Allianz Partners bullish on smart home industry in China

By the year 2040, new homes will be digital fortresses that will be protected by security systems based on the occupants' biometrics and facial recognition software, and China may reach this tech milestone even earlier, said a latest report.

The report, released by French company Allianz Partners, a world leader in assistance and insurance solutions, pictured what a smart home will be like in 2040: Living with robots will be the norm, who will take over many daily household tasks and provide companionship for their owners. Homes will host virtual entertainment and educational experiences that are fully immersive and interactive.

"We expect robots to be doing everything, such as cleaning, cooking, ironing, picking the clothes for you, babysitting, helping the elderly people to get out of bed, and even chatting with you," said Sylvie Ouziel, CEO, Assistance, at Allianz Partners.