Tuesday, December 20, 2016

Home Automation - Big Business Opportunity in 2017

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.

Building Jarvis

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

Connectivity is rapidly becoming a reality with the development of smart technologies allowing devices to connect and talk with one another.  Your smart phone can connect with home appliances like security cameras, your LED tv, your refrigerator etc . This gives real boost to home automation as you can control everything from your smart phone. Also with increasing use of wearable devices, this is even becoming more easy to connect and communicate with other devices. With the innovation in technologies these devices are getting affordable. 

Increased Network Infrastructure

In metro cities you can easily find a open network anywhere. Also with increase in mobile networks and its speed, most of the users are now able to communicate from anywhere. This is still growing more and will boost home automation. You can control your home even if you are far away from it.

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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