The Consumer IoT refers to the billions of physical personal devices, such as smartphones, wearables, fashion items and the growing number of smart home appliances, that are now
connected to the internet, collecting and sharing data.
The rise of connected devices in the future, will result in a demand for faster, cheaper and more secure hardware and software. More integrated solutions will be provided with the help of Artificial Intelligence, Cloud, Big Data and Blockchain.
The progress of Personal IoT devices by our longing for real-time support, constant entertainment and instant connection to everything.
Moreover, integrated & intuitive personal IoT devices eliminate barriers between digital and physical, human and machine, acting as an interface to everything connected to the IoT, whether it is a human, a car, our home, or retail space.
The home of the future will support our living standard and wellbeing with intelligent, interconnected technologies and task automation.
Smart home products and services are on the rise, allowing us to easily adjust the ambience of our home, to lower our energy consumption, to take over annoying chores and to recognise individual wishes immediately thus leaving us with more time for the things we love.
We are already aware that things are becoming smarter around us, however, increasing smarter things are on the horizon. And with every new smart thing comes a new business opportunity.
Successful IoT products will integrate seamlessly into our lives and our homes until we forget that they are there and that we once did these tasks manually. Opportunities arise from invisible hardware which works (together) autonomously, automatically adjusts settings or intuitively via voice control.
The IoT brings us a new market for solutions that store, merge, process and protect data from smart home devices and personal gadgets. Companies can nourish this emerging market with their data and use the insights gained from IoT products and services to better understand their customers and improve their business processes.
The IoT promises to change the value chains of many industries once again. With smarter products, companies will be able to monitor and predict usage or buying behavior. This enables them to bypass intermediates and provide goods directly to the customer at the push of a button or by automatic ordering.
To differentiate themselves in the growing consumer IoT market, suppliers must concentrate on the added value of smart solutions. In addition to collaboration between companies, personalised services are becoming more important. Both aspects increase the usability, perceived benefit and efficiency of an IoT product or service.
SONAR is an innovative, Data-as-a-Service Tool for quantified foresight. It recognises, compares and analyses existing trends, and identifies new developments in real-time.