The Smart Home Is Coming & It’s Closer Than You Think!

Time for some IoT porn – we all know the “Internet of Things” tends to associate itself with some frighteningly large numbers, many of which are utterly unverifiable, but it’s fun thinking about some of the disruption IoT will cause if the likes of Bezos, Page etc. make good on their promises.

According to a survey thingy from IoT World News, the size of the IoT market is currently around $157bn, but by 2021, says the survey, it will grow “exponentially” to more than $662bn dollars!

And that means the market for smart buildings will grow too; from $6bn, to $25bn. That’s a talking fridge and voice activated lights for a whole lot of affluent middle-class families.

The number of connected devices in cities is already estimated at close to 2 billion; well, there will be another 1.2 billion before 2018, research from Gartner suggests.

A lot of the developments and progress made will occur in Asia, which currently generates 25% of global facility services revenue, and China alone will be responsible for 46% of the Asian Smart Building market – there are already 36 “smart cities” and a further 300 more in the pipeline in the country.

What do people want from their smart cities and homes? They want energy saving and sustainable technologies above all, and to be able to meet regulatory requirements so they can save cash over the longer term, and avoid having to be constantly updating and upgrading to keep pace with regulators’ demands.

Home dwellers also want analytics, and businesses want information on employee productivity, and asset productivity.

This all sounds great – big-brother like, granted, but as always, it depends who is operating the controls – let’s hope it’s the great and the good, not Bane from Batman.

There are 2 major obstacles to progress however – computing and market to market costs – people are unwilling to pay up-front, despite the long-term benefits, and a highly-fragmented marketplace; how do you choose between the people promising you the talking fridge and the people promising voice-activation?

Future world problems ‘eh. Right now, we’d be happy if we could find the right light-bulb for our desk lamp.

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