Get Ready for Explosive 'Smart' Home Growth

About 100 million households will be “smart” worldwide by the end of the year, and the number will grow to 300 million over the next 10 years, according to a new report released by Deutsche Telekom, a German telecommunications company.

More consumers are embracing “smart” home technology for its promises of home efficiency, convenience, and savings. In the next five years alone, the smart home industry could be worth hundreds of billions of dollars and Deutsche Telekom predicts that it will be one of the next major markets to take off globally.

Entrepreneurs and start-ups are taking note. They’re focusing on niches like home automation, insurance services, ambient assisted living, and data analytics.

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