19 Aug 2021
Be Smart Be Smart Tech Savvy
The pandemic has changed the way we interact with our homes. Having spent an inordinate amount of time lounging around the house with our families, we have found new and interesting ways to not only entertain ourselves but also protect ourselves. At the heart of this has been smart technology that has enabled us to stream, cast, view, listen, observe and command and it’s unlikely we’re going to see an immediate cessation of the trend.
In the UK our thirst for smart technology continues and revenue in the Smart Home market (not including smart TV’s) is set to reach £5,277m in 2021 with an expected annual growth rate (CAGR 2021-2025)* of 15.06%, resulting in a projected market volume of £9,249m by 2025. So what does this mean for brands and retailers? It’s a positive trend that nods to an opportunity for all to continue focusing on as our homes become outdated and the need to update becomes essential and note merely fanciful.
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