The smart home market is expected to be worth $79.13 billion in 2020 and $313.95 billion in 2026. From 2021 to 2026, the market is predicted to grow at a CAGR of 25.3 percent. The falling costs of smart sensors and the growing use of the internet of things are helping to fuel the growth of the smart home market. Smart home solutions still have a long way to go in terms of satisfying customers’ needs, but the market’s major players have done so while providing enormous value to their customers.
Insider Monkey selected smart home technology stocks which displayed growth potential. After lowering his price target on Universal Electronics Inc. from $62 to $53, Riley analyst Jeff Van Sinderen maintained a Buy rating on the stock. The company’s gross margin was hit by inflationary and currency pressure as it shifted to more software-intensive/licensed new generation products and royalty revenue. Vacasa, Inc. was given an Overweight rating by JPMorgan’s Doug Anmuth on February 16th, with a $10 price target. Analysts predict that Vacasa will continue to be a valuable strategic partner for Airbnb, Booking Holdings, and Expedia. Software and hardware for home automation are sold by SmartRent, Inc., a smart home automation company. An open-architecture smart apartment company with over 22,000 installed and committed units has recently been acquired by the company. One of the leading software developers for smart home devices and automobiles, Synaptics Incorporated is based in California. Profits per share of $3.26 beat expectations by $0.14 and revenue of $420.50 million exceeded expectations by $716,670 for the company. It is an American company that manufactures smart home and software solutions, Resideo Technologies, Inc. First Alert and Arrow Wire & Cable were recently purchased by the company. The company’s largest shareholder, Praesidium Investment Management Company, owns 6.8 million shares, worth a total of $177.5 million. For more details, click 10 Smart Home Technology Stocks To Buy Today.