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How’s the smart home market changing?

Turnover grew annually by 157 % in Europe

The boom of smart home, intelligent household and the internet of things seem to be ever-growing. According to the Berg Insight agency last year’s research, the smart home market is still strongest in North America, where 62% annual increase has been registered. European countries are slightly delayed in development (2-3 years) – the market grew nearly twice in size however. 

Last year over 16.9 million households used smart accessories in North America. Within the number, 2.8 million owns a comprehensive multifunction system with Central unit. The next 14.1 million Americans use at least one of six modules that were compared by Berg Insight. That means, they can remotely control AC, security devices, lights, windows and doors, Audio-Video or Medical appliances for assisted treatment from their smart phone or web browser based app. 

The forecast shows that in following years the pace of the annual growth will slow down by approximately 30%. This would mean that in the year of 2020, 46.2 million of North American users would use intelligent units in their households. North American turnover in smart home business for the year 2015 was 6.2 billion USD which is 42% increase compared to the year before. Bergh insight predicts another slowing down in this case – 31% annually and 24.3 at the end of the year 2020. 

European turnover grew annually by 157 percent

European market is, to a certain degree, lot similar to the American one. Except the 2-3 year delay in development in this section of business. There were 6.6 million smart households in the EU member countries at the end of 2015. That is 100% increase compared with 2014, in which the number was 3.3 million. 0.8 million with comprehensive installation including central unit, and the rest with one of the partial components in place. Europe is bound to grow faster according to analytics – by approximately 54% annually. That would mean 44.9 million users at the end of the year 2020 if the prediction proves truthful. 

Most impressive are particularly those numbers which shows 157 % growth in Europe in terms of turnover. 2015 witnessed a breakthrough of 2.7 billion USD threshold and the numbers are expected to reach 14.7 billion. ‘’The numbers published by the Berg Insight institute practically follow the numbers which we register every year concerning iNELS system. Whereas three years ago we installed more or less small number of iNELS systems, nowadays we export to more than 70 countries around the world and we’ve branched out to 12 countries. Moreover, the statistics focus on European and American market, while our company experience extraordinary demand from the regions of Middle East,  India and East-South Asia,’’ adds Jiří Konečný, the owner of ELKO EP company which is one of the leading manufacturers on the European Market.

You may find more information from the Bergh Insight institute on the following link: http://www.berginsight.com/News.aspx
More info about ELKO EP company and iNELS system: www.elkoep.com a www.inels.com.

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