Nowadays, it can be difficult for the average consumer to keep up with the rapid pace of technological development. Most businesses share the same challenge. In fact, the most successful companies gain a competitive edge by continuing to evolve and adapt to these incessant changes.

Home security is one industry that is undergoing wholesale changes in response to technological innovation. The business was born in when Boston inventor was issued the first patent on electromagnetic burglar alarms in 1853. Over a century and a half later, high-tech wireless alarm systems are replacing traditional hard-wired systems as the industry standard. But here’s the kicker: the home security business is beginning to branch outside of – well – home security. In addition to catching burglars and detecting fires, modern security systems are now also being designed to manage energy consumption, control electronic appliances – and much more.

This new and exciting technology is called home automation.

What is home automation

We are now living in a gadget-dominated world. Tablets, smartphones, 3D televisions and other gizmos play an integral role in our everyday lives – and they aren’t going anywhere anytime soon. The future is exciting, daunting and confusing all at once. As technology continues to advance and give birth to new innovations, it can become extremely challenging to keep up with all of this innovation.

But what if you can make all of this technology work together?

A connected, or “smart home” was once considered a fantasy that could only be seen in futuristic Hollywood movies and TV shows. But now, this technology is not only a reality, but also affordable for the masses.

A home automation system allows you to integrate the various technological devices work together into one simple-to-use application – accessible through a remote control. These systems can be managed within the home, or remotely, using a smartphone, computer or other web-enabled device. Listed below are some of the things a home automation system can do:

• Control your thermostat and lights
• Watch real-time surveillance video of your home
• Play music in any room with connected speakers
• Control your home theater system
• Arm and disarm your home security system
• Remotely lock and unlock doors

Home security adopts home automation

Many high-profile residential security companies have already begun offering these services to their customers. For example ADT (check out http://www.securitychoice.com/), released ADT Pulse in October 2010 – giving their customers the ability to manage nearly every aspect of their home from a smartphone application.

The future of home automation

The shocking part of home automation technology – it’s just in its infancy. Today’s smart devices don’t all run on the same technology (X10, Insteon, ZigBee, etc.), making many devices or systems incompatible with one another.

While it’s hard to know what home automation technology will look like down the road, its future as a valuable commodity is anything but uncertain. According to international industrial company Ingersoll Rand, the smart home industry will reach $2.5 billion in just two years – a 30 percent increase in the number of households with such home automation systems.