Smart devices can be found in almost every room of a modern house. Living rooms can play host to speakers, televisions, and hubs such as the Amazon Echo. Bedrooms may have smart smoke detectors, indoor smartbulbs, and window shades. The kitchen is a hotspot for smart devices such as refrigerators, dishwashers, and ovens. Even bathrooms are now beginning to be equipped with smart mirrors and showerheads.
All of these devices help make up the 175 million smart homes worldwide. This number will only continue to grow as younger generations reach home buying age. Millennials and Gen Z are especially receptive to smart technology. 80% of respondents in these generations say that adopting smart home technology is a huge positive, compared to 69% of baby boomers. They are especially drawn to the cost effectiveness of smart devices, along with the additional security they can provide for a home.
Home devices are only expected to become faster, less expensive, and more streamlined in the future. By 2026, the market for this technology will grow to $200 billion, meaning there is lots of growth for this industry. Touchless technology, high-speed connections, and greater privacy protections are all on the horizon for smart homes.
