The numbers from smart home sector sound highly attractive. However, even though consumers are buying into the smart home, there are still concerns about the growth of the sector. And these concerns can give a hint to the next step development for smart home devices.
Tag Archive for: Smart Home
The increasing growth in demand for smart home devices is one of the biggest driving factors for the consumer electronics market today. Statistics show that over $50 billion was spent on smart home devices worldwide by the end of 2018. With the currently developing smart home trends, the worldwide penetration rate is at 7.1% and it’s expected to increase up to 9.5% by the end of 2019. Despite the increased revenue and penetration rate of smart home devices, the technology is still in its early stages of development and adoption.
Early stages of new technology always come with pain points. For instance, one of the pain points of this technology is that there is too much human input needed to make things work. It may be a challenge for some people to set up and operate the different functions of smart home technology. In the end, the pain points make it hard for companies to achieve the goal of making consumers’ lives easier and more convenient.
So the big question is how to truly achieve the goal of convenience through smart home technology? We believe that target market accuracy and timing is the missing puzzle piece.
Undoubtedly, companies are trying their best to come up with the best device through continuous improvement and innovation. However, pushing a great device to the wrong market at the wrong time may create more problems than solutions. Providing support such as instalment services and trying to educate the market may be a way forward, but knowing when it’s the right time to push a device to the right market will make a big difference
So how can we identify the right market conditions to leverage? If you’d like to know more, please contact Nimrod.
The “smart home” market has exploded in the last few years, creating an ecosystem of interconnected devices in our homes and lives. Here are five trends we think are worth following:
More natural voice control
Voice control platforms like Amazon Alexa, Apple Siri, Google Assistant, Samsung Bixby and others allow you to control and operate any connected devices in your home with just a string of verbal commands. In 2019, we expect a more natural way of speaking with our smart devices instead of a standard list of commands.
More efficient network control
Networking systems designed specifically for smart homes have become more common – with ample bandwidth, speed and range to handle all the new technologies and devices. Next step will be software and apps to allow homeowners to prioritize which products get the best connection or set parameters for family members (e.g. no gaming during homework).
Rising need for cybersafety in Internet of Things (IoT)
As IoT has enabled greater communication between the devices inside our homes and the world outside, the ugly flipside of vulnerability to hacking has come to the fore. Manufacturers will start paying more attention to extra layers of cybersafety to give real peace of mind.
Customized functions based on users’ identity
Smart home devices are now able to learn from users’ habits and adjust settings accordingly. Biometrics and artificial intelligence are becoming more commonplace, and customization based on the identity of users will become more mainstream.
Drones for home security
Drones have quickly evolved into a security device with integrated surveillance cameras and the ability to give users a bird’s eye view of places that a standard surveillance camera couldn’t go. Drones are now due a makeover to look less like a toy and more like a piece of home décor.
If you’d like to find out more about our experience in technology trends, contact Rob.
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