It’s only been about two years since the term “smart-home” has been invented, but now more than ever has it become common, and even somewhat mainstream for new homes on the market to be labeled as such. But what is it about smart-homes that are so popular with buyers? Will this trend last? My answer is yes. With everything from energy-saving thermostats, cloud-connected home control systems, and proximity based locks, smart technology is not only convenient, but also practical and saves money. With sales in smart homes reaching $7.19 billion in 2013, this number is expected to hit $22.4 billion by 2020.
Recently in the market, we’ve seen the success of solar technology in homes. Because solar technology employs a modern look, yet is also functional and saves money in the future, consumers have been investing in solar panels to a great extent. With that, we seem to be seeing the same trend with smart technology. These products are designed to save money, but also use less energy, and are a modern way to go about using one’s home. With individuals controlling almost everything on their phones, tablets, and computers these days, it’s only right that home technology has been created and expanded to apps. Individuals can control thermostats, refrigerator temperatures, HVAC systems, water heaters, light bulbs, timers, and even laundry systems off their phones, tablets, and computers now. While these are all convenient ways to control a home, they also save consumption and allow individuals to keep an extra dollar in their pocket. With the digital age about us, one would have to think that the smart home trend is going to continue, and that it may even, never end.
Jim Lowenstern 