Dive Brief:

• The international market for smart homes will grow 17% by 2020, reaching a value of more than $58 billion, according to a new report by research firm MarketsandMarkets.

• The report defines “smart homes” as residences equipped with technology that “anticipate[s] and respond[s] to the needs of the residents.” Those products enhance comfort, security, convenience and access to entertainment, the report said.

• North America will be home to more smart homes than any other country, the report said, as more homeowners demand products that offer them peace of mind, and as consumers become more aware of the technology for sale.

Dive Insight:

Like all things technology-related, the growth of smart homes will be aided by declining prices for products that automate the home. Researchers said they expect demand for those products to “grow at a decent pace."