[ecis2016.org] Advanced technologies have enabled developers to introduce many tech-led premium features that will drive customer preferences in the luxury housing segment
There has been a shift in the definition of luxury housing over the years. Earlier, home buyers considered large houses with opulent designs and amenities at prime locations to be luxury. Customers are now looking at improving their quality of life beyond traditional means, by integrating technology. Emerging trends, however, reflect that technology will sit at the heart of luxury living, redefining the concept of luxury homes in India. Advanced technologies such as AI (artificial intelligence) and ML (machine learning) have enabled developers to introduce many tech-led premium features that will drive customer preferences in the luxury housing segment.
You are reading: Digitally-enabled homes set to redefine luxury housing
There is a rising demand for innovative home products in the country, bringing in a new era in home automation. According to a report by Allied Market Research, India’s home automation market size stood at USD 1,790.9 million in 2018 and is expected to reach USD 13,574.1 million by 2026, at a CAGR of 29.8%, for the forecast period 2019-2026.
For luxury home buyers, digitally-enabled homes offer ease and comfort from the tedious everyday tasks that consume one’s time. Today, many of us lead fast-paced lives and intelligent home features provide convenience to home owners, allowing them to enjoy precious moments to relax and rejuvenate. The need for these features is relevant now, as the Coronavirus pandemic has turned homes into offices and each saved minute has improved work-life balance.
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Here are some advantages, due to which consumers today are preferring luxury homes that are digitally enabled and connected:
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Connected homes technology
Through IoT (internet of things), one can automate home functions and have seamless control at the tip of one’s fingers. These home control mechanisms, such as smart security, smart lights and shades, allow consumers to manage their home security, lighting, air-conditioning and appliances like washing machines, from their comfort of their couch.
High-tech security solutions
Home security is an essential component of IoT and artificial intelligence. With CCTV cameras and smart locks, home owners can monitor their apartments remotely and avoid break-ins and intrusions. Smart locks have an IoT-controlled interface, allowing key-less entry with biometrics and pin codes. Innovative monitoring systems have added an additional layer of security. Some premium security features that these digitally-enabled homes offer, are dual security camera setup that live-streams both, interiors and exteriors of a house, through a secured application that detects movement in the absence of anyone at home.
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Conserving resources
Luxury home buyers are environmentally-conscious and focus on sustainability and energy conservation. Developers are, hence, designing homes that enable home owners to conserve water, electricity and other resources, through several intelligent energy applications. With such latest technology, you can decide when to switch off/on or control the intensity of electronic equipment like air-conditioners, microwaves, refrigerators, etc. and save energy. Automated homes have advanced systems, so that even if one is away from home for an extended period of time, the IoT-connected devices and appliances can be managed remotely via a mobile application, thus, conserving energy.
A glimpse of an alternative, digitally advanced future is visible now, with people spending more time in their homes. It is, therefore, essential for developers to find new ways to integrate technology into luxury living.
(The writer is senior executive vice-president, sales, Piramal Realty)
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Category: Lifestyle
