It's no secret that many U.S. consumers are obsessed with technology. You only have to look at the lines of shoppers camping out at Apple stores waiting for the latest device to be released to confirm this observation.

That obsession with technology, combined with the increased connectivity in our lives — also called the Internet of Things, or IoT — has led to innovations in technology that allow us to manage our homes from a distance, leading to the "smart home."

As Statista's Felix Richter points out, "There is hardly any part of the home that cannot be automated or controlled via smartphone or tablet app. Automated lighting, smart heaters and wireless audio systems are just some aspects of what is already a multibillion dollar market."

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Rosalie Donlon

Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].