IoT Forum on Smart Home

IoT Forum on Smart Home

The IoT Forum is focused on discovering innovation, exchanging knowledge, growing professional networks, and above all building partnerships across the entire IoT ecosystem.

IoT Forum members meet monthly in Silicon Valley to discover new companies and technologies, meet partner prospects in person, review market opportunities across the wide spectrum of connected things, and deep dive into a specific segment with the help of buyers and experts. This month, we are focused on innovation in Smart Home.

IOT FORUM ON SMART HOME
The consumer IoT space is heating up, with Smart Home tech being adopted at an accelerating pace. Customers are still entering the space via entry points like security, energy saving devices, lighting, pools, AV equipment, and smart speakers – but it's become clear that voice assistants are now the main catalysts for home automation. A new study from eMarketer estimates that 111.8 million people in the USA will use a voice assistant (phone or speaker based) at least monthly, up 9.5% from last year.

And the fight for control of the smart home means that providers of smart speakers, notably Google and Amazon, are pushing prices as low as possible to try to grab market share. Prime Day deals in summer 2019 had the Amazon Dot at just $22.

Once customers adopt these speaker/assistant devices, it becomes much easier to interact with smart switches, thermostats, etc. Voice Assistants are incredibly effective catalysts that reduce the barriers to adoption that have stymied the Smart Home market for decades:

  • Complex setup → Plug and play
  • Incompatibility → Cross-platform and capable hubs
  • Cryptic control systems and UI → Just bark out commands in natural language
  • Unreliable → ahhh…improved.

Although a little dated, a 2017 ComScore report found that households with a smart speaker are 6.6 times more likely to own smart lighting, 3.3 times more likely to own a smart hub, and 2.2 times more likely to own a smart thermostat.

Smart Homes used to be ALL about automation, but increasingly, this aspect is dropping in relative importance, being supplanted by "connected". Often products are sold as "useful as connected devices from the quick-start guide", and with operation through a hub or voice assistant. Then, deeper automation is available via the devices own app, think of a thermostat as an example. We'll look at the shifting role of automation in Smart Homes – and the newer ways of programming that.

So our meeting is not about only the voice assistants, but rather the products and Consumer Electronics growth they are enabling. The US Smart Home market is expected to grow steadily from about $5 Billion in 2018 to $53.45 billion by 2022 (The US leads the RoW in ecosystem maturity.) McKinsey reports an AGR for the connected home industry of 31%.Smart Smoke Detectors alone have an 250% annual growth rate.

Our meeting will examine how the industry is developing these beachheads to grow into the home. 

Join the IoT Forum community of buyers, sellers, tech scouts and technology companies to examine how the industry is developing these beachheads to grow into the home. IoT Forum meetings are short, packed interactive discussions with highly-focused networking and plenty of demos. Join us for a discussion of the Smart Home.

FEES & OPTIONS
Registration: $200 (free to members)
Demo Table: $500 (free to members)
Startup Discount: 50% to pre-revenue startups
Technology Pitch: Free by invitation; Apply Online

Details

  • When

  • Thursday, December 12, 2019
    10:00 AM - 12:30 PM

  • Where

  • Nokia
    200 S. Mathilda Ave
    Sunnyvale, California 94086
    USA

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