The market research company Gartner has predicted that the home automation system industry will increase to $484 billion in 2020, up from just over $100 billion now. The average household might be spending as much as 20% of their annual income on products such as thermostats and security systems within a decade.
Home automation is expected to grow exponentially for a number of reasons: As people are looking more closely at ways to automate mundane tasks or how they spend time with loved ones, the Internet of Things trend means there’s even more opportunity for devices like smart TVs and appliances to work together seamlessly without any human intervention. For example, your TV could notify you when you have five minutes left before dinner is ready so you can switch it over to the correct channel or your refrigerator could tell you there’s no more milk, so it’ll send a text message to your spouse asking them if they want to pick some up on their way home.
Another factor contributing is that people are getting older and have less time for tasks like mowing the lawn or going grocery shopping. For this reason companies such as Samsung has created devices like smart ovens that can be remotely controlled by an app on a smartphone from anywhere in the world.
The most important thing about these predictions is what impact automation will have not just on our homes but also how we live: The effect of increased automation might mean fewer jobs over time, leading many analysts believe more education and training programs need to be developed in order to prevent a labor shortage in the future.
Gartner predicts that by 2020, homes around the world will be using only about 20% of their total electricity consumption. This is primarily because more devices are being powered remotely and have been designed to use less power when not in use than ever before meaning we can get money-saving benefits from automation such as this without having to sacrifice convenience.