Home as a Hub: Smart Technologies Present Dynamic Growth Opportunities
Future homes that harmonize work, entertainment, relaxation, shared living, health, and wellness fuel new product development
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The COVID-19 pandemic forced customers to stay at home, and with restrictions on outside activities, the housebound often became overwhelmed with completing all of their daily tasks and activities in one space. This led to increased dependency on technology to improve their quality of life.
This study explores home as a hub for entertainment, relaxation, work, shared living, and health and wellness. Multifunctional smart homes of the future must cater to customers’ aforementioned needs, yet affordability must remain unchanged. In response, companies are looking to restructure residential living spaces as a means to ensure increased flexibility, modularity, and overall affordability.
Companies must help customers make their homes and neighborhoods secure by integrating smart home technologies to aid in monitoring and fostering community participation. Virtual guardians for smart homes are possible by integrating technologies such as AI and computer vision, depending on increased customer willingness and adoption.
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