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The concept of the home has changed over the last two decades. Today, more of us are using our homes as our offices as well. And there are more changes to come. A recent ABI Research report calls the next generation home the Transformational Smart home.
This new smart home will transform life inside homes and reshape the world of consumer services and human interactions. The global tech market advisory firm ABI Research outlined six major smart home concepts that will drive Transformational Smart Home investment and adoption.
The report also said that environmental, financial, and even political change would bring critical mass to speed smart home development and value.
The six key concepts detailed in the report are:
- The Sentient Home: These smart homes have virtual intelligence that can automatically adjust in real-time to changes to suit a range of criteria, from individual presence/preferences to efficiency and weather changes
- The Cooperative Home: This type of smart home works in conjunction with other intelligent homes, with a central hub (probably aa /city/region/nation), to manage, control, use, and share resources efficiently.
- The New Lifestyle Home: This one can make flexible and straightforward changes in the use of spaces to support a growing number of activities. This next-generation home is especially useful in areas where space is limited.
- The Home as a Business: This could become the norm in the coming years. By utilizing smart home capabilities, homeowners will enable and support new revenue-generating services for residents to leverage.
- The Low Impact Home: This home is for the environment-conscious. It has automated control over the selection, generation, delivery, consumption, and disposal of goods and services, all aimed toward minimizing environmental impact.
- The Marketplace Home: This new smart home concept allows companies, industries, and service providers to engage with consumers. It could be a home where brands roll out new services and products that homeowners can try out.
Interestingly, the ABI Research report said that the push to monetize the rich potential of the Transformative Smart Home would drive the adoption of a wide range of new and emerging technologies.
These new capabilities could be intelligent sensing, improved connectivity between devices, AI, and robotics. Smart home service companies’ ecosystem will also emerge to assist and manage how new and existing vendors and industries extend the reach of their intelligent home plays.
While Amazone, Google, Microsoft, and the rest of the tech giants have been trying to mold the smart home concept, new and transformative developments could come from other industries or companies. We could see smart home health to take the lead and increase adoption faster. New developments in renewable energy could also help. Even as this year was tumultuous and sometimes uncertain, the smart home market will deliver a 4% growth. ABI Research estimates that between 2020 and 2026, global smart home spending will grow at a 24.4% CAGR to US$317.6 billion.
These findings are from ABI Research’s The Transformational Smart Home application analysis report. SmartHomes Now will provide more updates on the Transformational Smart Homes.