IoT In Consumer Space 2017

Published May 12, 2017 by Soubhik Chakrabarti

Almost 63% of users of the Internet of Things (IoT) come from consumers, making them the largest demographic to join the trend. This number continues to increase. Gartner estimates that the consumer segment will have as much as 5.2 billion units this year, which accounts for around 63% of the overall number of IoT devices in use.

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IoTs in consumer space varies from wearable devices, home appliances, transport, vehicles and a variety of other things.

The Top IoT products in the Consumer Space

Smart Home
Open the front door or switch off the light with a simple click of the device – it’s all possible now.

Wearables
Monitor everything from the heart rate to the calories burnt and more. In fact, Google has created smart contact lenses that can be used to detect blood glucose levels.

Connected Cars

It’s aimed to help you protect and take control of your car no matter where you are - there are many connected car devices already available.

 

How Will IoT Impact the Consumer Space in 2017?

IoT in the consumer space is still in its infancy, and 2017 could be a milestone year.

 

#1.  Smart Home

By the end of 2016, 47% of consumers already have some sort of smart appliance in their home that would qualify as an IoT device. Devices like smart televisions or smart washing machines are set to sell more this year.
In fact, statistics suggest that 17% also have some sort of internet controlled remote device  while 31% more are definitely interested in buying such devices.
There is also a rising interest in increasing home security with the help of IOT devices. Security systems and kitchen appliances are the fastest growing areas in the field of “smart” homes.

 

#2.  Wearables

2017 may just be the year when wearables will witness a widespread growth. Most of the wearables we see today have been restricted to fitness trackers and smartwatches, but that is changing fast.
Smart wearables are predicted to reach millions of units by 2025 and be worth more than $34 billion by 2020. Now, newer wearables, like smart shoes made by Under Armour, help get more accurate statistics on health vitals. According to Hyungjin Cho, the most valuable information “comes from the foot”- a fact he knows well as he is CEO of Salted Venture, a company that created the Iofit smart balance connected shoes.
There is, of course, new smart jewelry too, which acts as a protection device and can be used by a person to alert others in case of an emergency with the simple push of a button.
The wearable we are looking forward to the most is VR wear and eye tracking. While Oculus is still a bit far away, Fove will be shipping its eye tracking VR headset soon.

 

#3.  Connected Cars

IoT connected cars have always been a major area of interest. Embedded and hardware cars are brilliant example of IOT devices. Embedded cars allow you to connect to your cars with the help of antennas, and hardware cars help you do so with the help of smartphones.
App integration and self-driving cars such as Google's Waymo  have also revolutionized the ways of transport and will no doubt continue to dominate consumer space in 2017 as well.

 

#4.  IoT in HealthCare

While the healthcare industry has slowly integrated Internet of Things into itself, it stands at the door of major changes in 2017Digital health technologies and smart injectables are some of the exciting things we should see this year.
There is, for instance, the Smart Body Analyzer, which can do an immediate body assessment and inform of any deficiency in your body balance – ensuring you’ve access to the body vitals at all times. Some, like the ones from Withings, could even track indoor air quality. You get the data transferred to your iOS or Android device, and can access it easily, anytime you want.
There are other devices like the Smart Stress Management device, which can measure the Electrodermal Activity within your skin, which can act as an indicator for an individuals’ stress response.  PFizer's Moodivator App is another such device designed to help patients at home with depression.

IoT makes it easier to regulate and monitor health issues in patients – from interoperability of machines, remote monitoring of patients after their release, to securing medical records and more. And 2017 will help IoT become more integrated within the healthcare system.

 

What we think about the current scenario of IoT in consumer space in 2017

IoT in consumer space solves different purposes – it helps get work done faster, makes tracking health vitals easier and eases up daily life activities. Consumer applications using IoT will itself total a whopping $725 billion in 2017.

Companies are pushing in IoT devices towards consumers, and most IoT enabled devices can connect to Apple and Android. While that does bring about important questions about security of IoT enabled devices – which we  have discussed in another post – it sure does present exciting possibilities for the average consumer.  How will it affect you? We’d love to know your experiences.

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