When it comes to outfitting their homes with the latest technology, the super-rich don’t skimp. And it’s not just about having a high-end sound system or a state-of-the-art fridge. Nowadays, smart home systems are the must-have gadgets for the tech-savvy elite.
They want the latest and greatest technology to cater to their every whim, and they’re willing to pay top dollar for it. From energy-saving light dimmers to multiroom entertainment servers, high-tech systems from Lutron Electronics Corp., Crestron Electronics and Kaleidescape Inc. are just a few of the many electronics systems the super-rich are demanding in their homes.
For the average person, the dream of living in a home where mundane tasks can be outsourced to a device is becoming a reality thanks to products like Amazon Echo and Google Home. But for those with unlimited resources, the possibilities are endless.
With the rise of connected devices, there is a growing demand for innovative and high-tech solutions to make homes more efficient, comfortable and secure. Precedence Research projects the global smart home market will be worth around $581.85 billion by 2032. Startups like RYSE, a technology company that creates connected devices for smart homes and smart window shades, have seen significant traction in recent years. The startup has seen particular traction among retail investors, raising millions on popular startup investing platforms like Republic and Wefunder.
According to Winnie Bekmanis, who works in product marketing for the Internet of Things (IoT) at Qualcomm, affluent households are more likely to be early adopters of new technology. What differentiates the pricier smart home systems is the scale of installation and personalization.
Personalization is key in the smart homes of the super-rich. Celebrity homes are perfect examples of what personalized smart home systems can look like. Actress Sofia Vergara’s smart house allows her to watch movies in her at-home theater and Skype with family and use social media on a mega screen. Meanwhile, media mogul Oprah Winfrey spent $14 million on a high-tech ski home in Telluride, Colorado, where a radiant heat system keeps the driveway completely snow-free.
Bill Gates and Mark Zuckerberg are also fans of smart home systems. Guests in the Microsoft Corp. founder’s home receive devices to connect them to the smart house technology, which includes controlling temperature, lighting and music. Meanwhile, Zuckerberg created his own artificial intelligence (AI)-powered home system, Jarvis, which is voiced by Morgan Freeman.
Smart home systems make it easy to precisely control and customize nearly everything in your house from one interface, according to Bekmanis. And with advancements in artificial intelligence, the possibilities are endless, including security cameras that recognize the difference between an intruder and Grandma or sending notifications when a child has lost their key and needs help with remote access.
To stay updated with top startup news & investments, sign up for Benzinga’s Startup Investing & Equity Crowdfunding Newsletter
Forbes reports that no expense is too high and no scenario has been left unconsidered in terms of home security. Some of the most extravagant homes feature bat caves, bulletproof everything and even laser curtains.
Residence 950 in San Francisco is a perfect example of a luxury fortress with a top-notch security system borrowed from major firms like Dell Inc. Its garage alone is enough to make Batman envious with its cave-style entryway. And if you manage to make it past the enterprise-level firewall and biometric keypad, there are still safe rooms, bulletproof shutters and high-capacity security camera systems to contend with.
But the security measures don’t stop there. Some ultra-rich homeowners want counter-flash measures to deter snoopers and paparazzi, while others desire trapping mechanisms that lock intruders inside until the authorities arrive. And for those who fear action-movie-level attacks, there are even homes with blast-proof floors and walls and chemical attack protections like pop-up tents for a safe haven.
For the super-wealthy, it’s not just about having the latest tech; it’s about personalizing it to suit their every need.
See more on startup investing from Benzinga.
Don’t miss real-time alerts on your stocks – join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
This article Inside The High-Tech Homes Of The Super-Rich: Smart Systems, Security Fortresses And Personalized Gadgets originally appeared on Benzinga.com
.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
