New research indicates a sharp increase in the trend toward smart home systems. Smart home systems require copper for wiring, electronic components and batteries. Along with smart homes, the growth of smart internet connected equipment, such as electric vehicles, smart phones and intelligent appliances will also drive the increase in copper demand.
Research, conducted by BSRIA, shows copper use in smart home applications is likely to reach 1.5 million tonnes per year by 2030. The findings indicate that as soon as 2021, copper demand could more than double across the smart home market as increased usage becomes more prominent.
The research, commissioned by the International Copper Association (ICA), 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. As smart homes evolve toward more intelligent and wired structures, copper will continue to be the metal of choice to ensure system reliability and security.
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.