Smart homes are here to stay - and across the US, we’re adopting more convenient lifestyle tech. From Amazon and Google voice assistants to automated lights and drapes, smart home tech is genuinely incredible. But what are smart home startups doing to change the game even further?
Smart Homes Across the US: The Statistics
Smart home technology has more than landed in America - it’s booming. Statistics show that the US market for home tech is bigger than anywhere else on the planet. The market’s well on the way to reaching value just short of $29 million by the year’s end.
What’s more, around four in every ten homes in the US can be considered ‘smart’. This penetration is only likely to build, too. By mid-decade, we may be on the cusp of a smart home majority - over 57% of properties will be on board. That’s a growth rate of just short of 13% between now and 2025.
Therefore, it’s clear to see that homes across the US are taking smart tech seriously. Whether it is automating security via an app, creating home cinema rooms, or making heating smarter, millions of Americans are keen. While smart TVs may be dipping in interest, control hubs, sensors, and automation are on the rise.
How Can Startups Change the Game?
While smart home technology is already prevalent across the US, there is always a ‘next step’. That, intriguingly, is wheere pioneering, smart home startups strive to take convenient home tech to a whole new level. Just when you thought your Alexa home circuit couldn’t be more convenient - there’s more innovation around the corner.
Nest is perhaps one of the biggest emerging innovators in the niche. The firm, first founded in 2010, is responsible for hundreds of patents. Specifically, their focus is on smart home thermostats and inter-connectivity. Thanks to Nest, it’s easier than ever to create a cozy home from a few taps of an app.
Nest was one of the biggest acquisitions in the sphere, too. Worth $80 million in funding, Google acquired the brand back in 2014 - for a cool $3.2 billion. When Google takes notice - you know it’s a big deal. However, they’ve benefitted from at least 11 different investors over the years and are still developing third-party support.
Let’s also consider Ajax Systems, NYC’s own smart security specialists. The company, celebrating its 10th year since inception, is worth more than $11 million in direct funding. However, their security technology is set to build more interest in the years to come,
Specifically, Ajax provides smart detectors and sensors to protect your home against fires, gas leaks, and even break-ins. It’s all controllable through a single hub, too.
What’s Next?
That’s a question only smart home innovators and engineers can answer. Our homes are working harder for us than ever - and further exciting smart solutions are just emerging.
Startups providing smart home engineering and concepts are viewable deep in the Fundz' vault. Why not check out some real-time statistics for inspiration?
SOURCES USED
https://tracxn.com/d/trending-themes/Startups-in-Smart-Home-Suite
https://www.startus-insights.com/innovators-guide/5-top-smart-home-startups-out-of-550-in-energy/
https://thewiredshopper.com/12-smart-home-tech-startups-that-changed-our-lives/
https://www.statista.com/outlook/dmo/smart-home/united-states
Topic: Startup
