The smart home market is one of the fastest growing markets. Recent reports estimate it will reach approximately USD 53.45billion in 2022.
Energy-saving and security are two of the main priorities for property owners. So it’s easy to see why the industry’s promise to make things smarter, safer, and more efficient gets homeowners excited.
Driven by technology, the marketplace is constantly transforming and upgrading itself. So what can we expect to see in 2017?
Keep on reading to find out.
7 Strong Predictions for The Smart Home Marketplace
1. There Will Be an Increased Concern Towards What the Customer Wants and Needs.
Homeowners are always looking for new features that make their lives safer, easier and help them save both time and money.
They want products that leverage existing technology’s capabilities. But they also want them to meet their demands and anticipation.
How do consumers expect technology to work for them? It’s an essential question which providers will try to answer in 2017 for a different, more customer-centric approach.
Therefore, we can expect to see certain pricing adjustments and security improvements to lower the risk of cyber-attacks, as well as a greater interest to educate consumers about the benefits of using smart solutions.
2. A Greater Number of Connected Devices that Work Together Automatically
Homeowners seem to be moving away from the stand-alone device trend. Instead, they want separate devices that can collaborate and perform multiple functions.
This preference for a complete smart home system made of multiple pieces will surely impact the industry in 2017.
Smart devices such as smart locks and lights, CCTV cameras and appliances that can all communicate with one another via the Internet will be widespread. By 2020, IoT devices will account for 24 billion.
3. The Demand for Professional Service Providers Will Get a Boost
Various new devices are joining the smart home bandwagon each year. So the need for professional services is also likely to increase. More homeowners are expected to turn to licensed experts who can help them not only install but also monitor the new technology.
4. AI-based Bots Will Transition into Mainstream
Artificial intelligence will have a significant influence on the market in 2017. And this year’s CES edition was a clear indicator.
AI-drive butler bots such LG’s Hub Robot, Mayfield Robotics’ Kuri, or Ubtech’s Lynx stole the spotlight with their friendly interfaces. Their promise to take over tedious tasks to help owners run their homes is hard to overlook.
Moving forward, intelligent personal assistants are likely to become more affordable, and thus more common.
5. Echo by Amazon is likely to dominate the AI market.
Amazon’s Echo shows no signs of slowing down. With more than five million units sold since its release in 2014, the smart speaker is without a doubt a top selling product capable of:
- voice interaction,
- music playback,
- making to-do lists,
- streaming podcasts,
- and providing weather, traffic and other real-time information.
However, the device’s biggest advantage moving forward is its ability to control several smart devices. It does so by using itself as a home automation hub.
In other words, it can act as a link between multiple products that might not otherwise be able to efficiently work together.
6. Smart Security Systems Aren’t Going Anywhere
Smart home systems including smart locks, CCTV cameras, alarms will continue to grow in popularity. Through these systems, owners are able to remotely control the devices via an app, and monitor they homes for increased safety.
So it’s easy to predict that we’ll be seeing more of them in 2017.
7. Cameras Will Take Center Stage
Again, judging by this year’s CES edition, home surveillance cameras will drive big business in 2017. The focus is likely to be around:
- Facial recognition. This technology uses human face as a key to security, so it has a massive potential in security.
- 360-degree viewing. Provides a new level of security by capturing panaromic views of your home and its surroundings.
- and security motion detection. Offer an additional layer of protection by detecting movement in an area and alerting owners in case of a threat.
One More Thing before You Head Out
For owners looking into the implementation of smart home solutions, the future holds exciting new opportunities. Now you know more about the trends that will shape the industry in 2017.