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Looking Back At 2022 And The Year Ahead

Despite the workforce shortages and supply chain disruptions of 2022, dealers and the channel had a strong year and full project schedules

This year the consumer tech industry continued to feel the impact of the pandemic. Innovation stagnated as OEMs struggled with workforce shortages and supply chain disruption. Research and development efforts were directed at redesigns rather than innovative updates and new products. Despite this, dealers and the channel had a strong year and had full project schedules.

Trends over the past year include an increase in consumers spending time at home and spending money on home improvements. These trends have opened up a whole new segment of the population that now has, at the minimum, a cursory knowledge or introduction to smart home and building solutions. This will open the door to even greater levels of adoption for connected spaces in the future.

Streaming and Content Consumption

We will see changes in the way people consume content. Increasing penetration of broadband internet is allowing more people to cut the cord and go entirely digital. Now every homeowner will want to have the ability to watch any show in any room – without using a complicated system. Consumers who accumulated 20+ subscriptions will begin to consolidate moving to fewer content platforms. From a hardware perspective, this has changed the way our industry thinks about video distribution, leaving behind the old notion of a “hub and spoke” setup and instead becoming more dispersed. Audio distribution will continue to be a valuable offering to customers, as they choose to have audio synced throughout the home.

Self-Care and Eldercare

Paul Williams, Chief Product Officer, Nice

In 2023, people will be choosing home technologies that support health and wellness. A survey by the AARP found that nearly 90% of seniors want to “age in place” – or live their golden years in the place of their choosing. Older adults plan to use smart home technology to increase their independence while caregivers can use the technology to lessen the burden of care. The rest of the population has their sights set on technology that can make their homes healthier. Consumers will have a heightened interest in tech that can improve their home’s air quality and natural lighting that can sync with their circadian rhythm. The big pull will be for devices that can provide real-time feedback and actionable insights.

In 2023, Nice will be laser-focused on research and development across all of our markets. With a portfolio of products that covers the entire journey from DIY through professionally installed, we are uniquely positioned to take advantage of upcoming trends. Our customer-centric technologies and solutions will fulfill the promise of a smart technology platform for connected spaces. We can’t wait to ring in the New Year!

See also: Tech And Business Tactic Trends For 2023