VR, Tech Smart Homes are hot. The price too.
The demand and rise for smart home accessories like security cameras, smart doorbells and smart locks, first fueled by the pandemic almost two years ago, are potentially here to stay, according to the latest. forecasts from research firm NPD Group.
In 2022, smart home devices are expected to experience 6% unit growth as well as 2% revenue gains, bringing total sales to more than $ 4.1 billion, according to the NDP.
“Sales of smart home devices had a strong holiday season in 2021, and we expect unit and dollar sales to continue to grow through 2024,” said Ben Arnold, executive director and analyst at tech industry for NPD in a statement.
Consumer tech sales rose 9% to nearly $ 127 billion in the second year of the coronavirus pandemic.
Gains in the smart home segment will be driven by security-focused segments including security cameras (up 2%), smart doorbells (up 13%) and smart locks (up 8%), as well as in the segments more focused on comfort and energy savings, such as smart food (up 4%).
At the Consumer Electronics Show in Las Vegas this year, a new open source smart home interface called “Matter” reportedly made a lot of noise because it claims to run all connected home devices simply and securely. The Verge reported.
PCMag listed General Electric (GE) – Get the General Electric Company Report Outdoor security camera Cync Outdoor Smart Camera, which launches next month, among the best smart home devices of CES 2022, priced at $ 99.99 and $ 129.99.
Other smart home devices listed by PCMag include the “Masonite M-Pwr Smart Door” with flagship features like motion-sensing LED lights, Ring video doorbell and Yale Home smart lock and status sensor. door, all integrated directly into the door. The price is not disclosed.
Other devices like the $ 2,700 Kohler PerfectFill Smart Bath Drain and Filler and the $ 1,599 LG Washer and Dryer with Artificial Intelligence.
“Consumers are also focusing on entertainment, which will drive sales of stand-alone VR headsets and big-screen TVs (65 inches and above) over the forecast period,” Arnold added.
“As virtual reality provides a unique entertainment experience, the growth of big screen TVs will continue, shifting from pre-pandemic trends to larger screens,” said Arnold.
Virtual reality and augmented reality are often seen as relatively hot topics in the tech industry, as it’s the kind of thing that could potentially end up changing the way we interact with the world around us.
Facebook recently changed its name to Meta in order to focus on the metaverse, a digital space, and the different ways it can improve people’s interactions with each other and provide new opportunities for games and the like.
Overall revenue in the consumer tech segment is expected to decline 5% in 2022 with gradual declines estimated to be 4% in 2023 and 1% in 2024 respectively, NPD data suggests.
“In the short term, we anticipate a slowdown in demand due to the extraordinary rates we have seen over the past two years”, Stephen BakerNPD vice president and industrial adviser said in a statement.
“With purchasing levels this high in 2020 and 2021, driven, in many cases, by pandemic lifestyle changes, we are seeing a larger and younger installed base for a number of devices. This will inevitably slow down the needs of consumers in the immediate future for technology updates and upgrades, ”Baker added.