IoT Transforming Our Lives
I think it’s safe to say that the Internet of Things has proven to be a disruptive technology. Gradually, one device at a time, our homes are becoming smarter. The products provide security and convenience. We are truly living in the future that seemed so distant just a few years ago.
Rather than waiting for home builders to bring us the home of the future. Homeowners, as well as renters, have taken the matter into their own hands.
It starts with a smart bulb or a smart switch. Then, a smart lock, smart thermostats, sensors, a HUB and more. Our small and major appliances are all smarter, more efficient, and connected. Little by little our homes are getting smarter. There are cost savings to be realized not to mention the convenience of controlling your home via your smartphone.
As our cars get smarter, they too are part of the Internet of Things and are also connected to the web and to our homes. IoT has even found its way into wearable tech.
We have seen steady growth in smart homes with about 7.5% in 2018. Further growth potential for the IoT market is massive. IDC projects the number of installed units will grow to 82.5 million or 19.5% by 2020.
Globally, the U.S. has 32% of the total number of smart home devices installed with Norway close behind with 31%. Just under 20 billion dollars were spent in 2018 in the United States alone.
25 to 44-year-olds account for the largest percentage of total users which is about 60%.
The development of IoT technology has been progressing at a rapid pace and adoption rates increase year after year. The number of applications and choices has grown as new options and products become available.
The infographic below was created by safeatlast.co and it is being republished here with the publisher’s permission. It takes us through 43 interesting facts about Smart Homes and what the Internet of Things technology brings to modern life.
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More on this topic: IoT Technology Trends You Need to Watch in 2018