Interest in smart home and home automation products is growing by leaps and bounds every year. And it’s no longer just about Wi-Fi thermostats. The market now includes smoke detectors, smart locks, doorbells, lights, and digital assistants, like Amazon Alexa and Google Home. In 2016, 80 million smart home devices were delivered worldwide, a 64 percent increase from 2015, according to a report from IHS Markit. That number is projected to reach 477 million devices in 2020, per the report.
This market offers the opportunity to increase add-on sales and improve profitability. Now is the time for HVAC contractors to add these products and services to their businesses, if they haven’t already.