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Smart Homes are the latest advancement in home automation. This technology is quickly making a name for itself. Here are a few facts about smart homes that you have never heard of.
In the Beginning
Contrary to popular belief, smart homes have been around for a long time. The first concepts were developed in 1966 to 1967. Two devices were created called the ECHO IV and the Kitchen Computer, but it was never sold to the public. The ECHO IV could turn appliances on or off. It could control a thermostat and even compute shopping lists.
This technology has been developed over many years. The evidence of the time invested into it is only showing now.
A New Millennium
Smart home products were available to the public only at the turn of the millennium. Domestic technologies, home networking devices, and other gadgets were for sale in the early 2000’s. The tech boom started and the smart home industry was born.
A Demand for Voice Control
According to a study done by SafeatLast, 72 percent of Americans with smart home products want voice control capability. It’s one of the growing trends in the smart home industry and you can imagine why. It’s just so much quicker giving quick instructions that typing or pressing buttons right?
This generation is the poster child for the smart home industry. They are adopting this technology at a pace higher than any other generation. 47 percent of Millennials already own smart home products. 70 percent of them are planning on buying more products.
62 percent of American smart homeowners believe security is the top benefit. Smart security products are among the most used smart devices. Analysts say it will generate more than $100 billion in 2020.
Smart homes are designed to connect with other smart devices. One of the most used smart devices is smartphones. It’s no wonder then that 76 percent of smart home products are controlled by smartphones. Samsung is capitalizing on this. They are the industry leaders with $213 billion in revenue in over 104 countries. They are one of the few companies to sell both smartphones and home appliances. They are certainly cashing in on the synergy.
81 percent of people who are looking to buy houses would rather buy one with smart home products pre-installed. 68 percent of Americans believe smart homes will be as common as smartphones within the next ten years.
45 percent of American smart homeowners save an average of $98,30 per month. That adds up to more than a thousand dollars per year. Products like smart thermostats can save 20 percent of your yearly warming and cooling costs. Smart homes aren’t only convenient. It can help your budget as well.
Internet of Things
Smart Homes utilize a technology called the Internet of Things (IoT). All kinds of devices run on IoT. Appliances, smartphones, computers, and even cars. Analysts believe IoT will drive revenue exceeding $300 billion in the year 2020.
Internet on Wheels
Cars aren’t exactly homes. But smart home technology is changing the way people interact with their vehicles. 23 million cars were connected to the internet in 2014. Analysts estimate 152 million cars to be connected to the internet in 2020.
America is great again.
Well, at least in the smart home industry. The US spent $19,827 billion on smart home technology. That is the highest expenditure in the world. It boasts the highest number of users per capita as well. 32 percent of Americans own smart home products. 7.5 percent of homes have these products installed. That number is expected to grow to 19.5 percent by 2022.
The Top Performers
Smart locks and smart thermostats are the joint most used products. Smart locks serve a great security purpose. You can operate it remotely through an app on your smartphone. Grant access to people you trust without even being at home. Smart thermostats have great potential. It is convenient to use and it will help save on your utility bills.
Don’t say you didn’t know. There are much more to smart homes than what meets the eye. Get your own setup to enjoy the sweet benefits. This groundbreaking technology is changing the world and you can be part of it!