The new-age smart home technology has significantly improved the living standards of millions of people worldwide. The advent of household IoT devices like Alexa, Google Home, and Apple Homepod have enabled users to control their smart home accessories with ease. According to Zion Market Research, the global smart home market is expected to reach $53.45 bln in 2022. Zion predicts a compound annual growth rate (CAGR) of 14.5% between 2017 and 2022. The numbers are huge, considering the fact that the smart home market was valued at $24.10 billion in 2016.
The aforementioned statistics indicate that 2020 is going to be the year of innovation in IoT and home automation. Below are the five technology trends in home automation and IoT app development that are going to dominate 2020.
Multifunctional Smart Display
Smart displays and touch panels enable users to monitor performance, efficiency, and energy consumption of their home appliances. The modern-day smart displays come with advanced features such as voice-control and support for virtual assistants. The growing popularity of IoT-based equipment indicates that more users are going to be a part of this connected ecosystem in 2020.