What is the smart home industry?
Smart home industry is the combination of home equipment such as doorbell camera, outdoor camera, ping camera, smart locks, element thermostat, and other electronic devices which are controlled through remote with the help of computer or smartphone. Smart home technology can be the next innovation along having a cultural impact as it will help in time and energy saving appliances which changed the entire world.
In addition, it has a great significance in terms of innovative products, safety enhancement, reduction of energy consumption and security benefits among the people of the United States.
On the other hand, smart home industry is acquiring data and experience for educating the benefits of smart home technology to their valuable consumers.
There has been an increase in the use of home automation technology in the U.S in recent years. The digital revolution is also known to have helped in fueling the exciting new phases with companies in the automation industry and this offers consumers the new and improved smart home technologies which are interconnected and in an easy to control environment.
According to research, over 45 million smart home devices will be installed in the U.S homes before the end of 2018 and this will make the average revenue per home around $490.
Some of the key barriers to mass adoption of smart home industry are cost, security threats, the technological fragmentation that is present in the smart home industry.