Millions of British homes to 'go smart’ by the end of the year

E-commerce

by Michael Moore| 16 July 2014

Devices like British Gas' Hive will lead to over £715m being spent on new tech in 2014.

Households in the UK are set to become more connected than ever before as more and more people embrace so-called "smart home" technologies, research has found.

By the end of 2014, one in nine (11%) UK households will have at least one smart system, such as British Gas' Hive smart thermostat, in place, with this figure set to grow to over one in four households (27%) in five years, according to analysis firm Strategy Analytics.

This means that 3.1 million homes will have some form of smart home technology, which can also include energy management, security networks or automated entertainment systems, in place, an increase of 41% compared to last year.

The report notes that the UK is playing a leading role in installing the futuristic technologies, with the British adoption rate well ahead of the expected global average of 5%.

Spending on smart home technologies is set to reach £715m this year, as UK smart homes spend an average of £234 each, which is forecast to double to £1.4bn across 7.7 million UK households in five years (2019).

Overall, worldwide smart home revenues in 2014 are set to reach £29.3bn.

The rate of adoption will only increase as "cool" companies such as Apple and Samsung become involved in the smart home market, alongside a selection of single-purpose devices from companies like Belkin, Dropcam, Piper and Tado.

"Whilst telecom brands are leading the drive in Europe, energy companies are dominating the early take-up of smart homes in Britain," report author Bill Ablondi explained.

"British Gas re-launched its smart home thrust in late 2013 under the Hive brand and now has almost 100,000 subscribers. In addition, Google subsidiary Nest struck a deal to offer its stylish thermostat through nPower while E.ON is actively preparing its launch after a trial in Milton Keynes."

 

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