The latest research report published by Transparency Market Research pertains to the global smart home market for the historical period 2016–2020, and forecast period 2021-2031
A smart home refers to a home, which has a smart home system that connects with the appliances to automate specific tasks and is typically remotely controlled. The user can use a smart home system to program the sprinklers, set and monitor the home security system and cameras, or control appliances such as the refrigerator or air conditioning and heating. Growing adoption of smart homes is expected to boost the market during the forecast period.
The smart home allows the user to have greater control of energy use, all while automating & adjusting temperature, turning on and off lights, opening and closing windows, and adjusting the sprinklers based on the weather
Smart homes offer insights into energy use that can help the user to become more energy-efficient and mindful of ecological factors. The smart home can pinpoint areas to the user where more energy than needed is being used, to cut back the usage in those areas and save money.
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Demand for Reliable Smart Air Purifiers amid COVID-19 Outbreak
Following the outbreak of COVID-19 pandemic, many individuals are flocking to medical stores to purchase disinfectant sprays, masks, and other personal protective equipment (PPE) to fight off the deadly infection. This trend has also triggered the demand for smart air purifiers. However, individuals are pondering whether smart air purifiers are really that effect to neutralize coronavirus particles. Hence, companies are innovating in smart air filters and increasing their R&D activities to substantiate the size of coronavirus particles.
It has been found that coronavirus particles can be neutralized through smart air purifiers, since these particles are relatively much larger than most of the smallest particles known till now. Hence, companies in the smart home market are increasing their focus in HEPA (High Efficiency Particulate Air) filters that are capable of decontaminating coronavirus particles. Even many airline companies use smart air purifiers with HEPA filters to neutralize harmful particulate matter.
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Voice-enabled Devices Under Scrutiny for Data Security Concerns
Amazon and Google are aggressively innovating in their respective voice-enabled devices. However, there is increased awareness about data security concerns as to how these tech giants collect and share their data. Hence, companies in the smart home market are making improvements in devices that can automatically delete recordings of users on a routine basis, thus limiting a user’s access for prior voice commands.
The concept of fun-to-have gadgets for checking the weather, playing music and answering trivia questions is gaining prominence worldwide. In order to enhance user’s experience, companies are increasing efforts to eliminate the need for wake words such as OK Google or Alexa in devices. Such innovative devices are bolstering growth for the smart home market, which is predicted to reach a promising valuation by the end of the forecast period.
Light & Heat Control Preferred Feature in Smart Glass Installations
Apart from innovations in HVAC control systems, smart appliances, and smart speakers, companies in the smart home market are innovating in smart glasses. The surging demand for privacy, energy-efficiency, light & heat control, design innovation, and automated shading is a key reason for boosting the demand for smart glass. Smart glass, also known as electronically switchable glass, opens an array of possibilities for interior designers and architects to control UV radiation, light, and glare.
The use of smart glass is becoming considerably popular in premium smart homes of individuals from high-income groups. Auto thermal heating and cooling as per external weather changes is a preferred feature by most users. Hence, rise in smart glass installations in sunroofs for home balconies and bedroom windows is propelling the growth of the global market for smart homes.
Smart Homes Help in Maximizing Home Security: Key Driver of Global Market
Home security is strengthened when a user incorporates security and surveillance features in the smart home network. For instance, home automation systems can connect motion detectors, surveillance cameras, automated door locks, and other tangible security measures throughout the home so the user can activate them from one mobile device before heading to bed. The user can also choose to receive security alerts on the various devices depending on the time of day an alert goes off, and monitor activities in real-time whether the user is in the house or halfway around the globe.
Smart home systems tend to be highly flexible when it comes to accommodation of new devices & appliances and other technologies. Moreover, the user can probably add to the suite of devices, as it replaces the older ones or discover new technology to look after the indoor and outdoor space. Being able to integrate these technologies seamlessly will make the job of a homeowner much easier, and allow the user to keep upgrading to the latest lifestyle technology.
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