Experts around the world are of the opinion that by 2020, more than 50 billion devices will be connected to the internet, leveraging the concept of IoT. These devices will essentially lead to the adoption of smart cities, connected factories, care facilities and obviously, homes. Home automation technology facilitates control of smart appliances with smartphones, tablets and other networking devices. Internet of Things (IoT) has emerged as the key underlying enabler of smart homes and the technology is set to make lives not only comfortable but also help save energy and costs considerably.
Why smart homes are witnessing increased adoption?
The global smart home market has been on a steady rise, fueled mainly by the growing adoption of home automation technology for greater comfort and convenience. Also, increased internet penetration and growing incidences of trespassing are compelling home buyers to adopt smart home technologies despite the fact that they are expensive. Thanks to technological advancements and improving affordability of smart home appliances, home automation is becoming a reality and is now more economically acceptable.
Practical advantages of home automation –
Smart home appliances allow consumers to manage all of home devices from one place, providing optimum convenience. Home automation allow users to keep all the appliances in their homes connected through one interface, and this is a massive step toward the adoption of complete home automation. Practically, in a smart home ecosystem, one just needs one app on their smartphone to access countless functions and devices across the home.
Flexibility for new devices and appliances is another major advantage of home automation. Smart home systems offer considerable flexibility for the integration of new devices and appliances and other technology.
Home automation also offers maximum home security. The integration of security and surveillance features in the smart home network ensures home security reaches an optimum level.
Enhanced energy efficiency is arguably the biggest advantage of home automation. Depending on the usage of smart-home technology, residences can become more energy-efficient with more precise control over the heating and cooling with a programmable smart thermostat that learns your schedule and temperature preferences, and then suggests the best energy efficient settings throughout the day.
Growth drivers for smart home market
Growing awareness about smart home automation is a key growth driver for the smart home market. The awareness about home automation is considerably higher in metros, and the biggest contribution toward generating this awareness is currently being made by construction companies. Increase in disposable income is another factor that has enabled people to consider home automation technologies to make their homes ‘smart’. Since, smart home appliances are capable of being controlled using a smartphone and provide convenient ease of access and use, global foundries, which focus on IoT-based devices, are flocking the smart home market with innovative products.
The rapid growth of home automation or smart homes is because of some major driving forces like stable economic development, rising urbanization, employment opportunities, better standards of living and the growing demand for lifestyle products. People are so much occupied in their life’s that they want technology and gadgets to smoothen their life.
