U.S. Smart Home Systems and Services to Reach $18 billion
The market for smart home systems and services in the United States is developing into a major opportunity for service providers as well as firms in other industries — such as retailers and insurance providers. Revenues from smart home related hardware, services and installation fees will reach nearly $18 billion in 2014 and grow at a 17% CAGR to nearly $39 billion by 2019.
By 2019 almost 50 million American homes — or nearly 40% — will have at least one type of smart system installed.
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