Smart home technology is becoming more widely available, offering households devices that make their homes both safer and more convenient. According to the Connected Consumer blog, more than 20% of U.S. homes now have individual smart home devices, with video doorbells reaching 22% adoption and networked cameras at 20%. These figures are only expected to increase as devices become more affordable and bundling options become more readily available.
Across the past 5 years, the average selling price of smart home devices has dropped substantially, opening up the opportunity for more and more people to buy a device. The influx of low-cost competitors across almost every category is challenging established brands to differentiate through quality, innovation, and customer experience.
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