International Builders Show Trend: 75.4 Billion Gadgets by 2025, Preparing Smart Homes of the Future

The International Builders Show (IBS) 2024 highlighted a few key trends that are already redefining the housing market: the rise of “Plug and Play” smart homes. Amidst the innovative showcases, it was clear that the future of residential living is not just smart but also seamlessly integrated and ready to use from day one. Cox Communities is leading this charge, offering solutions that are both innovative and indicative of where the market is headed.

The 75.4 billion stat is a staggering number that not only highlights the scale of digital integration into our daily lives but also sets a new benchmark for what we expect from our living spaces. Christopher Phelan from CSI Construction shared insights into the evolving landscape of smart home technology, particularly in the multifamily and senior living sectors.

Phelan explains, “In the ‘for rent’ space, we’re observing large developers like Lincoln Avenue Capital and Lennar adopting sophisticated access control applications, traditionally used in apartments, for their single-family rental projects. Having the ability to control who has access to your building, neighborhood and facilities is critical in order to provide the end users a safe living space and sense of security in their home.”

As the demand for homes equipped with smart technology grows, builders and developers are increasingly focused on delivering properties that cater to the tech-savvy renter and buyer. The highlight of this year’s IBS was the emphasis on single-family homes built for rent (SFR) that come pre-equipped with the latest in smart home technology. This trend reflects a significant shift towards homes that offer not only the comfort and privacy associated with single-family living but also the convenience and connectivity of modern technology.

Guillermo Rivas, a Cox Communications executive, shared, “A significant insight from IBS 2024 is the clear consumer demand for homes that marry traditional comfort with modern convenience. We’re committed to not just fulfilling this demand but also anticipating the evolving needs of homeowners and renters, ensuring immediate access to superior connectivity and smart technology.”

The data speaks volumes about this shift: a staggering 91% increase in single-family BTR starts in the second quarter of 2022 compared to the previous year, as per the National Association of Home Builders. This is complemented by the consumer demand for smart homes, with 82% of renters desiring at least one smart device in their living spaces. Cox Communities is at the forefront of meeting this demand by pre-enabling homes with Cox Fiber, ensuring that residents can enjoy high-speed internet and a range of smart devices from the moment they move in.

It’s imperative to consider not just the quantity of connected gadgets but also the quality of our home’s energy management systems. Tim Curtis from Siemens brought an innovative perspective to the forefront, highlighting solutions that align with the evolving demands of home electrification and efficiency.

Curtis remarked, “We displayed Inhab, recognizing the market’s shift towards electrification and the need to do more with less. Our aim is to empower customers by starting with understanding their power.” This insight is particularly relevant as homes become increasingly equipped with high-tech devices, from smart appliances to electric vehicle (EV) chargers, necessitating a more sophisticated approach to energy management.

Addressing a common barrier for EV owners, Siemens is set to launch a product that circumvents the need for expensive panel upgrades, enabling homeowners to utilize their existing panels while avoiding substantial material and labor costs. “For those looking to buy EV chargers without the space in their panel, our upcoming product will allow the use of existing panels, dodging $5,000 to $20,000 in unnecessary expenses,” explained Curtis. Furthermore, the introduction of a Smart Breaker compatible with existing Siemens equipment showcases the company’s commitment to innovation in home energy management.

Attendees at the IBS 2024 were also talking about this emerging trend. “Moving into a home that’s already set up with high-speed internet and smart devices is a game-changer,” shared one attendee. “It’s not just about the convenience; it’s about having that immediate sense of being home.”

The “Plug and Play” model identified at IBS 2024 showcases a future where moving into a new home means immediate access to a fully connected living experience. Cox’s approach simplifies the transition for renters and buyers, offering a turnkey solution to the digital lifestyle that modern consumers seek. This strategy not only enhances the attractiveness of  Single Family Renters (SFRs) but also positions Cox as a key player in the evolution of smart home integration.

Pre-enabled smart homes signify a broader industry movement towards offering comprehensive, ready-to-use solutions that cater to the digital age. Cox Communities’ initiative to pre-enable homes with advanced connectivity and smart technology is a testament to the company’s commitment to innovation and customer satisfaction. As the trend towards “Plug and Play” smart homes continues to grow, Cox’s proactive stance ensures they remain ahead of the curve, shaping the future of smart, connected living in the process.