Even though there are a number of cons as well as pros, the smart device, and home technology market has only seen an increase with time. According to statistics, this market in the United Arab Emirates was estimated to reach US$60.07mn in 2022. Also, an 11.73% of annual growth is expected for revenue in this sector. Household penetration of these devices is expected to hit 20.8% by the year 2027.
Therefore, it can be observed that even though there might be a number of concerns when it comes to the market, it still continues to rise and grow and become an integral part of our lives.
With the impact that these forms of technology have had in our everyday lives, it was certain that they would also have an impact on the residential market around the world.
According to statistics, houses containing some form of smart technology and devices, end up selling quicker than those not containing such things. This is because homeowners increasingly want to invest in spaces that help them more and more to lead a happy settled and relaxed life.
Furthermore, with the advent of this technology, houses, and homes containing such forms of technology are set to have a higher resale value and projection as well. This is because the value of a home takes into account a number of factors, with amenities and the quality of amenities also playing a huge role. Therefore, smart homeowners have the advantage to rent or sell their properties at rates higher than those houses not having such technology.
Also, this type of technology helps attract the upcoming generations as well. Having been a generation surrounded by technology, the millennial generation and the future buyers of such houses are always attracted to such technology-filled houses. The millennial generation always tries to find ways and means to make their life easier. Therefore, such houses and residences are a must-have among this generation.