Data Storage For Next-Gen Products Is A Billion-Dollar Industry. Leaving Many Smart Device Makers Struggling To Stay Afloat.
Leeo, a smart home alert maker, is having financial issues. While they have a lot of customers, they are drowning in the data costs. The Smart Alert is a device that the users can install in their home and use the Leeo app for receiving notifications and alerts. The app monitors the humidity, temperature, alarms, and more for free, which means Leeo is footing the data storage bills. Data storage for next-generation products is a billion-dollar industry. The information these new connected devices collect on users is unprecedented, and expensive to store.
These smart devices know our whims and fancies, our preferences and dislikes, and all this data needs to be stored somewhere. And someone has to pay for it to be stored. Some companies like Nest charges for storage while others don’t. However, many companies have started offering storage for free in order to boost adoption rates. While well-established companies can deal with this financially, the others drown in the costs. Eventually, it looks like consumers will have to take on the charges for data storage.
Once paying for storing this data, users, however, likely demand more control over this information they’re paying to hold — including having the right to make the data disappear.
It all boils down to whether customers are willing to pay for the data storage and have control of their smart homes.
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