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Smart Homes To Lift Copper Market

Smart Homes To Lift Copper Market

Research, commissioned by the International Copper Association (ICA), shows copper use in smart home applications is likely to reach 1.5 million tonnes per annum by 2030, thanks to a sustained, worldwide appetite for smart home systems. As soon as 2021, copper demand could more than double across the smart home market as increased usage of wiring, electronic components and batteries becomes more prominent.


Overview
The work forecasts this sharp increase as the global smart home market continues to grow, with 1,600 million systems forecast for installation by 2030, an increase from 177.2 million in 2018. Copper is found in smart home hubs, switches, routers, wiring and lithium-ion batteries, making smart home integration a significant part of rising copper demand.


Key Findings
• From 2018 to 2030, global market growth for smart home systems is forecast to increase to 21% CAGR. This is due to both demand and production increases for smart home appliances, ranging widely across different regions, covering voice control, security, energy management, entertainment products and more.
• The smart homes market is driven by a combination of factors: global policy, the wider energy transition, and technologyenabled consumer demand for comfort. As such, architectures will continue to evolve towards more complex structures with additional wiring, thus increasing
copper demand.

 

 

Source: International Copper Association (ICA)