Building the Home of the Future—Now
With new home technologies, you can have your blinds automatically open at your idea of daybreak (not the sun’s idea) or have a buzzer sound when your sump pump clicks, a thousand miles away, from a smartphone.
You know the feeling when you are on your way to the airport and you ask yourself, “Did I turn off the iron?” or, “Is the front door locked?” With connected-home technologies, life can be less stressful, easier and efficient.
Trends in home technology are tracked in the Consumer Electronics Association’s (CEA) 12th Annual State of the Builder Technology Market Study. The National Association of Home Builders’ Home Innovation Research Labs fielded the survey to a national panel of builders to assess installation of key home technologies in new housing starts.
Retailers, as well as home builders, are set to benefit from increasing installed technologies in new housing. According to the U.S. Census Bureau, total housing production rose 13.2 percent in April 2014. In addition, according to CEA’s U.S. Consumer Electronics Sales and Forecast report, built-in home technologies are expected to reach $2.3 billion in wholesale revenue in 2014. Technology and volume have driven down the prices of hardware, and homeowners appear to be more willing to install home technologies.
Additionally, almost two-thirds (64 percent) of U.S. households now indicate they own a smartphone, according to CEA’s 16th Annual Ownership and Market Potential Study. Consumers have now grown accustomed to controlling several important aspects of their life from smartphones and tablets—and homes could be next.