Collaboration Is Key To Competing In The Smart Home Market
With so much demand for connected devices, companies will soon have to start working together, according to a research firm. By 2022, sales of smart products will reach $123 billion.
Under that umbrella is more than you ever thought: not just speakers that listen for you to wake them up, but also devices that help manage health concerns, home entertainment, energy control, security, home maintenance and those that can bring personalization to someone's living space like lights that turn pink when your favorite John Hughes' flick is playing.
ABI research has identified 6 categories, all of which have been impacted by smart home devices. The ecosystem shows that smart home is now moving over to smart cities and smart mobility, for which the companies will need to collaborate.
Though Google and Amazon have conquered the market, there are hundreds of other brands coming up with something new all the time. The number of connected devices is increasing at a rapid pace. Consumers are expecting the features to increase all the time. When you think about it, launching a new smart gadget is not really that difficult. Crowdfunding sites make is a simple matter to raise funds and attract consumers.
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