The President and CEO of Samsung Electronics, Boo-Keun Yoon delivered the opening keynote speech at IFA 2014, calling on the consumer electronics industry to agree on open industry standards so that the 'Home of the Future' can meet the demands of people and adapt to their unique needs and lifestyles. Samsung's executve did not provide any technical details, but spoke generally about its vision for the future conneted home.

"The home of the future is not about the technology, nor is it about being smart and connected," Mr. Yoon said. "It's about human-based innovation. It's about technology that isn't overwhelming and works discretely behind the scenes to adjust to consumers' needs at the right time."

Mr. Yoon said the 'Home of the Future' will adapt to people's needs through three key attributes. It will make complex data visible and useful so people can make better choices; will learn people's needs and recognize lifestyle patterns and will also proactively adjust to their needs and provide suggestions without being asked.

Moreover, the Home of the Future needs to provide us with physical security, and emotional comfort; be flexible enough to
make smart use of what space we have in crowded cities and adjust to new lifestyles that blend work, learning, and life; and also be responsive to each family's needs with technology that senses, learns and responds to our behavior.

Samsung will use the research and creativity of its six Lifestyle Research Labs, six Product Innovation Teams and six Design Centers around the world, as well as collaborations with industry partners, to bring the Home of the Future.

The Korean technology giant thinks that Home of the future will be woven into the fabric of our lives just as fast as smartphones and tablets; and it will be here before we know it. Samsung already have started partnering with industry leaders, such as the Open Interconnect Consortium, to create interconnected solutions and industry standards.

Samsung also recently announced its acquisition of SmartThings, an open platform for the next-generation smart home experience. In just over two years, SmartThings has built an active ecosystem that supports more than 1,000 devices and 8,000 apps created from its community of device makers, inventors, and developers.

In concluding his keynote, Mr. Yoon added that the future home is not far away - and that the change ahead will be dramatic for many fields.

The opportunities ahead are enormous," Mr. Yoon said. "The ;Home of the Future' will not just boost the tech industry, but will create more jobs and a ripple effect across society - from energy efficiency to safety, and independence for our increasingly aging population. By collaborating with industry partners, Samsung is well positioned to lead and drive this transformation."

The company predicts that there will be about 45 million installed smart home services and globally, the smart home market is expected to be worth 100 billion dollars, all by 2018.