Smart Homes’ Market is Promising
What are smart homes?
Smart homes enjoy a large extent of electrical devices in the residential environment to provide the residents with more comfort and safety. These homes allow you to control everything in the house, from heating to air conditioning, entertainment, and security. With the technology embedded in smart homes, you enjoy the comforts of automated homes and save more energy and money on utility bills.
What are the features of smart homes?
Smart air conditioning
With the smart panels mounted on the walls and installed on your smartphones, you can check the state of your air conditioning units at home. You can see the current temperature of your rooms and change the settings remotely if necessary. Moreover, the applications on your phone allow you to turn the air conditioning on a few minutes before you arrive home. With this technology, you can step into a pleasant home with your favorite temperature after a hard day’s work.
Smart security
The smart security systems installed on your smart homes have several features. First, you can check if all your doors are open or closed in your bed. So, you won’t have to walk around the house before bedtime to check everything. Second, you can check on the security cameras remotely on your mobile phone to see if everything is ok. Third, you can enter your security code on the wall panel near your door or simply use your fingerprint on your phone to open the door and disable the alarm when you arrive home.
Home entertainment
Major technology companies such as Apple and Microsoft have developed smart speakers that can fit in with your smart home perfectly. You can set your speakers to start playing your favorite playlist as soon as you arrive home. What’s more, you can change the music or its volume from your phone or by giving it voice commands.
Smart home appliances
You can also control your home appliances remotely in your smart home. Your coffee maker can get orders from you remotely to prepare the coffee before you come down for breakfast. You can order the dishwasher to start washing the dishes so when you get home, you won’t have to deal with dirty dishes.
Smart lighting
Finally, you can control all the lights inside and outside with a single touch on your phone. You can set the intensity of the light and its color on your smart panel. You can also choose to turn on and off the hidden lamps on the stairs and the outdoor panel. Additionally, you can set your lights to turn on as soon as you enter the security code. With this switch, you can make sure you enter a well-lit, warm home every night.
Which companies offer smart home designs?
ABB Ltd. ADR
ABB’s headquarters is located in Zurich, Switzerland. However, this company has offices all over the world. This company’s primary focus is designing and selling electrical and automated systems to be used in residential homes. These systems use state-of-the-art technology to manage the household in the best possible way. The systems designed by ABB have energy conservation and sustainability in mind, so you can make sure this company helps you save the planet as well as money on utility bills.
KB Home Projekt (KBH)
KB Home is a company based in California, USA but has offices all over the United States. This company’s primary role is to design and build homes that enjoy the latest technology. The smart homes designed by KB Home use cutting edge technology to provide the residents with optimum physical and mental well-being. KB Home collaborates with Delos DARWIN Home Wellness Intelligence Network to control the air, light, water, and sleep environment in your home.
PDL by Schneider Electric (SA)
The homes designed by PDL are entirely flexible and tailored to your personal taste and requirements. These homes are completely smart, too, and you can control the lights, temperatures, security, and entertainment with the smart panel or software. There is a digital tool on the PDL website that allows you to choose your style, the wall paint, and the switches.
How large is the market for smart homes?
One of the most significant drawbacks of smart homes so far has been low security. Because most of the systems are controlled remotely, the houses were at risk of getting hacked and robbed. However, with the advent of technology and security systems, this risk is getting less and less significant. Therefore, the market for smart homes is bound to grow substantially over the next few years. In fact, revenue is the smart home market is expected to reach over $64 billion by the end of 2020. This amount is predicted to reach $246.42 billion in the next five years.
As for individual companies, Schneider Electric (SE) shares were sold for €116.15 today. This price has experienced a 23% increase over the past year. It is predicted to grow even more in the next five years. One of the other companies that are expected to grow substantially is KB Home. This company had a revenue of more than $4.5 billion last year, and its shares are currently sold for $34.19.
