The needs of consumers are constantly evolving along with the constant overload of information and the rate at which technology is advancing. This has led them to ask for more than just standard devices, ones that require pushing a button to get them to do their basic functions. They want devices that are smart and interconnected, sharing large amounts of information, to enhance user experience and anticipate their needs. Consumers want what are known as IoT devices.
What are IoT Devices?
Simply put, Internet of Things (IoT) devices are non-standard devices that have software and hardware capable of connecting to wireless networks and transmitting data. They leverage internet connectivity to communicate with each other and interact. Plus, they can be accessed, operated and monitored remotely.
Knowing what IoT devices are, one can easily imagine use cases where they can be a big help. One concept that is really appealing to consumers is smart homes. Imagine pulling up on your driveway and having your smartphone “tell” the garage door to open. The garage door then sends a signal to your smartwatch or any other smart wearable that you have arrived home. Your smart wearable “knows” you have had a stressful day judging by your heartbeat and will turn on your entertainment system and play some relaxing music. Meanwhile, your smartphone has communicated with the thermostat about the temperatures outside, making it adjust the settings to your liking.
Are IoT Devices Better than Standard Devices?
Judging by the definition of IoT devices and the use case above, one can see why manufacturing these devices for consumers over standard devices is a good idea. As you will see, IoT devices do a lot more to improve the quality of life for consumers.
One major advantage is that IoT devices require less human intervention (sometimes none at all). Since these physical devices are connected and constantly communicating, they are able to anticipate user needs and act independently in an automated fashion. This is extremely efficient and faster than the user having to manually fiddle with the device every time to get it to operate the way they want.
If there is anything a majority of consumers do not have is time. The pressures of modern life are quite demanding, and the previously-mentioned example of smart homes is one that can save them a lot of time. Since IoT can be a massive timesaver, consumers would pay a pretty penny to get their hands on one of these devices since they can allow them to focus on other things rather than perform repetitive tasks.
IoT devices are more efficient that than standard devices. With the way they share information about everything makes, they can all operate in ways that can lead to huge energy savings.
Also, IoT devices can be better monitored than standard devices. Imagine if a user left their home without turning off the air conditioning unit. With IoT, the user can easily monitor the situation and switch it off remotely to save energy. Another advantage of monitoring is that a smart fridge can be able to alert the user if they are running out of milk or if certain foods are about to expire.
As you have seen IoT trump standard devices. As of 2017, they were 8.4 billion IoT devices in use, which was 31 percent more than the previous year, according to Gartner. The data shows that the use of these devices is rising rapidly, offering a growing market for many companies. In fact, conservative estimates predict that by the year 2020, there will be 200 billion IoT devices in use. These devices are a trend now and will continue to be for the foreseeable future.