We can all agree that technology still is constantly changing our lifestyles and transforming our daily routines on an exponential level.
“Smart home” is a term used to explain integrations of home appliances to internet-connected devices, allowing remote control and increased management. By using sensors, cameras, AI and machine learning algorithms, the quality and efficiency of smart home appliances are improving every day.
Convenience, security, resource management, wellness, and entertainment are some of the many benefits of using smart technology products in your home.
The market for smart technology products has grown significantly in recent years, driven by the increasing adoption of connected devices and the Internet of things (IoT). According to a report by Allied Market Research, the global smart home market was valued at $79.13 billion in 2020 and is projected to reach $313.53 billion by 2027, growing at a compound annual growth rate (CAGR) of 20.6% during the forecast period.
The market for smart technology products is also expanding beyond the home, with smart technology being increasingly used in commercial and industrial settings as well. For example, smart buildings and cities are becoming more prevalent, using IoT-enabled devices and systems to optimize energy usage, improve safety and security, and enhance overall efficiency.
Some of the most popular types of smart technology products on the market today include smart thermostats, smart lighting systems, smart home security systems, smart speakers, and smart home hubs. Additionally, smart technology is being integrated into a wide range of appliances, including refrigerators, washing machines, and ovens, as well as wearable devices like smartwatches and fitness trackers.
When Lockwaste was created, we wanted to incorporate technology to develop the world’s very first smart bin lock - and that is exactly what we did. Our bin lock can be fully controlled by your phone and we also count with an algorithm that automatically opens up the bin for the rubbish truck.
If you want to be the first to know when our smart bin locks are ready for sale, head to our home page and leave your email so we can notify you.