The Home Tech Boom
The home technology industry has been steadily growing for decades. While much of this growth has been slow, the past few years have seen the industry skyrocket. As home automation booms, employment in the industry is likewise reaching new heights.
The digital age is here in full force. Smart home device shipments surpassed 349 million in 2020, and experts expect that figure to jump to 1.77 billion by 2025. In just a few years, these gadgets have gone from fringe technology to a standard part of everyday life.
Here’s a closer look at this boom and how it’s affecting jobs in the sector.
Smart Home Tech Is Reaching New Audiences
The world is in the middle of a virtual revolution. Everything from school to work to doctor’s visits now has online, remotely accessible alternatives. Experts believe 2021 will solidify home learning and work forever as more and more technology starts to revolve around the home.
This technology is growing outward as well as upward too, reaching brand new audiences. One survey found that 85% of American adults bought a smart device in 2020, and one in four did so for the first time. That means that home automation is breaking into new markets, so growth in more specific niches is likely to follow.
As new users from different backgrounds embrace this tech, the industry becomes more diverse. That diversity can mean success for more specialized, targeted products since there’s more likely to be an audience for everything. This, in turn, inspires devices for different market segments, attracting even more new audiences, leading to exponential growth.
Rising Demand Fuels Job Growth
Naturally, as sales of these products have skyrocketed, jobs in the industry have benefited. Electrician positions, for example, are expected to grow 14% by 2024, double the overall job growth rate. New openings could even surpass that expectation since the sector has seen exponential growth since that data came out.
This rising demand and diversity in the industry will also open the door for new companies targeting more specific consumer bases. With specialized opportunities like this, businesses can succeed without worrying much about too much competition.
No Signs of Slowing
Some people remain skeptical when they see impressive figures like these. After all, explosive growth has seen equally sudden ends in many instances throughout history. The home tech industry shows no signs of slowing down for some time, though.
Earlier, we mentioned a survey that showed how most Americans bought a smart device in 2020. The same survey found that 46% of Americans spent more on home tech in 2020 than in previous years, and 58% spent more time using it. These devices are becoming a more central part of people’s lives.
People don’t quickly forsake something that plays a prominent role in their life. Smart home tech has firmly inserted itself into modern life, with both business and leisure reshaping around it. As our lives become more digital and home-centered, this industry will only grow.
The Home Tech Industry’s Future Looks Bright
The home automation industry has seen remarkable growth recently, and there are few, if any, challenges on the horizon. Smart home devices are becoming inseparable from modern business and recreation. As these trends continue, sales will keep rising, and industry jobs will keep becoming more profitable.
Home automation companies across the board are seeing rising profits and job openings. Current trends show only signs of growth, too. There’s never been a better time to get into the home tech sector.
By Guest Contributor Shannon Flynn
