Future Homes

By 2020, some 230 million or 15% of all households worldwide will be equipped with smart-home solutions. The impact of more technology will be profound and is likely to change the way we live, work and play. Read on to discover just a few of the changes we will see in the next decade.
What is changing?

Technology

  • An expected Compound Annual Growth Rate (CAGR) of 34.6% will boost revenues in the smart home safety and security systems sector over the next five years to $ 6.132 billion.
  • Tech coming into the home will be a big feature of 2016 as abundant Wi-Fi, smartphone penetration and 4G availability come together.
  • Strategically placed motion sensors linked to a smart meter could be used to alert

homeowners to any pest/rodent infestations in their homes.

  • 13% of UK homes already have one or more IoT devices and 69% will have an IoT device by 2019.
  • Light bulbs and door locks will be crammed with sensors, microphones, and cameras.
  • At least 1 in 3 home routers will be used as public Wi-Fi hotspots by 2017.
  • Tech coming into the home will be a big feature of 2016 as abundant Wi-Fi, smartphone penetration and 4G availability come together.
  • Machine learning will quietly find its way into the household.
  • By around 2017 the cost of lithium ion storage technology will have fallen low enough for early adopter households and businesses to retrofit it onto existing energy generation systems.
  • 2016 will be the year virtual reality (VR) becomes a household technology.

Medical

  • Patients who are at high risk of becoming critically ill will be supported with telecare monitoring in their homes.
  • Technology solutions and remote health monitoring systems that enable family caregivers could provide key relief.

Services

  • Along with interior cleaning services, exterior cleaning and swimming pool cleaning services will exhibit above average growth in 2019.
  • The use of service robots is expected to grow faster than the use of industrial robots in the near future (e.g. security “guards” from Knightscope).
  • 80 to 85 percent of all deliveries to the home will be made by self-driving vehicles.
  • By 2020, there will be 200 million internet‑connected wireless smart home security and safety products installed worldwide.
  • By 2019 home security systems will account for 38% of the connected home market.
  • Sophisticated horticultural products for the home such as self-watering devices for the easy maintenance of plants will grow in popularity.
  • Drones will be the delivery trucks of the future.
  • Customers will be able to not only control the supply to certain appliances remotely but also monitor their usage through real time data ensuring convenient and efficient use of energy in the home.
  • Average monthly data consumption per household will exceed 100GB in developed markets in 2016.
  • 27% of people who do not currently have smart home technology say they will incorporate it into their lives in 2016.
  • Nearly half of all US households will boast at least one piece of smart technology in 2017.
  • Over 700 million smart meters will be deployed worldwide by 2020.
  • Smart home devices sales will nearly double year-on-year.
  • Everyone will benefit from personal robots that vacuum the house.
  • Predictive technology developed by Accenture will help health, social workers and the police spot when problems are arising so they can intervene more quickly.
  • ‘Smart homes’ will offer ‘prosumers’ with insight into their usage patterns and provide proactive advice how to use electricity more efficiently and provide opportunities to ‘sell back’ to the grid.

Climate change

  • Flood risks have increased as climate change has made heavy rainfall events both heavier and more frequent.
  • A home with solar could meet 70% to 80% of its energy needs from self-generated electricity in a year and up to 100% in the summer.

Finance

  • Household debt-servicing capacity will become stretched further as interest rates rise to “normal” levels over the next five years.
  • Three-quarters of Millennials would prefer to work from home or other locations where they feel they could be most productive.
  • Accelerating growth in disposable personal income levels will benefit residential cleaning services.
Implications

Security

  • Networked devices in cars and homes could introduce a multitude of new attack vectors.
  • Sensors in parked cars could supplement home security systems.

Disruptions

  • Consumers could opt for a complete solution of solar panels, an inverter and battery and go off-grid.
  • Perhaps towns could become self-sustaining in energy by creating its own energy through sunlight, water and windfarms.
  • Household work could be further automated.
  • Airbnb will move into home automation.

Hubs

  • Modern and tech lovers everywhere will want to slowly convert their homes into a fully futuristic hub.
  • The smart home of today will become the smart office of tomorrow.

Construction

  • Momentum has gradually been building behind the idea that prefab homes could be an important part of construction solutions in the future.
  • More efficient home energy management is going to be a very big market.

Drivers
smart home · technology · energy · cars · households ·  security · patients  · sensors  · income · climate change · electricity

Learn more

What future opportunities and risks could arise for your organization from advances in ‘Smart Homes? Develop your answer and responsehere.

Find more sources and resources on Shaping Tomorrow , some of which were used in this Trend Alert, or ask us for our ready-made and free, in-depth PowerPoint report or more detailed GIST briefing on this or any other topic of interest to you.

Also, click here to find out how Shaping Tomorrow can help your organization rapidly assess and respond to these and other key issues affecting your business.

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