An Era of Smart Home Devices: 1.3 Billion Smart Home Devices by 2022

Posted by ryan on October 11th, 2019

Technology is moving at a rapid and exciting pace virtually in almost every aspect of our lives, and our house is no exception to it. With new devices and technologies coming to the fore, technology is making your house smarter, safer, and more comfortable. Thus, making houses smarter and more intuitive every year.

In 2018, the smart home market was valued at USD 76.62 billion and is expected to reach USD 151.38 billion by 2024, at a CAGR of 12.02% during the forecast period. The major market share of this smart product segment can be attributed to the high penetration rate of products like smart meters and smoke.

What are 2019 Home Security Trends?

When it comes to the upcoming smart home devices, 2020 will not at all disappoint you. So let us take a look at some of the latest smart home trends that can jazz up your living experience in your house-

Enhanced IoT Technology

The Internet of Things (IoT), a connected network of devices and appliances, has been amazingly influential in the evolution and advancements of the smart home technology. The Internet of Things will continue to expand and grow in 2019.

So, it is time to keep an eye on more connected devices than ever, including smart refrigerators, washing machines and dryers, and even innovation in crockpots. Remember, your house is a prime location for developing products that can apparently enhance our lives to a considerable extent. For instance, a smart fridge is a great example.

What a Smart Home should do?

Connecting a particular device to the Internet makes the device smart, but a real smart device should:

Use the wireless communication

Collate and learn from data without any extra user input

Be compatible with IoT and various other smart products

Therefore, connecting an appliance to the Internet might seem like the next step forward, but in reality it may prove to be more gimmick than gadget.

The smart home devices global market has witnessed a significant growth in the last 5 years and the figures related to smart technology industry is really convincing. So whether you want to tech up or upgrade your home with a smart thermostat, coffee machine, security camera, sandwich maker or something else, smart home devices can enhance the quality of your life.