Tag Archives: consumer IoT

IoT and the Edge Markets and Trends

Top 10 Worldwide Connected Devices and Consumer DX 2020 Predictions

Connected Devices FutureScapes 2020

This blog lists the top 10 worldwide predictions for connected devices and consumer digital transportation. These technology predictions are meant to help the players throughout the connected device and consumer DX ecosystem with strategic planning within a typical five-year cycle.

Read More
IoT and the Edge

The Consumer IoT Market at a Glance

consumer IoT Market Glance

The consumer Internet of Things (IoT) market is crowded and complex, with several market segments that organizations must consider when evaluating their needs. IDC’s newest snapshot of the consumer IoT market shows the wide array of technology suppliers currently in the market, and how specialized needs have become.

IDC anticipates that the worldwide consumer IoT market will witness substantial growth over the next five years as consumers become more aware of the conveniences, cost savings, and energy efficiencies that connected devices and services can provide. The market’s growth will further be driven in part by rising broadband penetration, rising disposable incomes in developing countries, and increasing consumer awareness of smart assistants. However, consumer concerns around privacy, security, costs and interoperability will constrain the market’s development for the near future.

This wave of growth has already started, as evidenced by the wide array of vendors inhabiting the consumer IoT space today. In order to break away from the pack, vendors will need to find ways to differentiate. Here are two key areas of differentiation that vendors should pay attention to:

Data Collection and Analysis are Keys to Success

Across both the DIY and managed solution segments, data collection, management, and analysis are key to evolving and growing home IoT solutions, and that data flow is contingent on diverse and early gains in users. Successful vendors will strategize around how to boost that data flow through introducing broader sets of applications, increasing the number and type of users, creating unique solution sets, and intensifying the usage of applications.

Service Delivery Strategies Are Important

Device makers should develop a long-term strategy for service delivery. While device elements such as design and reliability are necessary for success, differentiation and margins lie elsewhere. The services enabled by software provide a solution’s sustainable distinction. IoT-enabled consumer products are accelerating the consolidation of value in services while diminishing the margins in the devices themselves.

Learn more about the consumer IoT market and see what trends vendors should be aware of in IDC’s Market Glance: Consumer IoT.

Read More