Emerging Opportunities in Home Automation
With the seemingly endless flow of bad economic news in the U.S. and Europe, retailers have reason to be concerned. Despite the doom and gloom, there is growing opportunity in the home automation sector.
The consumers that fuel these opportunities have homes in the $2-million range and continue to spend on automation and security solutions, as well as higher-end home appliances. This group of consumers’ accounts for a disproportionate amount of activity in the real estate market. Whether they are maintaining a residence or upgrading or searching for a new one, this group constitutes a stable and growing demographic that bodes well for retailers, specialty dealers and custom installers.
Features such as convenience and interoperability are motivators for home automation purchases. Others include environmental and safety concerns. The link between home automation and “green awareness” is beginning to be exploited, whereas remote monitoring of electricity usage and security has been a segment staple for years.