Installed Home Technologies Market Sees Recovery
Apr 24, 2013
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The overall growth of the home technology market remained consistent from 2011 to 2012, according to data from the Consumer Electronics Association (CEA). Technology installations in new homes reached or exceeded 2008 levels, which CEA said was evidence that the market for built-in home technologies is on the road to recovery.
Structured wiring remains the most common installed technology (70%), followed by monitored security (44%) and home theater pre-wire systems (27%).
"These installed technology trends signify that some home technologies have made the transition from luxuries to standard options," said Chris Ely, senior manager of industry analysis, CEA.
CEA reported that builders find marketing these technologies is important--49% of builders surveyed said they find it much more or somewhat more important to market these technologies today.
Overall, builders report installing popular technologies like structured wiring and monitored security in remolding projects. Small builders (42%) saw a greater portion of their revenue stemming from remodeling efforts in comparison to luxury homebuilders and local builders.
"Small and custom builders typically install most key home technologies in comparison to national builders, which suggests that this is a competitive advantage for small and customer builders," said Ely.
The study also finds that almost all (92%) new homes are equipped with broadband cable, up 36% from in 2002. With greater broadband access, the report notes that one in four newly built homes in 2012 (23%) have a dedicated home theater room as opposed to one in ten in 2010.
"The increase in dedicated theater rooms shows that more consumers are realizing the benefits of having these installed systems in their homes," added Ely.
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