Devices are Getting Smarter, and We Love Them Like That
In the ’90s, the Internet of Things seemed like a cartoon or SF concept. Today, we use home automation systems, smart devices, and a lot of smart objects that involve embedded systems. The software development industry is one of the main pillars of IoT development as we know it today.
Back then, Kevin Ashton, a British technologist, launched the term. It defined a network which more than just connecting people, could connect objects among them. Today the smart objects’ network capable of collecting a large amount of data, and performing actions because of the analysis, is a reality we live in today. Even more, by the end of 2019, the number of publicly known IoT platforms plummeted to 620. In 2015, they were about 300.
Smart devices offer more security online
A recent study shows that worldwide, people will spend 115 billion USD on smart home systems. That leads to a prediction of 1.1 trillion USD spent on this market by 2023. This growth will most probably be driven by new technologies such as 5G. The research also points out that European IoT adopters mentioned security as a motivation for investing more into the Internet of Things. Businesses have prioritized cybersecurity since the massive movement online. In fact, in 2019, more than 120 billion dollars have been spent on security in IT. The reasons are quite clear: IoT reduces operational costs and improves efficiency.
Domotics – the technology behind smart homes
If you have not heard of Domotics, you have certainly heard about home automation. Domotics is the technical term for the niche within industrial automation (or building automation). It specializes in remote controlling small ecosystems like private properties, like your house, for instance. Using IoT, AI, robotics, and software interconnected they create smart homes that offer more comfort and security. Domotics rely on simpler interfaces, based on ergonomic principles. As a result, home automation can enable remote control of various elements of your home, from indoor climate to doors, home electronics, and appliances.
And that can only feed the enthusiasm and high demand for automation. According to GlobalData forecasts, the value spent on automated home smart devices passed 23 billion USD in 2018 and might hit 75 billion by 2025, growing annually by approximately 18%.
We love to spend more and more, and some more, on smart objects and devices
Who does not want to control things around them, at the tip of their fingers, right? Well, we, humans, are getting more comfortable with smart devices, as well as spending more on smart home systems. The benefit of controlling things from our computer or smartphone has made us invest in smart home entertainment systems, smart home appliances, security systems, and any other gadget that can make our life easier and more pleasurable.
If back in 2019 people spent 103 billion USD on smart home systems, by 2023, it’s thought that we will be spending around 157 billion U.S. dollars. A part of the growth could be due to the increasing popularity of smart thermostats used to control energy consumptions, as well as smart speakers. Smart speakers especially are more than an entertainment device. Many of them are smart assistants, like Alexa and Siri, that can respond to vocal commands and execute actions.