Emerging smart home and Internet of Things (IoT) trends represent powerful changes in benefits for all product types in the home, regardless of specific category. Current products are first or second generation. These devices will become smarter, more open, and more beneficial over time. Just remember: 10 years ago, there were no iPhone or Android smartphones, and laptops were well above $2,000. Five years ago, tablets didn’t exist. Technology advances reduce cost and improve products and systems.
The connected home continues to evolve from basic connected home networks to a feature-rich collection of consumer electronic devices, broadband-enabled services, and multifunctional set-top boxes and residential gateways. As advanced technology continues to play an increasingly important role in our personal and professional lives, it is critical to understand how technology can also play an important role in the life of a community. Not only does technology add a vital and valued amenity, it can also be leveraged to serve as the community’s cornerstone for economic development, while defining a community’s unique personality and culture.