Advent of smart homes to create new business opportunities

Analysis

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As smartphones are no more novelty, it seems that technology is going to make a new area of our lives smart: our homes. But how can our homes become smart?

Developers and experts are working on innovations to make our homes smart. As the saying goes “homes is where the heart is”. Smart home is where all the household appliances can be controlled by our smartphones, tablets and computers. Our homes would be able to detect which room we are in, collecting data from our smartphones in our pockets, and switch lights on and off automatically to make our energy consumption more efficient.

Apple is rumored to be nurturing plans about making homes smart by automating gadgets and installing sensors, but as usually, great secrecy surrounds Apple’s real intentions. Google bought a company producing thermostats connected to the internet for $3 billion January. Samsung has hit the markets with fridges connected to the internet, which can automatically order food on shortage. Thus great companies have made the initial steps toward the establishment of smart homes.

However tech enthusiasts are going crazy about new gadgets digitalizing everything at their fingertips, one should not forget that once something goes online, it is exposed to the threat of hackers. And once our homes are hacked, we might face serious problems.

This new line of development creates ground for new businesses and startups. New applications will be required to control our household appliances and to protect them from hackers. Digital markets will further be expanding and creating the need for apps, solutions and technological innovations.

New businesses can emerge and existing businesses can grow further in Hungary. Global internet technology has seen the innovations of many Hungarian solutions like Prezi, Ustream and LogMeIn, just to mention a few. The following years might revolutionize businesses and continue the digitalization of markets further.

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