New smart home products are expected to take the home’s most basic functions—such as lighting, heat, and security—and make them more personal and connected.
The biggest new category is thermostats, which could allow smart thermostat systems to be connected to devices, such as refrigerators, to keep the home cool.
That could mean smarter thermostatic control and more efficient energy use, said Daniel Auerbach, a senior vice president at tech-focused market research firm eMarketer.
Auerbaum said the industry is still trying to define what the thermostators should be capable of, but said thermostated home systems could soon have an advantage over conventional gas and electric devices that require expensive batteries.
In the future, thermostate systems could also be used in other kinds of smart home systems, such to detect a user’s heartbeat, for example.
Some of the big new products include the SmartCamo smart thermoregulation system, which plugs into an existing light fixture, allowing the user to control the temperature from a smartphone.
That system, available in the U.S. for $99, can monitor temperature, automatically adjust the temperature and set the thermos.
For more: www.smartcamo.com/home/thermostats-how-smart-home-devices-could-disrupt-the-living-room SmartCAMP smart thermos, also available in Australia, costs $79.99.
SmartCAMO has been tested and approved in the United States and Europe.
Smart Home Technology for Business: A New Look at Smart Home Technology in 2017, by the American Enterprise Institute, predicts a $1.4 trillion market in smart home technologies by 2025.
The report says the U, S. and Europe will see more than half of this market in the next 10 years, with China the most significant market, with nearly one-third of the market.
The report predicts that the U: will grow to almost $1 trillion in the 2025 market. Europe: Will grow to nearly $2 trillion.
The U.K. and Germany are expected the biggest growth markets.
The main areas of growth in the market include: 1.
Smart home systems.
Home energy management.
The report, which was released by the AEI on Monday, also noted that smart home solutions could have a significant impact on the overall economy.
“The vast majority of smart-home products and services are not designed to replace traditional hardware or software.
Instead, they rely on the underlying smart hardware and software to deliver features that can improve productivity, reduce energy consumption, and increase security,” it said.
In addition, smart home product companies will need to become more transparent about their technology and sell their products in a way that makes them more appealing to consumers, the report said.
“Smart home products can offer the convenience of a traditional home automation system and the ease of remote control of appliances and lighting systems, while improving the user experience for those who want to connect to and control their home through smart technology,” it added.
As the industry matures, there will be new players entering the market, including smart home platforms like SmartThings, which is working on home automation products, and the upcoming HomeKit, a platform that will allow owners of smart devices to create their own homes and control them remotely.
If the smart home market is to grow, smart devices need to make the leap to becoming more relevant to the larger economy, the AEIA report said, but also that smart devices will have to be able to differentiate themselves from each other.
One area of opportunity for smart home companies is the development of smart thermonuclear devices, which can harness the energy of large, powerful nuclear reactors to power their devices.
The AEI said thermonuclei could also replace batteries as energy storage, making smart thermometers and other smart home thermostattics more energy efficient and environmentally friendly.