Consumers nowadays can’t turn on the TV without seeing commercials for smart home products like Google Home or Amazon Echo. In turn, these trending voice-controlled digital assistants have helped raise consumer awareness of other home automation products, such as smart, connected thermostats. In fact, the global smart home automation market is expected to reach $130 billion by 2025, according to a report by Grand View Research Inc.
With the growing interest in smart home products, if HVAC contractors want to cash in on new opportunities, they’ll have to compete with security contractors, cable providers, utilities, and even big box stores. However, many industry experts say this market presents countless opportunities for HVAC contractors, who are better positioned than most simply because they are already in the home and have the consumers’ trust.