A Trend To Watch
Is the world getting “smarter”?
Smart devices are changing our lives. The smart office market, comprising technology like energy management systems, smart-lighting control and audio-video conferencing systems is expected to double to US$57 billion by 2025, boosting energy savings and employee productivity along the way. Similar growth is expected in the smart home market: in 2019, the US was the largest consumer of smart home technology with a market volume of $23.5 billion, but by 2024, there will be over 70 million smart households across the globe. Speakers, video entertainment and security devices will remain a staple, with features like gesture-controlled technology and personalised alerts from security cameras being thrown into the mix. Against the backdrop of these developments, some questions remain: How will companies and consumers manage privacy and cybersecurity? And is this technology “smart” enough to address issues like sustainability, ageing populations and even identifying domestic abuse?