The Internet of Things (IoT) has brought multiple applications and new business models for the development of smart home, which in turn may also bring about a take-off for the smart home industry, according to Digitimes Research.
Previously, most smart home applications, including audio/video entertainment, security surveillance or home automation, were implemented through vertically integrated business models. However, the rise of IoT applications will contribute to the formation of the DIY smart home market and expand the coverage to include energy saving and home care.
Smart home services could also offer more value-added services by optimizing IoT applications at more affordable prices, Digitimes Research noted.
However, current equipment, chips, operating platforms, wireless technology, and related services for smart homes vary from platform to platform, causing confusion among consumers when they are purchasing equipment, Digitimes Research commented.