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The Consumer IoT refers to the billions of physical personal devices, such as smartphones, wearables, fashion items and the growing number of smart 比特币交易价格行情home appliances, that are nowconnected to the internet, collecting and sharing data.
The rise of connected devices in the future, will result in a demand for faster, cheaper and more secure hardware and software. More integrated solutions will be provided with the help of Artificial Intelligence, Cloud, Big Data and Blockchain.
On the one hand, the IoT market is driven primarily by technological innovations. On the other hand, changes in the lifestyle of today's society are also driving developments in the IoT sector. There are seven main drivers.
Digitalisation and the smartphone revolution have led to evermore compact, low-cost processing power, in addition to cheaper but more sophisticated sensors and cameras as well as ubiquitous wireless connectivity.
Advances in machine and deep learning are propelling the development of intelligent self-learning systems. The expected gains due to automation and improved data-driven insights are immense and will further drive progress in this area as well as within IoT.
Bluetooth, 5G, LiFi, NB-IoT or LoRa are just a range of new evermore present network technologies promising better and more network coverage, in addition to longer range and more energy efficient connectivity.
Decreasing costs for memory and storage solutions are enabling the collection of big data, as well as subsequent data analytics services.
Around 53% of the global population is connected to the internet, leveraging digital technologies many times daily to manage their lives. Today, 600 million people use voice-activated assistants once a week. As IoT devices are becoming cheaper, consumers are set to further experiment with and adopt all sorts for smart things.
Increasing awareness for climate change and resource depletion call for more sustainable and efficient energy generation and management. This in turn leads to a need for advanced IoT solutions that save energy, electricity and costs.
In today’s fast-paced world, people are looking for products and services that reduce friction, save time and ultimately lead to convenience and comfort gains. Being accustomed to personalised social media feeds, movie recommendations and product marketing, consumers are also expecting unique experiences and tailored products when it comes to physical products or living environments.
Here's an overview and illustration of the relevant trends around Consumer IoT, based on their appearance in trade media, mass media, patents and scientific publications.
Successful IoT products will integrate seamlessly into our lives and our 比特币交易价格行情homes until we forget that they are there and that we once did these tasks manually. Opportunities arise from invisible hardware which works (together) autonomously, automatically adjusts settings or intuitively via voice control.
One innovative idea is the Fitness Tracker Plus, a combination of a fitness tracker, a smart 比特币交易价格行情home hub and a task-automation app: The Fitbit Fitness Tracker can be connected to a Smart 比特币交易价格行情home Hub such as Wink to act as a personal sensor. In combination with the task-automation app IFTTT, your smart 比特币交易价格行情home can automatically make coffee, play music or start the shower when you wake up and lock the door once you leave the house.
The IoT brings us a new market for solutions that store, merge, process and protect data from smart 比特币交易价格行情home devices and personal gadgets. Companies can nourish this emerging market with their data and use the insights gained from IoT products and services to better understand their customers and improve their business processes.
This is what Neura had in mind when creating an AI engine that turns IoT environments (比特币交易价格行情home, personal, travel,...) into intelligent personal worlds. The engine connects to multiple data channels to provide a situational awareness. This allows the AI to get to know the habits and needs of its users in order to enable automated, seamless experiences.
The IoT promises to change the value chains of many industries once again. With smarter products, companies will be able to monitor and predict usage or buying behavior. This enables them to bypass intermediates and provide goods directly to the customer at the push of a button or by automatic ordering.
Like Amazon Echo Look, a new voice-controlled selfie camera that allows AI assistant Alexa to give you fashion tips and help you discover new clothes. The app uses a combination of machine learning and advice from fashion industry experts and helps Amazon to increase sales of its own fashion line.
To differentiate themselves in the growing consumer IoT market, suppliers must concentrate on the added value of smart solutions. In addition to collaboration between companies, personalised services are becoming more important. Both aspects increase the usability, perceived benefit and efficiency of an IoT product or service.
One example for this new business opportunity is Whirlpool's acquisition of Yummly to expand its food & curated cooking ecosystem. Consumers are now able to use Yummly and its image recognition app to discover recipes or order food and equipment. Afterwards, consumers can cook their meals using Whirlpool’s smart kitchen appliances.
27 billion devices have been connected over IoT in 2017. This number is expected to increase to 125 billion by 2030 – which means 15 connected devices per person.
The IoT market was already a $170 billion market by 2017. It is expected to grow to around $561 billion by 2022.
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