Recently I read Facebook post of Mark Zuckerberg where he mentioned his personal challenge for 2016 was to build home automation. So he is working on Jarvis. You can read it at following link.
Well so if Facebook founder is working on Home automation that means there is really some interesting about it. Home automation is today a growing market globally, bringing new and exciting opportunities for technology companies. According to industry experts, the market will be driven by the trend towards energy efficient, safe, luxurious and convenient homes or smart homes. According to a report published by MarketsandMarkets, ‘APAC Smart Homes Market–By Products, Services and Geography – Analysis & Forecast (2013-2020),’ the total market for smart homes in the Asia Pacific region will be worth US$9.28 billion by 2020. With increasing availability of smart devices, wearable devices and connected devices, the demand of smart home is increasing. Consumers are really looking for automation in day to day activities in home and that creates big business opportunity in field of home automation. Google also acquired Next lab. Nest Labs is a home automation producer of programmable, self-learning, sensor-driven, Wi-Fi-enabled thermostats, smoke detectors, and other security systems. This acquisition shows Google's interest in smart home sector.
The growth factors of Home Automation
Vast availability of connected consumer electronics
Increased Network Infrastructure
Increasing demand for new services in the home
Over the years, the evolving needs of home buyers have translated into a whole new set of consumer preferences and expectations from real estate developers. What was earlier considered luxury has now become the standard. Not to forget the rise of a financially powerful consumer class that demands a standard of living and luxury at par with the western world.
Challenges in Home Automation
Well, this is a growing market but there are still many challenges.
- Cyber security concerns
- Lack of interoperability
- Unreliable performance of gadgets
- Perfect Implementation of Artificial Intelligence
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