The Internet of Things (IoT) Will Transform Your Home
What exactly is “The Internet of Things?” It’s an interconnected world in which smart, connected products will communicate and interact with other devices, exchange data, make autonomous decisions and perform useful tasks based on preset conditions. According to an article in The Harvard Business Review, this “machine to machine” communication and IoT connectivity is “driving dramatic improvements in product functionality and performance” due to massive amounts of new product-usage data.
Many homeowners are already using smart, connected products like lighting, garage door openers, thermostats and security systems and controlling them remotely, through smartphone apps and computers. But in the near future, these devices will be interconnected, and even sending data back to manufacturers with alerts when a problem is imminent or service is needed. Wouldn’t you like to know your air conditioning unit is going to break down a week or two prior, so you can replace it or make any needed repairs proactively? The Internet of Things and smart, connected products will make that vision a reality.
Retailers are on the IoT Bandwagon
Technology companies, with PTC at the forefront, are moving quickly to capitalize on the smart home opportunity, and retailers are following suit.
According to Fortune, Best Buy is making a major attempt to establish its stores as a one-stop-shop for smart home technology. Best Buy has opened 400 dedicated sections in stores to promote smart-home products and ride the wave of IoT technology.
Best Buy's website states some of the benefits of a smart, connected home: Not only is it reassuring and cool to keep tabs on your home, you can lower energy costs in the process, and feel the comfort of knowing you don’t have to drive home to check on the house.
Other well-known retailers offer an array of smart home products, including The Home Depot. Wink is a platform that enables users to connect and control different smart product brands all from a single app.
The Home Depot carries products that are “Wink app ready” (products communicating with a home Internet router) and “Wink app compatible” (products requiring a hub as a translator). According to Wink, once people buy their first smart, connected device, they are likely to buy more.
Your Home is IoT Ready, Are You?
With the growing wave of IoT technology and its associated data, there is a good chance that someday your house and it’s smart, connected products could be smarter than you. With this new technology, there are inherent privacy and security concerns. Homeowners should educate themselves about the risks and take preventative measures to ensure they stay a step ahead and their household data remains secure.