AI & IoT Automation and Applications are Quickly Becoming Leading Factors for Growth in Smart Home Industry – PR Newswire
PALM BEACH, Fla., April 12, 2022 /PRNewswire/ — FinancialNewsMedia.com News Commentary – AI-powered and IoT-enabled applications like personalized and predictive automation is now dominating the consumer experience for smart homes by making life more secure, convenient and most importantly, safe. AI and IoT are quickly becoming the leading factors in the growth of smart home markets. Smart living with automation and integrated AI-IoT is no longer considered as a luxury as home automation tools have become more affordable. Home automation and smart homes are two ambiguous terms used in reference to a wide range of monitoring solutions, controlling, and automating functions in a home. Unlike simple home automation solutions (which could range from motor-operated garage doors to automated security systems), smart home systems require a web portal or a smartphone application as a user interface to interact with an automated system. Smart home devices are suitable for a home setup where devices can be automatically controlled distantly from any Internet-connected place in the world, using a mobile or other networked device. A smart home has its devices connected through the Internet, and the customer can regulate functions, such as security access to the house, temperature, lighting, and home theater. A report from Mordor Intelligence projected that the Global Smart Homes Market was valued at USD 79.13 billion in 2021, and it is expected to reach USD 313.95 billion by 2027 and register a CAGR of 25.3% over the forecast period (2022 – 2027). It said: “Across real estate companies and the architect ecosystem, the ‘new normal’ defined through the social distancing results in a requirement to go back to the redesign basics and reinvent the residential real estate product by factoring in new-age designing, efficiency, and innovation. As the redesign happens, the need for a totally new set of amenities has resurfaced and gained prominence. What the customer will need in the ‘new normal’ has undergone a revolution in the crisis triggered by the COVID-19 pandemic, and it is leading to a paradigm shift in residential spaces.” Active Companies in news today include: SPYR, Inc. (OTCQB: SPYR), Apple Inc. (NASDAQ: AAPL), NVIDIA Corporation (NASDAQ: NVDA), Advanced Micro Devices, Inc. (NASDAQ: AMD), Microsoft Corporation (NASDAQ: MSFT).
Mordor Intelligence continued: “Companies are continuously investing in new product designs. Globally, the increasing importance of the need to counter security issues is anticipated to fuel the demand for smart and connected homes over the forecast period. Moreover, innovative wireless technologies, including security and access regulators, entertainment controls, and HVAC controllers, are expected to foster market growth. Moreover, reducing IoT sensor costs are also expected to result in OEMs offering products for a more competitive and lower price, which could indirectly impact the HVAC equipment market. Green HVAC systems are being developed to bring down costs and improve energy efficiency.” It concluded that North America holds the major share of smart home market… “Smart homes are on the rise, with nearly 30 million US households projected to add smart home technology in the near future. The products consumers are looking to add to their homes include connected cameras (highest demand), video doorbells (2nd highest demand), connected light bulbs, smart locks, and smart speakers of late.”
SPYR, Inc. (OTCQB: SPYR) BREAKING NEWS – SPYR Technologies’ Applied Magix Exploring AI Applications for IoT Systems – SPYR Inc (SPYR), …….