It’s 2018 — what a time to be alive! It’s an age where homeowners can control pretty much anything in their homes from their smartphones or tell Alexa to do it for them. Consumers share a growing concern about safety, security, and convenience. That, along with growth in the IoT, is driving sales in the smart home market.
In fact, according to a report from Mordor Intelligence, the global smart home market was valued at $35.7 billion in 2017, and it is expected to reach a value of $150.6 billion by 2023, growing at a compound annual growth rate of 26.9 percent during the forecast period.