3 Trends Driving The Smart Home

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We have all seen how the Covid-19 pandemic has changed the way people feel about their home. This was seen in home improvement when homeowners realized they needed more functionality than space.

Homeowners increasingly want to lead a smarter and simpler lifestyle with more connectivity and control from their mobile devices. We have seen this happen in the smart home industry, with the share of US households expected to grow to 43% by 2021.

Convenience and control aren't the only things that define the home improvement industry. Millennials, the largest generation in the country, are the key influencers in the home shopper market, and their values move the needle. With that in mind, here are three trends shaping the future of the smart home and home security industry.

Changing consumer perspectives on home security and the role of professional integration

A recent study by COGNITIONS Smart Data for Green Builder Media found that one of millennials' top preferences is a home that promotes overall comfort and well-being. And they see smart home technology - leak detectors, air quality monitors, home security cameras, and voice-activated devices - as an important part of improving overall home security.

Overall, consumer sentiment has improved as they seek the convenience and comfort of home network cameras. For example, a recent study by Parks Associates found that the US average home broadband currently has 3.4 network cameras, a significant increase from 2018. In fact, analysts are expecting an even greater increase in the growth rate. compound annual (CAGR) of 15.7% for smart home security cameras worldwide by 2027.

With the increased focus on cameras in general, professional security retailers have the opportunity to demonstrate the best way to integrate cameras and other security solutions into a professionally installed and monitored system. This is where the marketer's experience really shines - they demonstrate the great benefits of a connected system designed to combine cameras with other air / water / energy sensors and functionality for a comfortable and safe home.

Touch screen, touch camera technology is driving the industry forward.

Owners' expectations and willingness to invest are increasing; Approximately 250 million network cameras, video calls and smart speakers / displays will be sold in the United States between 2022 and 2024. The two most important technologies that will have the greatest impact on the market in terms of growing demand are display technologies (e.g. e.g. mobile apps, sensor companies, etc.) and cameras.

Touchscreen panels are getting better, with sharper image quality and more intuitive touch response. But it's important to create experiences and journeys that take advantage of these views and do so in a way that is useful for both marketers and customers.

We are launching cameras as an industry. Cameras are the perfect sensor and we can use more data to help our customers. In the minds of home owners they are becoming synonymous with security and there are opportunities for new growth and expansion of the security systems and smart home market in general.

New trend: sustainable home + solutions

This recent trend is driven by several factors, including greater convenience and savings from reduced energy consumption.

Millennials are now the biggest players in the real estate market. They spend more on new homes than any other generation, and most millennials (90%) are making at least an effort to reduce their environmental impact by living a more sustainable life. In the long run, millennials are thinking about improving their homes and making them more environmentally friendly.

As we think about future projects and help simplify the smart home, CSA Matter specifications come to the fore: standardizing device placement and the homeowner's ongoing work. For example, the standard can create compelling use cases in the most important contexts by connecting various sensors and implementing video analytics and services. For example, if a window is left open and the system detects that you are off, will it keep your home cool in bad weather?

Result

Over the past couple of years, the importance of health has increased from the individual to the local level, peaking among the largest generation of homebuyers and technology users in America. These trends show us that smart home devices should serve as an additional tool for greater resilience, personal safety, and a better home for people, pets, and the things we love.

As the modern home security industry evolves and adds new value-added features and services to create new value for consumers, we are excited to see what the future holds for home security and connected home and that suppliers they will always strive to provide. Increased customer expectations.

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