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The market is expected to grow through 2020, and there's no sign it will slow down after that. In the science fiction movie "Gattaca," Ethan Hawke's character was able to get into a secure area using nothing but a scan of his retina. That technology actually exists today. It's called biometrics. In addition to your eyes, it can scan your fingerprints or recognize your voice. It's a great choice for people with fat bank accounts who harbor government secrets, but for the rest of us, digital door locks offer a cheaper home security option.alarm home
IoT has significant ramifications for the future of smart homes: the more devices that are connected to the Internet, the more can potentially integrated into the smart home system. Examples of IoT as relates to smart homes are the Nest Learning Thermostat, the Chop Syc digital chopping board, the Toncelli Kitchens digital kitchen countertop, the air monitor Birdi, and the Wattio SmartHome 360 energy monitor. Currently, less than 1% of homes employ full smart home technology. But by 2018, HIS Technology, a research firm, predicts that 45 million smart home devices will have been installed, and the annual business volume will have grown to $12 billion dollars. ABI Research predicts growth to $14. 1 billion by 2018. The market research firm Allied Market Research projects that the global smart homes and buildings market will grow at a compound annual growth rate of 29. 5% through 2020, at which point the market will be worth $35. 3 billion. Another even more optimistic report from Juniper Research, predicts that the market will grow to $71 billion by 2018. Beyond this market are less expensive smart home devices and systems, largely manufacturer by security, software and electronics firms.