Big buzz doesn’t always mean big money, or in the case of the smart home, widespread adoption. Michael Wolf, one of the industry’s most well-known IoT and smart home analysts, offers a refreshing, and honest, perspective on the smart home market in his recent article “The Coming Smart Home Shakeout.”
“The smart home industry is trying to figure itself out, Wolf said. “Companies like Best Buy, Lowe’s and others that have jumped into this market with gusto aren’t always seeing the type of demand they want for the products given the amount of shelf space they’ve allocated.”
The smart home products that are getting noticed by consumers? The ones that they understand—and understand a true need for—Wolf explains.
The group of experts gathered to discuss how low awareness and limited familiarity with smart home products and services create significant challenges for channel partners, especially as the market transitions from early adopter to early majority. This panel discussed the challenges in guiding consumer decision processes and the ability of different channels to overcome barriers and drive the next wave of smart product and service adoption.
If this year’s International CES was any indication, 2015 will be the strongest year yet for the smart home category. As many startups focus on creating innovative gadgets, a bigger battle is taking place for the platform that will control the smart home.
CES, the world’s largest consumer electronics show, will bring together the most innovative products and companies from around the world. The connected home, also known as the smart home, is one of the fastest growing categories within consumer electronics. At this year’s International Consumer Electronics Show in Las Vegas, January 6-9, smart home technologies and gadgets will be among the most highly anticipated attractions.
The Internet of Things has changed the way companies approach customer relationships. Sell it and forget it is a thing of the past. Customers have new expectations for the organizations– and people–that they buy from.
In Here’s Why Every Company Is A Service Provider In The Internet Of Things Era, Michael Wolf says, “By maintaining ties with your customer and providing an ongoing service relationship over the life of a product, chances are you’ll see benefits in lower overall support costs, higher customer retention, and better product understanding (which ultimately means better product creation).”
He goes on to explain how the landscape has changed.
Resolution’s Helix™ platform places security dealers directly in the IoT market!
There are countless research reports, numerous acquisitions and continued corporate investments being made to pursue and understand the Internet of Things. Gartner indicates this market will reach 26 billion units by 2020, delivering over $300B in incremental revenue.Cisco projects 50 billion devices will be connected by 2020. Intel is much more optimistic, projecting over 200 billion in the same year. A theme consistently reported by market research firms, corporations and economists is that devices will be connecting to networks at a feverish pace. Business models will evolve to monetize the expanding ecosystem of communicating devices. Many new entrants will likely look to security dealers as a path to accomplish this, given their proven delivery of services around connected sensors.