By 2022, five billion connected things will be installed in homes, up from 10 million connected devices in 2000.
This 22-fold increase in connected home devices will have a profound impact on the way consumers live. The trend has already started. For example, smart TVs collect users’ viewing habits and search histories to deliver highly targeted ads.
Home appliances are also becoming smarter, with the latest models including self-cleaning functions or apps that connect you to service providers for remote maintenance. According to research company Gartner, 46% of companies are now using IoT technology for predictive maintenance programs alone.
Considering that there are more than 20 billion household appliances worldwide, this is a massive opportunity for companies to leverage data to deliver great customer experiences.
The connectivity of everything will also lead to the emergence of the invisible home – a smart living environment where everything is connected and can be controlled remotely.
With this development, users will have unprecedented control over their houses, allowing them to monitor their energy use or check if they’ve left the oven or lights on before they leave the house. As well as saving money, this could help reduce CO2 emissions by reducing energy consumption. And with security alerts about burglars posted direct to users’ smartphones, the benefits are obvious too.
Data will continue to grow—that’s a given. But how it grows will have a big impact on what we can do with it.