Smart Home Technology to Reach 1/3 of Homes by 2020
Each day, more and more aspects of our lives are becoming connected through smart home technology. A smart home is one that is equipped with network-connected products that control, automate and monitor various functions of a house – HVAC control, lighting, security, access, energy management, entertainment, and more – either remotely by a computer or handheld device or a separate system within the home. A true “smart home” utilizes two or more of these systems.
The use of smart home technology is still in its infancy, but with 87 percent of Americans recognizing the value, the smart home market is exploding. From 2015 to 2016, the number of smart homes in North America increased by 56 percent, reaching an estimated 12.7 million. With new technology constantly streaming onto the scene and an increasing awareness of energy savings potential, it is expected that 35 percent of North American households will be using smart home technology by the year 2020.
