|Smart homes with connected devices make our lives more comfortable and convenient / Photo by: Prasit Rodphan via 123RF|
IoT has truly been transforming the way we live, according to Insider Intelligence, via American business and financial news platform Business Insider. Smart homes with connected devices make our lives more comfortable and convenient. Imagine you’re driving from your office in summer, but instead of turning on the air conditioner when you get home, you use your phone to instruct your thermostat to cool off your house.
Or imagine asking Alexa to tell you about current events while you’re focusing on cooking dinner. Home automation seems to be the future of contemporary homes. Let’s delve into the role of IoT and smart home automation.
Fascinating Statistics On the Smart Home Market
Insider Intelligence projected that the total number of connected devices on the planet will reach 64 billion by 2025, a sharp increase from about 10 billion in 2018. Connected devices include, but are not limited to, all smart appliances, smart home energy equipment, and smart home and security systems. The first and foremost benefit of connected devices is convenience, as they can handle more operations while freeing up the resident to undertake other tasks.
Other than that, smart home IoT devices can help reduce costs and save energy. If we take the above-mentioned example, you’d have a cool apartment as soon as you arrive home from work. You could also leave the air conditioner off when you’re at work, thereby lowering your electricity and saving energy. Smart lights also function the same. However, smart home devices are costlier than non-connected ones. Hence, it’s normal for consumers to “feel the hit in their wallets first.”
|Insider Intelligence projected that the total number of connected devices on the planet will reach 64 billion by 2025, a sharp increase from about 10 billion in 2018 / Photo by: Ivan Kruk via 123RF|
Let’s take LED bulbs as an example. On average, LED bulbs cost $15 unlike $8 non-connected LED bulbs. In the last two years, the cost of connected bubs has declined, making them more affordable to consumers as the prices of smart home IoT devices continue to decrease. The smart home market is evolving, continuing to “establish some true scale,” said Fahri Diner, CEO of Plume Design, as reported by Jeff Baumgartner of LightReading, a telecommunications industry information company.
At the CES 2020, Brad Russell, a research director at market research and consulting firm Parks Associates, cited the company’s new research, saying that 38% of US broadband households owned a connected device—which includes smart home/automation products—at the end of 2019, showing a 19% increase year-over-year. Moreover, about 18% of those households now have a home control system, up 38% year-over-year.
The smart home market is starting to deviate from end-point solutions. Therefore, platforms—driven by software—are evolving into the “brain and nerve center” for smart homes and other forms of IoT products, Russel added. By integrating smart home technologies and IoT, we can expect the IoT industry to grow to more than $3 trillion each year by 2026.
The Advantages of IoT In Smart Homes
IoT can help bolster home security. Margaret Rouse of IoT news site IoT Agenda stated that home automation gives residents peace of mind, enabling them to monitor their homes remotely and countering dangers such as leaving the front door unlocked or forgetting to turn off the coffee maker.
For example, more residents are installing connected alarms and video cameras around the house, wrote Kenneth on Robots.net, a website dedicated to the latest technology trends. These devices safeguard themselves and their valuables from intruders. With smart security cameras, residents can remotely monitor their homes. Further, smart motion sensors can help identify the difference between pets, thieves, visitors, and residents. These sensors can also alert authorities if suspicious behavior is detected.
Devices like smart locks are other common examples of IoT devices used in smart homes. Smart locks, as well as garage-door openers, can be used to grant or deny access to visitors. Smart locks can also when homeowners are near and unlock the doors for them.
But did you know that IoT can also make your home a nicer place? For instance, you can use your IoT device to adjust the ambient temperature, play soothing music, dim or brighten the lights, or help you make a cup of tea (or coffee). There are also smart refrigerators that track expiration dates, create shopping lists, and generate recipes based on the ingredients available on hand.
Smart home IoT devices can also learn and accommodate your preferences, improving efficiency. For instance, your lawn will be watered when needed and with the exact amount of water needed when using a smart irrigation system. This means resources will be used more efficiently, helping you save money.
The Drawbacks of IoT In Smart Homes
Smart home IoT devices are complex and technical in nature. Some consumers may have difficulty toggling the device or will give up out of annoyance. Another issue is home security. According to a 2016 report published by system integration company NTT Data Corp., 80% of US consumers are concerned about their smart data’s security, as cited by Rouse. Also, 73% of them are worried about the privacy of the data shared by smart home devices.
While the smart home market will continue to grow, developers and vendors should try to reduce their products’ complexities. IoT will help automate our homes, making our lives more comfortable. However, issues surrounding security and privacy should be tackled transparently.