Why are smart homes the future & what does it mean to you?

 In today’s world, the Internet of Things (IoT) technology has taken over our everyday lives at home. It enables gadgets to function smartly because they are embedded with sensors, making them capable of connecting and exchanging data with other household devices with a single primary contact - a smartphone, PC/laptop, or tablet. This single device lets you manage lights, fans, ACs, TVs, refrigerators, microwave ovens, and other home appliances.   

Millennials and first-time home buyers are capitalizing on this technology which is catering to their needs and, in turn, propelling them toward a sustainable planet. These smart homes provide energy efficiency savings because the devices they use have Zigbee and Z-wave, popular wireless network protocols that allow them to be switched off when they are not being used. They begin operating again when you give them commands, giving you the benefit of reducing your home electricity bills significantly. In short, you can run all home appliances on your fingers. 

According to researchandmarkets.com, an online global market research firm, the Indian smart homes market will account for the spending of more than US$ 9 billion by 2025. 

With three out of four millennials evincing interest in buying a home in the next three years, they are the key drivers of India’s housing market. Moreover, the spread of Covid-19 has only accelerated the adoption of smart homes as they enable work from home, studying from home, shopping from home, etc.  

Millennials are at the forefront, pushing forward newer concepts, innovation-driven technology, and trends to come to fruition while keeping a progressing viewpoint when it comes to sustainable practices. Choosing smart homes comes with several benefits to the world which is developing rapidly.  

With climate change becoming an alarming issue, the onus is now on the citizens of the planet Earth to reduce greenhouse gas (GHG) emissions, and smart homes do that by decreasing carbon footprints considerably.   

Needless to say, about 33% of all the world’s carbon emissions are due to the energy consumption of household appliances, as stated in a study conducted by Finnish researchers.

The upshot of that study was that home automation could save around 13% of these GHG emissions and, in the bargain, diminish the effects of global warming. 

 Given that the Indian market segment is predicted to grow by 5% in 2022, a smart home will be both attractive as an asset and for settling down. When the real estate market continues to expand, you, as an owner of a smart home, are assured of a decent profit if you decide to sell it.