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

Events startup Pollen enters administration months after raising...

August 11, 2022

Powervault secures £3.8 million to grow British-made electricity...

April 12, 2023

The Chancellors’ winners and losers

September 23, 2022

Metro Bank heads list of UK banks with...

November 1, 2023

Britain’s biggest Rolex seller urged to move primary...

October 23, 2024

Vizzy raises £3.65m to reinvent the CV for...

April 17, 2025

UK businesses slash investments due to soaring prices...

August 1, 2022

Asda Reports Sales Slowdown Despite Loyalty Scheme Success

April 22, 2024

How to Choose the Best eCommerce PPC Services...

March 12, 2025

London becomes home to over 16,000 new businesses...

August 24, 2023

    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 warns Rand Paul he’s playing into ‘hands of the Democrats’ with ‘Big, Beautiful Bill’ opposition

      June 1, 2025
    • White House urges Iran to accept nuclear deal as IAEA reports uranium enrichment spike

      June 1, 2025
    • Israel hostage deal in doubt as Hamas adds demands, US envoy calls terms ‘unacceptable’

      May 31, 2025
    • Iran condemns Austria over report on advanced nuclear weapons program

      May 31, 2025
    • Michelle Obama facing backlash over claim about women’s reproductive health

      May 31, 2025
    • Hamas agrees to release 10 more hostages

      May 31, 2025

    Categories

    • Business (8,105)
    • Investing (2,000)
    • Politics (15,453)
    • Stocks (3,119)
    • 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