Business

Are smart homes hackable? Smart Home Future Demand

Today, the smart devices industry is booming. The idea of smart home is very common and with increasing demand for the automated home environment to make live convenient and easy, the smart home market has taken an immense jump in the recent years.

As engineering devices with smart technology keep making our lives easier and more comfortable, they come with their added risks as well. Anything that is connected to a network is susceptible to attacks. Smart homes can be hacked too. An insecure home network can make it easy for unauthorized access.

If you want to create a cyber-attack resilient home-automation system, it is very important to implement security changes and regulate the software at regularly. Some people don’t even log in to their routers to see its activities.

Some people buy expensive AI-powered routers and don’t change their default passwords. One malware infection can compromise the entire system. Some people love the benefits of smart devices, but do not want to put in the time to properly secure the devices, giving comfortable access to hackers to waltz into their system. It is necessary to keep track of activities in your home network.

Changing passwords and on a regular basis, and updating the software as it requires also allows you to resists any threats that may persist.

By Market Perspective, Global smart home market is anticipated to flourish at a robust compound annual growth rate (CAGR) of 15.1% over the forecast period 2017-2024 and is expected to reach at a valuation of about USD 130.1 Billion by the end of 2024.

Conclusion

Increasing disposable income of the consumers and their inclination towards luxuries lifestyle are the major growth drivers which are anticipated to foster the growth of global smart home market over the forecast period. Moreover, rising awareness and concern among people for better home security, health care and their privacy are some of the major factors which have bolster the growth of smart home market.

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