Created on Thursday 19th April, 2018.
The evolution of the smart home is growing at a rapid pace with innovation and new products coming to market all the time. The last 5 years has seen many reports all predicting the growth of the sector, how it will impact consumers and change the way that we live. All this is important to understand for our own everyday living but also to understand where the opportunities lie, the new technology that you need to become familiar with and what demands will be put on the industry.
Shifts in consumer behaviour change needs and demands and the market is shifting from a luxury market into a mainstream market providing opportunities for our networks. With prices coming down and more common platforms from which multi-devices can operate – the market will continue to grow and create opportunities. The development of wireless, open and standard technologies is enabling the platform for ease of installation, accessibility and demand.
Telecoms and utility companies are entering the smart home market which is creating more competition and taking us on a journey of pricing becoming lower and products and services becoming more accessible.
Applications for the smart home are expanding to include heating, air conditioning, lighting, entertainment and security with the largest revenue area currently being safety and security.
The summary is short, the smart home is not slowing down and if anything it will create more and more opportunities for installation and supply if you keep up technology and developments.