Global Smart Home Market to Benefit from Emerging Smart Home Development Programs

Thanks to technological advancements, smart homes are able to break the barriers of traditional homes. Making residential properties ‘smart’ is a rising trend across the globe. This trend has gone far ahead from single-button security systems to observing and controlling the home from anywhere. Decor-friendly gadgets, wireless power controls, automated door locks, and other advanced technologies are building more demand for smart homes. The global market for smart homes is predicted to progress at a considerable rate, predicts a new report added to the database of MarketResearchReports.biz.

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The report, titled “The Smart Home: A Growing Fifth-Play Opportunity For Operators,” states that the market will grow exponentially in the years to come and will attract many service providers, technology giants, device makers, home improvement companies, startups, and telecom network operators. Growing government initiatives and funding towards home development are also expected to propel the global market for smart homes. While the technology is consistently improving, its adoption is increasing among device makers and home improvement companies. This is also expected to benefit the market for smart homes.

The report highlights key factors expected to hamper the growth of the smart homes. The high cost of new home improvement equipment and maintenance charges are the primary concerns to home automation. Stringent government rules are expected to restrict the entry of new home automation designers, thus this will hamper the growth of the global smart home market.

However, many changing trends are predicted to benefit the market for smart homes. Partnerships with organizations from various industries will ensure easy operation of the development of smart homes. The market is currently heading towards propriety platforms and an open ecosystem that controls device access.

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As per the findings of the report, smart homes are expected to be benefited by the advent of the internet of things. People can now directly connect to the home improvement companies through their smartphones to buy home automation devices and equipment. This is expected to increase the sale of smart home gadgets and appliances. Smart homes are getting better with innovative home automation devices.

For a detailed study, the report on the smart home market studies all key players and their innovations. The report also briefs readers about different smart home development programs introduced by various operators. Some of the smart home development programs listed in the report are AT&T Digital Life platform in the United States, HKTs Smart Living in Hong Kong, Rogers Communications Smart Home Monitoring in Canada, and Oranges Homelive in France. Key companies operating in the global smart home market are concentrating on introducing new home appliances, home improvement devices, and other innovations

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