Connected technology has grown from smart meters that track our electricity use to doorway sensors that let us learn the arrival and departure of individuals at our premises with an application on smartphones. A ‘connected home’ is made up of this smart and versatile innovation. Technology has progressed to the point that many of our standard electrical devices such as smart TVs or smart thermostats are evolving as ‘connected devices’. Both of these machines can be connected and now can be normally controlled by our smartphones.
According to a study, by 2022, 60-65 million American homes would count as “connected,” with everything from Internet-connected light bulbs to surveillance that allows us to monitor our pets from our workplace. We are going to switch from turning lights on and off with our voice a decade from now to complete integration on the Internet of Things (IoT). The intelligence that connected devices gather, interpret, and operate upon would be key to all of this, helping to turn the houses of the future from a simple array of devices and appliances into truly connected homes. Global Market Database is a world’s first dynamic B2B Market Research Platform which provides free market research tools.
The connected home industry is rapidly gaining wider customer recognition. In the last five years, mass marketing advertising has grown dramatically in North America, and supermarket chains such as Target and Wal-Mart have been selling connected home devices in several of their outlets. In Europe, the various service providers that expect to introduce or extend their connected home projects with the help of major marketing strategies shortly will be fueling the industry.
Connected home infrastructure can be pushed far past what is found on store shelves today by several technical innovations. Artificial intelligence technologies, for instance, stand to upend nearly everything about human lives, including their homes. To get the news updates or weather reports every morning, humans are already using some form of AI-powered voice-assistant device. But those AI systems could act as the brain for the entire household in the digital home of the future, by knowing about occupants and organizing and optimizing all of their different connected devices. Global Market Database is an effective market research tool that gives its users market wise quantitative inputs.
A high cost would come with all the digital attentiveness. It is expected that customers would spend USD 123 billion on IoT devices by 2021, a figure that will undoubtedly grow subsequently. In addition to Internet-connected televisions, vendors are throwing their research and development, and marketing investments behind home surveillance and security devices, by 2023 they will have 20%-25% of the connected-home market share, around 15% and 10%- 15% of connected speakers and lighting systems not far behind. Users interested in further research of this topic can log into Global Market Database to access ten-year market forecast data for free.
Smart thermostats, safety systems, intelligent light fixtures, connected cameras, and multi-room audio include the most popular point solutions to date for connected homes. Such products are sold by established OEMs, such as Honeywell, Danfoss, and Philips; manufacturers of products such as SFR, British Gas, Eneco, and Protection1; and brand-new newcomers like Nest, Ecobee, MyFox, LIFX, and D-Link. New entrants such as ADT, Vivint, Comcast, and AT&T in North America as well as eQ-3, RWE, Verisure, and Loxone in Europe have also identified themselves among the largest connected home solution vendors in their respective regions.
