The smart home revolution is well on its way. The ability to automate and control various facets of your home environment, and in particular your heat and air conditioning system, is already quite popular in the United States and around the world, and is only poised for more growth. One recent report by the research firm Markets and Markets found that the industry, which was worth $5.77 billion in 2013, could soar to $12.81 billion by 2020. Read on to learn more about smart home technology and what it means for you.
Smart Homes Across America
North America is and will remain the largest market for smart systems.
“The increasing preference of consumers for convenience, connectivity, safety & security, and demand for energy efficient and green product solutions are expected to drive the growth of this market,” the research report states. “Energy management and HVAC automation systems too are expected to see a similar growth phase.”
The growth in the market comes in response to consumer demand for information and control over their home systems.
“We live in the information age, and we, as individuals, have come to expect limitless data at our fingertips,” Cory Vanderpool, business development director for Magnum Energy Solutions, said to ACHR News. “Why shouldn’t we be able to receive and view information about our homes? And, with that information, we’ll be able to make smarter decisions about our home energy consumption.”
From Heat and Air Conditioning to Your Toilet
The vanguard of smart home technology is in the heat and air conditioning system, where smart thermostats give the homeowner unprecedented information and control over their equipment, while also searching for efficiencies and savings automatically. From there, smart technology can also encompass systems like home security, garage door openers, lighting, entertainment systems and more. Currently, appliances like refrigerators, stoves and even toilets are being brought online in what is known as the “Internet of Things.”
As consumer awareness grows about the wealth of smart automation options, and the technology continues to improve, there will be more opportunities for equipment manufacturers as well as technicians to sell, install and maintain these systems. In turn, homeowners will enjoy enhanced control over their homes, gain the ability to analyze how their habits and behaviors affect their energy consumption, and contribute to a cleaner environment through increased efficiency.
Don't Get Left Behind
There are a number of advantages to smart home technology, but perhaps the most relevant to consumers is the ability to increase their energy efficiency and save money on heat and air conditioning bills. When you decide it's time to upgrade your residence to an interactive smart home, contact a heat and air conditioning expert to help you get started.