Skip to main content

Here's why current smart home device owners are appealing to tech companies

This is a preview of a research report from Business Insider Intelligence, Business Insider's premium research service. To learn more about Business Insider Intelligence, click here.

Not that long ago, many home-appliance and consumer-electronics makers were gearing up for what they thought would soon be a rapidly growing market for smart home devices.

The instant popularity of the Nest thermostat, introduced in 2011, seemed to confirm their hopes. But those expectations were dashed in the coming years as the market for connected home devices later stagnated. 

Even with these challenges, many of the biggest consumer technology companies are now moving into the smart home market. For example, Apple, which recently released its self-installed smart home ecosystem, called the Apple Home, traditionally doesn't move into a market until it's very mature and only when it can release a perfected product. Further, Google this fall launched the Google Home and its companion ecosystem, hoping to jump into the voice-activated smart home speaker market, which Amazon currently dominates with its Echo product line. 

In a new report, Business Insider Intelligence examines the demographics of the average smart home device owner and discuss why current smart home device owners are appealing to tech companies. The report also examines the plans of various tech giants in the smart home market and discuss their monetization strategies, and makes suggestions for how these companies can position themselves to make their products and devices more appealing to the mass market.

Here are some key takeaways from the report:

  • Tech companies primarily enter the market to enhance a core revenue stream or service, while device makers desire to collect data to improve their products and prevent costly recalls.
  • We forecast there will be $4.8 trillion in aggregate IoT investment between 2016 and 2021.
  • These companies are also seeking to create an early-mover advantage for themselves, where they gain an advantage by this head start on adoption.
  • Major barriers to mass market adoption that still must overcome include technological fragmentation and persistently high device prices.

In full, the report:

  • Details the market strategy of prominent tech companies and device makers, and analyzes why which ones are best poised to succeed once adoption ticks up.
  • Offers insight into current ownership through an exclusive survey from Business Insider Intelligence and analyzes what demographics will drive adoption moving forward.
  • Explains in detail which companies are poised to succeed in the market in the coming years as adoption increases and mass market consumers begin to purchase smart home devices.

 

Join the conversation about this story »

NOW WATCH: The CEO of one of the largest health insurers in the US explains the problem with healthcare in America



from Tech Insider https://ift.tt/2kkpRpk
via IFTTT

Comments

Popular posts from this blog

Instagram accidentally reinstated Pornhub’s banned account

After years of on-and-off temporary suspensions, Instagram permanently banned Pornhub’s account in September. Then, for a short period of time this weekend, the account was reinstated. By Tuesday, it was permanently banned again. “This was done in error,” an Instagram spokesperson told TechCrunch. “As we’ve said previously, we permanently disabled this Instagram account for repeatedly violating our policies.” Instagram’s content guidelines prohibit  nudity and sexual solicitation . A Pornhub spokesperson told TechCrunch, though, that they believe the adult streaming platform’s account did not violate any guidelines. Instagram has not commented on the exact reasoning for the ban, or which policies the account violated. It’s worrying from a moderation perspective if a permanently banned Instagram account can accidentally get switched back on. Pornhub told TechCrunch that its account even received a notice from Instagram, stating that its ban had been a mistake (that message itse...

If only your bike had a trunk. Oh wait, now it does.

Just to let you know, if you buy something featured here, Mashable might earn an affiliate commission. Biking is one of the best ways to get around, especially if you live in a city. It's quick, it's eco-friendly, and you get a bit of exercise.  If you already commute on two wheels or are thinking of starting, there's a storage device you kinda need. SEE ALSO: This bamboo keyboard combo adds a touch of tranquility to your workspace The Buca Boot is a pretty magical two-in-one hybrid: It’s a super secure storage box for your bike that works like the trunk of a car. You can lock your helmet or whatever else in it and leave it safely behind. It’s also a basket—open it up, and you can carry a bouquet of flowers and a baguette like the picturesque cyclist of your dreams.    Read more... More about Storage , Car , Bicycle , Trunk , and Cyclist from Mashable http://ift.tt/2eHNwLB via IFTTT

California Gov. Newsom vetoes bill SB 1047 that aims to prevent AI disasters

California Gov. Gavin Newsom has vetoed bill SB 1047, which aims to prevent bad actors from using AI to cause "critical harm" to humans. The California state assembly passed the legislation by a margin of 41-9 on August 28, but several organizations including the Chamber of Commerce had urged Newsom to veto the bill . In his veto message on Sept. 29, Newsom said the bill is "well-intentioned" but "does not take into account whether an Al system is deployed in high-risk environments, involves critical decision-making or the use of sensitive data. Instead, the bill applies stringent standards to even the most basic functions - so long as a large system deploys it."  SB 1047 would have made the developers of AI models liable for adopting safety protocols that would stop catastrophic uses of their technology. That includes preventive measures such as testing and outside risk assessment, as well as an "emergency stop" that would completely shut down...