In today's digital age, more homes are relying on technology to make their homes a little smarter. This guide will go over the ten interesting facts that you need to know about it. We can turn on lights, turn up the volume on the TV, and find out about our morning commute through a personal assistant.
We can also use smart home technology to make sure everything is OK when we're not home. If you want to learn more about smart home technologies, these ten facts will be fun to learn. Let's get started.
We can make sure our homes are secure
With Ring and other security systems growing in popularity, many smart homes are armed with home security with cameras, sensors, and more. Plus, we're notified of any occurrences via our smart devices. If you are looking for ideas on how to make your home secure through smart technology, Smith Thompson support can help.
Home security is important. Because fires, floods, even break ins can happen when we're not home. Isn't it time that you took the steps to protect your home? Smart technology can help out with that and setting up the right security system may be the next step you take.
Many homebuyers are willing to buy it
According to a report from The Washington Post, nearly two-thirds of American homeowners are willing to purchase smart home technology. One of the reasons is that this can make things a lot simpler. You can turn the lights on using the sound of your voice.
You can even do so with one touch of a button on an app no matter where you are. They are willing to spend money on things that would make life easier for them.
The market has grown
Between 2017 and 2020, the smart home market has grown. Its projected growth was slated to be around 63 percent. In terms of value, it will be worth close to $540 billion by 2030.
This will be due to the fact that demand will be growing and the supply will eventually be met. Many people are eschewing classic technology and making their homes smarter. A lot of tasks may be automated, saving people time and even money.
Not only that, smart home technology could even save a ton of waste (such as wasting water). If automatic sinks are a thing in public bathrooms, imagine what it would be like in residential bathrooms.
Smart lights are one of the most popular items
Of the many smart home items on the market, smart lights are among the most popular. The reason for this is that it provides them with more security. Plus, it also helps cut down on electricity costs.
Again, the idea of reducing waste (be it water or electricity) is another goal of implementing smart home technology. It would be better to pay less in terms of the light bill rather than try and keep up. Why worry about expensive light bills when smart technology can save you money and energy at the same time?
More would buy if smart home technology was affordable
Smart home technology doesn't come cheap. The price may even bring down the demand a bit because more people may not afford it. If it was affordable in price, much of the demand would be met.
Of course, not everyone can afford the top of the line smart home technology. Yet, they can find something that will give them adequate quality and functionalities without breaking the bank. It's possible to purchase smart home technology on a budget.
Smart heating and cooling saves you money
In the winter, we need to keep warm. Likewise, we need to stay cool in the summer. Enter smart home technology that will make climate control a lot easier.
On top of that, you can save a ton on your heating and cooling bill throughout the year. You'll even reduce your overall energy use by half. Saving energy and money go hand in hand.
With all that money saved, think about how much more money you can put into making your home smarter. Speaking of which, this segues into our next interesting fact.
People will spend hundreds, even thousands on smart home technology
On average, people will spend anywhere from $900 to $3300 on smart home technology just to make their homes smarter. This comes as no surprise as the latest technology won't come at a cheap price. The value it provides and the overall quality makes it worth every penny.
The reality is that you'll be spending a good amount of money on making your home smarter. In the end, you're going to wind up saving more money once everything is installed. You'll be using less energy which means a less expensive bill.
There are nearly 200 million smart homes worldwide
That is not a typo. Around the world, 200 million homes have smart home technology. That number will grow in the next decade.
The United States, Canada, and Australia are the three leading countries in terms of technology being used to make their homes smarter. 40 million of those smart homes are in the United States alone. China is emerging as one of the fastest growing countries that will be adopting smart home technology as their market is fast growing.
Amazon is leading the way
Despite some of its challenges, Amazon still holds strong as one of the largest providers of smart home technology. Behind them is Google. Look for the two to duke it out throughout the rest of the decade in terms of who's getting a market share in smart speakers among other devices.
Home insurance rates are reduced
Smart home technology (specifically home security) gave homeowners a break in terms of homeowner insurance rates. You may notice some changes in the amount of money you spend on your policy. The average American homeowner can save as much as $200 per year on their insurance rates.