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Tech Gets Bigger, Especially in Home Security

Home automation technology is an ever-growing retail segment, and products for home security and other house improvements are top sellers worldwide.

Home security systems produced the most revenue –$1.51 billion–of all home automation products in a market that is growing rapidly, according to a report from Transparency Market Research, a market intelligence company.

Demand for Wi-Fi operated products is a driver for much of the growth that Transparency Market Research is observing, with Wi-Fi enabled products accounting for 50 percent of the overall market,  Security Sales & Integration magazine reports in a recent article. When buying products in the life safety and security category, consumers are increasingly looking for ways to remotely monitor their homes, the article says.

“The home automation market is primarily driven by growing need for effective solutions in various domestic applications such as lighting, life safety and security, and energy management,” according to the magazine.

Home Automation Graphic
Applied to Retail: Transparency Market Research forecasts continuous, rapid growth in the home automation market so keep the trends and consumer demand in mind as you look for new smart home products to sell in your store.
Consider creating or deepening your assortment of home security products, especially if customers ask for or talk about wanting to remotely monitor and control security systems, thermostats and other in-home appliances.

About Kate Klein

Kate is profiles editor for Hardware Retailing magazine. She reports on news and industry events and writes about retailers' unique contributions to the independent home improvement sector. She graduated from Cedarville University in her home state of Ohio, where she earned a bachelor's degree in English and minored in creative writing. She loves being an aunt, teaching writing to kids, running, reading, farm living and, as Walt Whitman says, traveling the open road, “healthy, free, the world before me.”

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