Smart Tech Market Grows by 65% YTD
Exertis offers insights into Smart Tech market
Leading technology distributor for enterprise, business, and consumer products, Exertis, recently shared a report showing insights into the Smart Technology market. With a background in distributing retail, mobile, and B2B innovations from emerging brands throughout the UK, Exertis is one of the leading authorities when it comes to Smart Tech products. The company benefits from a wide range of products and categories available from some of the leading organisations in the market.
According to the first of Exertis’ quarterly updates, Smart Tech revenue has grown by more than 65% YTD. The commercial director for Exertis, Liam La Cumbre, said that as the leading distributor of brands in the Smart Tech space, Exertis feels confident with their ability to provide an in-depth representation of market performance.
Developments in the Smart Tech Market
The recent report from Exertis explores the recent growth of Smart Technology solutions in terms of new routes to market, innovative technology, and category expansions. According to the research, the sales of smart security products have been particularly high of late, with a growth of 35% YTD, accounting for almost half of the total market value. The space for smart heating also grew by over 47%.
According to La Cumbre, growth is evident in all of the sales channels in the UK for Smart Tech products, with e-tailers at the head of that growth. Because Exertis is in the unique position of being able to access all of the major retail channels, including Trade and DIY establishments, they can continue to expand the channel offering they provide to their business partners throughout 2019, with additional product brands, market insight, and sales support.
The Rising Demand for Smart Tech Products
As both the business and consumer environments discover the possibilities of disruptive technology, the demand for Smart Tech products will continue to rise. La Cumbre noted in a press release that Smart Tech consumer spending has evolved with growth in the double-digits. Part of this rise in purchases can be attributed to the affordability of new products, as well as the ease of use and connection that users can achieve.
Additionally, consumers buying Smart Tech frequently see benefits in the form of security, convenience, and entertainment delivered by their new devices. The market has also seen significant development thanks to the rise of the smart speaker space – which saw a growth of 98.6% in 2018 alone. 9.5 million intelligent speaker users appeared in the UK, which is 14.4% of the population.
Exertis believes that the number of smart speaker users will grow again during 2019 as more people discover the possibilities of voice-activated technology such as virtual assistants.