, driving the increase in smart homes over the next few years.
“2017 is anticipated to be a good year for smart home technology as entry-level smart home systems have become affordable for the mass market, at the same time as the reliability and features have improved significantly,” Anders Frick, Senior Analyst at Berg Insight, said in a statement. While the U.S. smart home market has taken off in the past year, the European market is still lagging behind, according to the Berg Insight report. Just 8.5 million homes in Europe were considered smart homes last year. That number is expected to reach some 80.6 million by 2021—a greater number of homes than in the U.S., but that would represent just 36 percent of all homes in Europe.