Smart Homes in North America and Europe Reached 17.9 Million in 2015
The strong market growth in North America is expected to last for years to come
GOTHENBURG, Sweden — The number smart homes in North America and Europe reached a total of 17.9 million in 2015, according to a new research report from Berg Insight. North America is the world’s most advanced smart home market and the region had an installed base of 12.7 million smart homes at the end of the year, a 56 percent year-on-year growth. The strong market growth is expected to last for years to come, driving the number of smart homes in North America to 46.2 million by 2020, which corresponds to 35 percent of all households.
The European market is two to three years behind North America in terms of penetration and market maturity. At the end of 2015, there were 5.3 million smart homes in Europe and the market is forecasted to grow at a compound annual growth rate (CAGR) of 54 percent in the next five years to reach 44.9 million smart homes by 2020, which corresponds to 20 percent of all European households.