North America Is First in Smart Homes
Smart homes are increasingly popular these days, with an estimated 175 million smart homes in operation around the world as of 2022. In this year alone, it’s estimated that smart home devices have generated nearly $91 billion in revenue, and it’s projected that this amount is going to grow significantly over the next few years. In fact, the projected compound annual growth rate of the smart home industry’s revenue between 2020 and 2025 is an astonishing 25 percent.