CEA Report: Built-in Home Technology Installations on the Rise
Consumer Electronics Association’s new Builder Technology Market Study reveals that installations of almost every home technology increased or held constant from 2012 to 2013.
ARLINGTON, Va. – Built-in home technologies, such as home automation, monitored security and energy management solutions are expected to reach $2.3 billion in revenue in 2014, according to a study released by the Consumer Electronics Association (CEA).
The “12th Annual State of the Builder Technology Market Study” reveals that installations of almost every home technology increased or held constant from 2012 to 2013, indicating the built-in home technology market has a strong, stable foothold in the United States.
According to the survey, structured wiring was the most common technology installed in 2013 at 78% , an 8% increase from 2012. Monitored security followed at 47%, up 3%, while home theaters came in at 32%, a 5% increase compared to 2012.
Additionally, multi-room audio (21%), energy management (13%) and home automation (12%) all saw increases.
A new addition to this year’s study included stand-alone video surveillance systems (including pre-wire),which were installed in 8% of new homes in 2013.
As the U.S. housing market continues to recover, the National Association of Home Builders (NAHB) predicts there will be 1.3 million new home starts in 2014. In parallel with the housing recovery, built-in home technologies are expected to reach $2.3 billion in revenue in 2014, according to CEA’s U.S. Consumer Electronics Sales and Forecast report.
“The market for built-in home technologies and the housing market in general are well on the road to recovery,” says Chris Ely, senior manager of industry analysis, CEA. “Several home technologies have made the transition from luxuries to standard options in the marketplace, indicating that technology remains crucial to new home construction, even as the tide of do-it-yourself solutions rises.”
In 2013, 93% of new homes were equipped with broadband cable, an increase of 37% from 2007. With greater broadband access, penetration of other home technology features such as home offices (51%) have grown as a result, increasing by 13% since 2007.
Additionally, three in five builders (63%) say home technologies are more important to their overall marketing efforts than they were two years ago, further indicating growing consumer demand. Among builders, the importance of marketing home technologies is highest for townhomes (95%) and luxury homes (94%).
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