Published on Oct 5, 2016
Updated on Oct 15, 2019
Technologies evolution is impacting our life every day in ways never seen before. Most of the change is for good. Cloud, Big data, Analytics, AI and IOT(Internet of Things) are all very hot technology spaces. IOT has truly caught the attention. It not only solves your problems in real time, but also maintains a crucial connection with the other technology spaces.
Connected devices is not a very new thing as it has been happening in industrial settings for a while. A large number of varied devices are connected to make world-class production systems. However, the use of the smaller devices connected over the internet is definitely a breakaway idea.
The market size of IoT is expanding rapidly; the industry is expected to grow up to USD 883.55 Billion by 2022, at a CAGR of 32.4% between 2016 and 2022. Nearly 10% of this would be coming from home automation.
Home automation systems leverage this technology to create user experiences not thought of before. Companies like Apple and Nest have created compelling connected home kits which can work with market devices as well. It is a different question about how many such devices are available.
