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Smart Home innovation driving industry growth


This article was written by our Consumer Electronics recruitment expert Floyd Havelaar.

What makes the consumer electronics sector interesting is that the market is always changing and evolving. Companies are continuously investing in R&D to improve products. And it’s this passion for innovation and a constant search for ways to enhance product features that drive consumer electronics industry growth.

It’s estimated that the €850 billion sector will grow by 8% over the next five years. Given the propensity for change, I expect that product functionality in 2027 will surpass anything we have access to today.

It wasn’t so long ago that firms were developing foldable flatscreens and smart refrigerators. I remember the Commercial Director of one of the leading consumer electronics companies showing these (still concept) products during a meeting at the company’s Amsterdam facility a few years ago. Now, these gadgets are available to buy in any major consumer electronics retailer. Product development is moving faster than people can adapt. This is interesting because it demonstrates how humans are always striving to surpass our greatest accomplishments.

And it’s not just fridges that have become ‘smart.’ Other everyday household items and appliances including locks, lamps and even toilets have integrated digital functionality and offer ‘smart’ connectivity with WiFi and phone apps. The Toto smart toilet, for example, delivers health and nutrition recommendations to your phone. Automated sanitisation and cleaning robots are also becoming popular with consumers, as are other household gadgets designed to make your life easier and heathier.

A rising preference for smart homes will see a significant increase in the adoption of audio and video equipment over the next few years. This will also, I expect, be the area where we will see the most innovation and new product development. Industry analysts are already debating the merits of 8k smart TVs, which could displace the 4k and 5k models during the next decade. And items like smart speakers, PCs and peripherals, as well as gaming consoles, will become a regular feature on consumer shopping lists.

Furthermore, as products continue to enable us to perform various tasks from a distance via our smartphones, or by utilising voice activation and speech recognition tools, the greater ability we have to conduct our lives in a flexible or agile fashion. Of course, Covid-19 has only accelerated demand for these devices. Moving forward the need, for example, to fulfil work-related responsibilities while travelling or complete personal tasks like turning the heating off at home by pressing a button on your smartphone, will only increase.

These advances were once the ‘stuff of science fiction’ but are now integral to many people’s everyday lives. As anticipation builds for the new Matrix film in December, it’s worth noting how virtual reality is also an emerging home-based entertainment trend. That includes within the world of gaming, as well as other audio-visual experiences such as bringing concerts into your living room. Firms are developing simulations of work environments for home-based employees too, as the ‘work from home revolution' continues apace.

Consumer electronics is an exciting industry to work in. As a specialist headhunter for the consumer electronics industry, we’re always interested in speaking to commercial and operations professionals who can make an impact in this competitive and cutting edge industry.

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In recent years we have placed over 400 people across 85 electronics companies, most of who were at Director and management level. So if you are recruiting or looking for your next challenge, get in touch because we are ideally placed for you.

Floyd Havelaar

Senior Consultant

E: floyd.havelaar@nigelwright.com

M: +31 657147131

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