The popularity of smart home tech has been exploding in recent years as Millennials and Gen Z are buying into this budding industry. Hundreds of millions of devices have been shipped all around the world with over 175 million smart homes worldwide, comprised of dozens of different devices, applications, and machines. Nearly 70% of American households now own a smart device as many begin to modernize their homes. Devices for all parts of the home, from kitchen appliances to gate locks, to speakers and lightbulbs, have all been recently taking center stage.
Young buyers are all wanting their own slice of the smart home pie and have fallen in love with this tech. Over 85% of Millennials would pay for a more connected home, with many wanting smart devices in their homes and smart security systems for their homes. Younger generations are seeing the value in smart home tech with the security, cost-effectiveness, and convenience that it brings to the table. Smart home security adds extra protection and having a smart thermostat or water heater can save thousands over the long term.
Learn more about the growth of smart home tech and what Millennials and Gen Z are paying the most attention to here.