Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

More than half of UK homes to be smart homes by 2027

by October 19, 2023
October 19, 2023
More than half of UK homes to be smart homes by 2027

The home entertainment sector is currently thriving, with the United Kingdom positioned as one of its largest global markets.

Leading home technology installer, Robert Taussig, reports that the United Kingdom will see the integration of 15.1 million smart homes by 2027. In essence, this means that more than half of households in the UK will feature smart home entertainment systems by 2027.

UK Smart Home Adoption Set to Grow by 30% in 2023

In 2023, the number of smart homes in the United Kingdom is poised to increase from 4.4 million in 2022 to 5.7 million, reflecting an annual growth rate of 30%. These statistics are derived from the Market Insights report by data firm Statista, encompassing multi-room music devices, entertainment-specific remote controls, and streaming devices as part of this segment.

According to this data, smart home adoption in the UK stood at just 1.3 million in 2017, constituting a 4.5% market penetration and increased to 4.4 million last year, with a penetration rate of 15%, with the annual growth rate in this period consistently hovering between 20% and 30%. Projections indicate that this growth rate will maintain its momentum in 2023, resulting in a 19.1% penetration rate. Essentially, one out of every five UK homes will be smart homes in 2023.

Expectations of sustained growth underscore the UK’s evolving market dynamics. By 2024, the smart home count is forecasted to reach 7.2 million, corresponding to a 24.4% market penetration. By 2027, this figure is set to soar to 15.1 million smart homes, achieving an impressive 50.2% market presence.

The UK smart home entertainment market holds a significant position in the industry landscape. The UK sector is expected to generate £814 million in annual revenue by 2023, ranking it just behind the United States and China, the two largest markets in the world.

Robert Taussig comments, “As smart home adoption continues to grow, the systems we install are becoming smarter. We’re moving closer to the realization of childhood Jetson and Jarvis dreams, where we can seamlessly control our living and entertainment spaces. These systems not only monitor and curb our energy usage but also intuitively respond to our every need and want, making life more convenient and futuristic than we ever imagined.”

Read more:
More than half of UK homes to be smart homes by 2027

0
FacebookTwitterGoogle +Pinterest
previous post
Met Police roll out facial recognition technology to tackle London’s shoplifting
next post
UK Prime Minister puts US officials on blast regarding Hamas: ‘Call it what it is … evil terrorists’

You may also like

How employers can support staff going through menopause

April 27, 2023

Ex-England Footballer Emile Heskey Ordered to Pay £200k...

June 4, 2024

Achieving Work-Life Balance with Air Landline: Streamline Your...

April 18, 2023

Yorshire-built Twisted 4x4s head for Japan in new...

November 13, 2023

CBI business group faces new sexual misconduct claims

April 4, 2023

Over 80% of UK small business owners fear...

October 25, 2024

Santander under fire as ‘free for life’ business...

July 24, 2025

UK marketplace sellers brace for ‘second Brexit’ as...

February 18, 2025

Why smarter office investments start with rethinking priorities

May 20, 2025

Secrets of Success: Ed Johnson, CEO and Co-Founder...

August 12, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump gave the Oval Office a gilded makeover – and covered the cost himself

      August 24, 2025
    • Trump learns a lesson grounded in faith, how best to stand tough on trade with China

      August 24, 2025
    • Latest Decode Casino Bonus Code Deals You Shouldn’t Miss

      August 24, 2025
    • Israel set to launch Gaza City offensive: High stakes, high costs ahead

      August 24, 2025
    • New RNC chair Joe Gruters vows to ‘ride the president all the way to victory’ in midterms

      August 24, 2025
    • Russia looks to update nuclear program amid ‘colossal threats’ from West

      August 24, 2025

    Categories

    • Business (8,866)
    • Investing (2,235)
    • Politics (16,474)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved