2 December 2022
The Internet of Things (IoT) is one of the most common elements of any sci-fi narrative. J.A.R.V.I.S. taking care of Stark Mansion in Marvel Cinematic Universe or Star Trek’s food replicators — these and many other examples seem to be the perks of a distant future. But is this future so distant?
- According to Omdia’s ICT survey, almost 70% of decision-makers from 56 countries across 15 major industries think IoT will gain more importance in the nearest future.
- The number of global IoT connections in 2021 grew to 12.2 billion active endpoints.
- And the global IoT market amounted to $389 billion in 2020.
IoT technologies have already been successfully implemented in many industries to automate and optimize working processes. Today, this future is coming to our homes. IoT in smart homes is no longer anything extraordinary: Statista forecasts the number of households with home automation systems will exceed 400 million worldwide by 2025.
What Is IoT?
Although people often use the term in rather futuristic contexts, the technology has been around for a while. Technically, even the first ATMs were the Internet of Things devices. The story also goes that the first IoT device was a Coke machine built in Pittsburgh, Pennsylvania, in the 80s. However, other sources mention 1990, when John Romkey created a toaster that could be switched on and off over the Internet.
The Internet of Things (IoT) is a network of physical objects with built-in technologies that allow them to interact with each other and the external environment, transmit their state reports, and receive data from the outside world. IoT devices can perform tasks without human supervision.
As recently as 2014, most people, 87%, did not know what the Internet of Things was. And already by the end of 2019, the world had 620 publicly known IoT platforms. IoT technologies steadily penetrate all industries. Any area of human activity that can be automated either has already implemented IoT (at least partially) or will do so soon. There are thousands of ways to use IoT algorithms in logistics, transportation, construction, and healthcare.
What Are Smart Homes with the Internet of Things?
A classic IoT example is a smart home, also known as home automation. It’s a living space where, for example, you can turn the lights on and off with a voice command or program your coffee machine to make your morning espresso right before you wake up.
Smart home functions as a “hub” connecting multiple devices into a shared network where they can “communicate” with each other, gather information, process it, and exchange data with each other, a homeowner, cloud, or servers in data centers. In smart homes, people can control devices in such networks remotely.
IoT for home automation is not limited to a mobile app that can switch on your AC remotely. These technologies include sensors of various functionality types: detecting movements and controlling light, sounds, humidity, and pressure. Ideally, such automation systems should be able to independently manage natural and artificial lighting, energy consumption, indoor microclimate, multimedia devices, and home security according to your settings.
IoT Home Devices
Home automation using IoT is usually purpose-specific. The gadgets are grouped according to their functions.
Simply put, home automation aims to optimize human life and make it as comfortable as possible. It makes the technology very appealing — there are almost 259 million smart homes worldwide which equals 12% of global penetration.
Latest IoT Trends
The IoT universe is expanding, rapidly entering new markets, and regularly encompassing recent trends.
- In 2020, CES, the annual trade show organized by the Consumer Technology Association, introduced SmartyPans, smart cooking pans that can control temperature, weigh food, and memorize recipes.
- Interactive smart mirror ICON.AI is equipped with the built-in voice assistant Amazon Alexa and can diagnose skin diseases or help you choose makeup.
- Smart home apps like Philips Hue: Smart lighting, Amazon’s Alexa, and Samsung’s SmartThings have been top-rated for quite a while.
IoT devices for home and comfortable lifestyles make up a great part of the global technological market, creating a niche with numerous investment opportunities. Here are four trends worth mentioning.
#1 Improved Voice Assistants
Voice assistants are a big part of home automation using IoT, evolving quickly. Today, voice control is used in smart toilets, showers, refrigerators, door locks, and automatic garage doors.
Although it’s most prevalent in English-speaking countries, the rapid development of speech recognition algorithms brings it to many other regions around the globe. According to Juniper Research, digital voice assistants will reach the eight billion mark by 2023. The Google Voice Assistant learned to translate text into 42 languages.
However, such solutions are learning to recognize other sound information as well. The second generation of sound recognition systems for smart devices can distinguish the acoustic context. Eventually, IoT gadgets will start the alarm when hearing the sound of broken window glass or wake parents having heard the child’s crying at night.
#2 Smart Home Biometric Technologies
Biometric technologies have helped significantly improve law enforcement and private security sectors. Now, these algorithms successfully migrated to the tech business. We unlock smartphones with facial recognition or fingerprints. With the rising concerns about home automation and overall security, biometrics confidently becomes part of connected home ecosystems.
More companies develop solutions with smart doorbells, built-in facial recognition algorithms, cameras, motion detectors, and voice communicator devices. Such software recognizes faces in real-time and stores the data in the company cloud. The app tells you if it’s your friend at the door or pizza delivery. Smart doorbells are expected to have some “face memory”: they would memorize several people from your household’s close circle. Combining smart doorbells with biometric fingerprint door locks enhances the system’s security.
#3 Energy Saving Without Compromising Comfort
By choosing a smart home connected to the Internet, users not only manage household appliances but also can save energy. Don’t want to waste energy running the heater or AC when nobody’s home but still want to arrive in your preferred microclimate? Easy. IoT home apps will switch everything on when you are on the way home.
These applications allow users to create routines that include many devices requiring electricity. Your Alexa will turn the lights on and off according to your schedule, and special censors will switch off the outlet if you forget to unplug the iron.
Smart homes can also control the devices using geolocation. When you leave the house, the system automatically turns off the light and, for example, lowers the temperature. When it registers you coming back, it sets a comfortable temperature in advance and turns on the lights once you are home.
#4 AI and Data Analytics
Artificial intelligence (AI) and the Internet of Things were meant to blend evolving hand in hand. All voice assistants are humanity’s first steps in creating an artificial mind as we imagine it in Sci-Fi movies and TV shows. Although it’s still a long way ahead, AI is already essential for home automation systems and data analysis.
AI algorithms play a significant role in data collection and processing. Being created to mimic the human brain’s activity, they can process huge amounts of data in seconds. The same tasks would take a human years to perform. It positively impacts decision-making in smart city management and massive automated production.
For smart homes, it ultimately means AI will analyze human behavior to make life easier with no effort from our side. It will learn to personalize user experience based on collected and processed data.
Internet of Things Beyond a Smart Home
The IoT market is growing rapidly, opening billion-worth investment opportunities and new niches. The Internet of Things goes beyond simple light control. With tremendous implementation potential, these technologies can enhance your existing business or develop a new product concept.
At Rocketech, we apply a multi-domain approach to product development, helping our clients discover profitable ideas, enter new markets, and scale their businesses. Contact us for more information.