A smart home can be described as a natural extension of the trend which has seen automation gradually invade all walks of human life. In a smart house, various systems like lighting, security, ventilation,., can either be preprogrammed or altered from a remote location through connected devices.
Smarthomes use other concepts like Internet of Things (IoT) as well as WiFi to constantly keep track of changes and transmit relevant information to a user. The home automation hub provides various benefits remote monitoring and control, efficient use of home resources and the creation of a unified control base.
Thus, the Smart Homes Market is in a great position to register a strong amount of growth during the forecast period of 2017-2022.
Home automation companies consider the prime growth drivers to be a few factors like: growing residential demand for advanced security and monitoring systems; more awareness among the public regarding energy conservation and its effects on climate change; the superior experience as well as convenience provided by intelligent home systems when it comes to controlling various tools at home; and a gradual transition towards automatic control of home functions rather than operating them manually in an effort to save time as well as effort.
Currently, the Smart Homes Market is being dominated by the demand emanating from North America. The various initiatives and subsidies provided by the government have encouraged the people in the region to adopt various practices which align with smart house technology.
Energy conservation, integration with a smart grid, control of water and gas are some of the areas which have received a lot of focus so far. Meanwhile, Asia-Pacific is expected to be a key future demand driver as the emerging countries located in the region look to adopt the most advanced technology in an effort to battle climate change as well as to promote sustainable living.