The Smart Home industry is expected to grow at an impressive compound annual growth rate of 7.5%, growing from $158 billion in 2018, all the way to $262 billion by 2025. The industry has seen some spectacular exits, with big tech giants acquiring many start-ups resulting in large payouts for investors:
Google acquired Nest, the makers of the Smart Thermostat, for $3.2 billion, earning investors a 22X return on invested capital.
Remember Ring? They got rejected on Shark Tank, and ended up selling to Amazon for $1.2 billion. Ring’s founder then became a guest Shark on the show, with the last laugh!
Assa Abloy is a $26+ billion company who dominates door locks, purchased August, the makers of the Smart Lock to expand into the smart home!