In 1956 Packard introduced the power locks for luxury cars. In 1980, Ford introduced the external keypad and keyless entry for most of their models. Today, nearly every new car that hits the market will have some sort of smart technology built in.
We are seeing similar patterns within the home automation industry. With the proliferation of smart devices hitting the market and the cost of these devices decreasing, it is estimated that there will be over $71.8B in smart home revenue by 2017.
Similar to how smart technology has been embraced by car manufactures, within the next 10 years, virtually all existing apartments and homes will have some sort of smart device helping residents and property managers better live and manage these buildings.
In the near future, residents will be able to have their smart refrigerator tell the local grocery store that it needs various items to make a chicken piccata.
The heating and cooling vents will automatically close or open if it senses a room is being heated or cooled when it doesn't need to be. A resident will be able to go to the common area Gym and the treadmill and weight stations will tell them how many calories they burned, how many reps they did and suggestions on how to get more out of the workout.
Residents can currently check in on their pets while they are away at work, control their thermostats to be at the perfect temperature while they sit in traffic or let their friends into the unit without leaving a key under the mat. The acceleration of change within this space will continue to grow exponentially and new devices will enter the market we are currently not even thinking about.
Home and building automation will be integrated within every fabric of our lives. The future looks bright for home automation and we are excited to see what new technologies enter the market.