Home Is Where Intelligence Is: Smart Homes
CIO Review|May 2019
Home Is Where Intelligence Is: Smart Homes

Pundits have been talking about the potential of Smart Homes for years.

Sanjay Gupta

Thanks to increasingly pervasive high-6speed internet penetration and the emergence of desirable apps like security, heating and major appliances, potential is finally tip ping into reality.

Once merely a figment of our imagination, devices like the Roomba, Echo, NFC-labeled recipe for microwaves, Nest, Ecobee Thermostat, Siri and more have made their way into our homes, adding convenience to our lives. What’s next?

As the home automation market continues to boom, the overall smart home market is expected to grow from USD 76.6 billion in 2018 to USD 151.4 billion by 2024. The growth of the smart home market is driven by various factors, such as a large base of internet users and increased adoption of smart devices; rise in the awareness of fitness and healthy lifestyles owning to the high disposable income in developing economies; high importance of home monitoring from remote locations; rise in the need for energy- saving and low carbon emission solutions; cost reduction measures enabled by smart homes; rapid proliferation of smartphones and smart gadgets; existence of market players focusing on expanding their smart home product portfolios; and widespread concern about safety, security, and convenience.

With that being said, here are three areas where the home will get smarter in the coming years.

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May 2019