“We shape our homes and then our homes shape us – Winston Churchill”
Overview
OVERVIEW
We no longer live in houses, we are living a lifestyle. Our houses have seen timely technical developments since we have lived in them. Appliances like refrigerators, microwave ovens, etc in our homes have been evolving due to the constant technological change. These technological evolutions have enhanced the day-to-day living experience of homeowners. The smart home is one such comfort that is taking the world by storm.
According to the Digital Market Outlook, the revenue of the Smart Home market in the World is expected to be 182.442,7 million U.S. dollars in 2025
Our homes are no longer just a place to rest and store one’s possessions. It has evolved in a futuristic way, making our lives far simpler and more convenient. Spaces such as the living room, study, bedroom, kitchen, and bathroom are incomplete without interior tech elements. Innovative technologies like sensors, AIoT, automation, robotics and 5G are reconfiguring our living and office spaces. Fostering these technologies has also resulted in the acceleration of affordable smart home devices.
According to a research report, the smart home device market was valued at US$55 billion in 2016 and is expected to grow to US$174 billion by 2025.
However, smart devices used a common hub to send information to home gadgets, causing the adoption of smart homes/smart products slow. The incorporation of wireless mechanization and internet connectivity has made remote-controlled devices increasingly popular, including lighting, temperature control, and security. As smart devices adoption is increasing, it is likely to increase the demand for internet users as they are both interconnected to each other.
The smart homes devices market is expected to reach $123.36 billion in 2025 at a CAGR of 19.6%
The smart homes market is growing at a rapid pace in India. The need for convenience and comfortable daily living with significant energy savings has fuelled the growth of smart homes in Indian sub-urban and rural areas.
Revenue in India for the Smart Home market is pegged at US$870m and the average revenue per installed Smart Home is US$97.59 According to a recent Statista report.
Architects and interior designers play a critical role in successfully recognizing, evaluating, and exploring the intersection of tech and design to revive, automate and help smarten our everyday living spaces. This diligent technological trajectory of the Smart Home market poses the question, Are India’s architects tech-ready for the booming Home Automation demand?. As smart homes become increasingly popular, they need to keep up with the latest trends or be left behind. An increasingly digital world means a need to reimagine the realm of the possible in the field of design.
