Smart home technology is becoming increasingly mainstream as more people seek to manage various aspects of their lives through apps and smart devices. As a result, there is a growing expectation that homes should also benefit from these advancements.
The smart home market has seen significant growth, with revenue projections of $28 billion for 2021, expected to reach $46 billion by 2025, according to Statista.
TechNewsWorld consulted experts in the field of home automation to understand the factors driving the popularity and evolution of smart home technologies.
Changing Home Dynamics
Roger Emmer, Senior Director of Product Marketing at Vivint, shared with TechNewsWorld that smart home technology was already gaining traction before the pandemic. However, the onset of lockdowns and stay-at-home orders has amplified the connection people feel with their homes. “Our homes have become a refuge from external threats, and this has led many to seek smart home solutions to enhance their living environment,” Emmer noted.
The pandemic has shifted people’s perception of their homes, leading to increased interest in smart technologies for better security, convenience, and energy efficiency. Chris Carney, CEO of Abode, observed that as people spent more time at home, they became more invested in upgrading their living spaces. “This increased focus on home improvement has driven up sales of smart home solutions during the pandemic,” Carney explained.
Focus on Security
Security systems have been a core component of smart home technology since its inception. According to Carney, there has been a notable increase in the adoption of smart home security systems. “Consumers are increasingly valuing home security and are relying on smart systems to provide peace of mind,” he said. Advances in technology, including lower costs, user-friendly interfaces, and enhanced features, are contributing to this trend.
Modern smart security devices offer real-time surveillance, two-way communication, and integration with voice assistants, making them more appealing to consumers looking to consolidate their devices into a single network.
DIY Installation Trends
The rise of DIY smart home technology has been particularly pronounced during the Covid-19 pandemic. Amy Nagy from SimpliSafe noted that many people preferred installing smart systems themselves to avoid potential exposure from professional installers. “There has been a shift towards more consumers feeling confident in their ability to handle their own installations,” Nagy said.
Environmental Benefits
Smart home technologies also play a significant role in managing the home environment, including energy usage. Verena Grill-Klattenhoff from tado° highlighted how smart tech can reduce time spent on household chores and enhance comfort. “Smart home solutions make homes safer, more energy-efficient, and cost-effective. For those with mobility or health issues, voice controls can simplify daily tasks,” she explained.
Lifestyle and Convenience
For many, smart home technologies are not just about convenience but also about enhancing their lifestyle. Grill-Klattenhoff pointed out that features like robot vacuums, smart locks, and video doorbells contribute to a more seamless and enjoyable living experience.
Multifamily Residences
Smart home technology is also making its way into multifamily dwellings. Steve van Till, CEO of Brivo, noted that technologies like mobile credentials, smart locks, and remote thermostats are becoming valuable tools for both residents and property managers. “Smart home tech is increasingly seen as a necessity for attracting new tenants and managing properties efficiently,” van Till said.
Future Prospects
The future of smart homes looks promising, with advancements expected to continue. Adam Smithline from Wayzn mentioned a shift from novelty items to more practical solutions such as smart ovens and door automation. “Smart homes will integrate more AI and advanced features, improving functionality and ease of use,” said Andrew Glickman from Jabil. “Connectivity and human-machine interfaces are advancing, making smart home products more effective and affordable.”
In summary, the smart home industry is evolving rapidly, driven by increased consumer demand and technological advancements. The future promises even more integrated and intelligent solutions for managing and enhancing our living spaces.