With technology innovating rapidly, trends are changing fast. These trends not only dictate how you use technology but also what products to invest in. 

Rapidly developing technology also leads to more product choices, so knowing which device is right for you is crucial. Let’s look at the latest trends in electrical technology and how to choose the right products according to them.

Electrical Trends in 2023

As we’ve mentioned, the electrical industry is rapidly evolving, and this change has brought out innovative products that make your life easier. 

The revenue of the electronic product market is expected to reach 1.1 billion USD in 2023. The predicted growth rate for this industry is expected to be around 2% until 2027. With this figure, we can predict the landscape of the electronic product market in the upcoming year. 

As the revenue for this industry increase, manufacturers are more likely to produce high-quality products to meet the consumers’ growing demands.   

When it comes to specific devices, telephones take the lead. The largest market segment in the electronics industry belongs to this sector. This trend seems consistent with the past decades as smartphones have become the leading way for people to communicate with each other. 

Experts indicate that the telephone market will reach a market volume of 498 billion USD in 2023. The segment includes mobile telephone products and their associated data. 

Even though smartphones have always been popular, the newer models will work alongside various other devices to help you stay connected all the time. 

The Future Of Smart Home Devices

At the forefront of electric advancement is the smart home industry. This industry comprises of all smart electronics that help you build a connected home. 

With more consumers opting for electrical devices than ever, this market will grow significantly. The smart home devices market is expected to experience a boom in the next five years. 

Experts believe that almost 130 million households are expected to own at least one smart device. The current household penetration rate for smart devices in the UK is 45.8%, making up almost half of the region’s population. 

This number is expected to grow significantly to 98.8% by 2027. With such significant growth, many consumers will opt for smart home products. 

Energy efficiency is a significant concern for many modern consumers, so smart devices are trendy nowadays. In today’s modern world, many people own at least one smart device. With innovative technology, we can expect even more high-quality products in the future. 

Since there are more smart products now than ever, there will be new standards in the future that will determine how well these devices work. 

Many electronic industry experts believe that Matter software will gain popularity in 2023 as it allows multiple smart home devices to interact with each other. This revolutionary standard will change the way consumers interact with their smart products. 

To create a more extensive network, many homeowners opt for devices that help them achieve a smart network in their homes.  The global spending on Internet of Things products is expected to reach 1.1 trillion USD by 2023. 

The Internet of Things or IoT comprises all connected tech, so growth in this sector could indicate better smart products in the future. This figure highlights a significant growth in the demand for smart home devices. 

The Rise of Electrical Vehicles

Apart from smart appliances, customers are also showing increasing interest in smart cars. 

Smart cars are the next-generation travelling option for many as they have several energy saving and sustainable features.

The electric vehicle market is expected to reach a revenue of 19.13 billion in 2023. The good thing about a bigger market is that more options will make electric vehicles accessible to a broader population. 

Electric car registrations are reaching a record high in 2023. Fleets and business consumers were primarily responsible for purchasing electric cars in this, reflecting two-thirds (66.7%) of all registrations. This number highlights how the trending popularity of EVs outside domestic owners. 

But even in the domestic sector, consumers are increasingly interested in EVs. Automobile market experts believe 6.5 million households will purchase an electric car by 2030. This statistic shows that one in four homes in the UK will have an electric automobile in the coming years. 

A significant shift towards EVs can be attributed to more climate change awareness. 44% of petrol, diesel, and hybrid drivers plan to switch to fully electric cars in ten years. 

With rising awareness about the benefits of electric vehicles and the impending ban on fossil fuel-run cars, many people will be switching to electric vehicles in the future. Such high demand will encourage EV manufacturers to produce high-quality, innovative motor vehicles that help the environment.

The Future Of Renewable Energy 

On the surface, renewable energy might not seem related to electrical advancements; however, more efficient products mean you will use your energy better. 

Modern products are designed to use energy intelligently to give you the best user experience possible. Some electronics are also compatible with renewable energy to maximise power use. 

To understand it, we must also look at renewable energy trends. 

Currently, there is an increasing push towards more renewable energy, with many governments increasing their funding towards these natural resources. In the UK, renewable energy capacity is set to increase by 30% in 2024. The majority of this capacity is set to come from offshore wind power. 

On the other hand, coal and fossil fuels are expected to decrease by 14% in 2024. This decline shows that governments are less dependent on fossil fuels than before, and with more renewable capacity in the future, we can expect this decline to increasing further. 

The UK has set a new goal for wind power generation in 2023. The plan highlights 87% of wind power generation in the year that will be supplied to the national power grid. 

By 2023, the UK aims to generate 100% of its energy from renewable sources. This large-scale effort will decarbonise the region’s energy emissions. This goal would provide a more affordable energy source in the face of rising gas and electricity prices.  

With these renewable energy trends, we can understand how the technology industry will shape up in the future. Modern appliances will become increasingly compatible with renewable energy to give you efficiency and convenience.

What Is A Smart Home?

Now that we’ve discussed the latest trends in electrical technology, you might wonder how smart homes work. 

A smart home is an efficient home setup where electrical appliances are automatically controlled from anywhere using a Wi-Fi connection. 

Devices and appliances in smart home systems are interconnected through the internet. This connection allows users to control the functions of the linked devices. You can use a smartphone or a networked device to control your appliances remotely. 

You can grant security access to your home, adjust the lighting or temperature of a room, and create a home theatre experience with the help of smart home technology. 

You can control your smart home technology from a tablet device as well. Smart home systems can be set up through a hardwired or wireless connection. 

The smart home market is steadily rising. By 2026 the number of active households with smart home technology is estimated to reach 25.4 million. 

Since smart home systems rely less on energy, you save more on your utility bills. Therefore, smart home technology allows you to save energy. 

How Do Smart Homes Systems Work?

As mentioned, all the devices and appliances in a smart home system can be accessed through one central point. This main point can be a smartphone, laptop, tablet, or game console. 

You can use a specialised home automation system for appliances such as televisions, thermostats, door locks, home monitors, lights, and other appliances such as refrigerators. This smart home technology is installed on a smartphone or another networked device. 

Smart homes allow homeowners to reduce energy use and benefit from electricity-related savings. A home automation device provides complete control over the appliances. You can create time schedules to control the usability of the devices. 

Smart technology also can self-learn skills. This means that the smart home device can learn the homeowner’s preferences and schedules to adjust accordingly. 

Many homeowners use smart home systems for security purposes. Some home automation devices come with motion sensor features. This feature notifies the homeowners in the event of motion detection when the homeowners are away. 

Other home automation devices can inform the authorities, such as the fire or police departments, in dangerous situations. 

Once devices such as smart doorbells, smart security systems, and smart appliances are connected together, they become a part of the Internet of Things technology. 

Creating A Smart Home

Smart home technology can be either wireless or a hardwired system. Sometimes it can be both. Wireless smart home systems are easier to install and work well with smart climate control, smart lighting, and security. 

Wireless systems are also cost-friendly and can help you save significantly on installation costs. Hardwired smart home systems can increase the resale value of any household property. However, these systems are costly and may only be cost-effective for some consumers. 

The best way to build a smart home is by gradually introducing smart appliances. You can easily do so through smart lighting and heating which will help you start building a connected home. 

If you’re looking for high-quality smart devices, visit Meteor Electrical. Here you can browse smart lighting, heating, switches, and more to help you create a connected home.

What Are The Benefits Of Creating a Smart Home?

Now that you know what smart homes are and how they work, here are some important benefits of using this technology. 

Save Energy And Money

For many homeowners, the driving force behind creating a smart home is the potential to save energy and money. 

Smart heaters and thermostats are a great way of making your home’s heating and cooling more efficient. Smart lighting reduces energy waste through inefficient luminaries and allows you better control over how much light energy is used throughout your property. 

Once you start saving on energy consumption, you will see significant savings in your utility costs. 

A Lifestyle Of Comfort And Convenience

Modern technology is designed to make life easier, and smart home products are no different. Smart home systems allow ease and simplicity with everyday household appliances. 

Many smart home devices will enable you to operate with a few simple clicks on an app or through voice control. However, you can take things further than having better control over your appliances. 

These devices can trigger based on location, time of day, or sensors. Due to these comforts, many people are switching to smart home lighting and heating. 

Better Safety And Security

Even though conventional alarm systems provide ample security to your home, smart home security provides an even more comprehensive range of features that protects your home from multiple emergencies. While surveilling your home, you can keep away intruders before they do any damage. 

Smart home security systems contain interlinked locks, lights, cameras, sensors, and doorbells, enabling higher control and surveillance. This type of home security is vital if you are away from your home as it allows you to keep surveilling your premises. 

Simplify Household Tasks

Another great benefit of smart home technology is how it simplifies simple household tasks. 

Some homeowners don’t have enough time to dedicate to household chores, so smart home appliances do the job for them. There are several smart vacuums that help you clean up your home. Some stationery appliances, such as ovens, are also manufactured with smart features. 

Crucial Energy Insights

If energy efficiency is your main concern, installing a smart home system will benefit you. Many smart home systems provide helpful insights and data based on your energy consumption. 

You can browse through this information to find areas for efficiency, or you can cut your energy consumption in these areas to save money on utility bills.