Why the Internet of Things (IoT) is Slowing Down

While the IoT creators have promised the public a simplified, smart home filled future, it seems that the concept is not taking off as planned. In fact, some think IoT is a hyped up trend that is not here to stay. While some IoT products have become popular in the past few years, the lack of excitement on the matter was not expected. Insiders say that there is a barrier keeping people from purchasing these devices. For example, many smart home devices cannot talk to each other. Each one has its own hub or smartphone app. Nothing has a single command center and people are overwhelmed by the excessive apps for each product.

Additionally, many people are still confused on the IoT concept and why it could be an asset to their lives. Instead of selling people products that fix problems they did not realize they had, IoT should be fixing problems people are really struggling with. While these types of products may not be as cool as the former product, these products would definitely sell more and be more useful.

Here are some types of products to help IoT to get back on track.

·         Security- people work hard for the things they own and nothing is worse than fearing you, your family, and your possessions are in danger. While there are some IoT products currently on sale for security, many of these products are flawed. People are not purchasing them just yet because they have not found a single product that can do more than their security company already does.

·         Loss- almost everyone has lost something at one time in their life whether it is their wallet, keys, or their phone. Location tracking could make it extremely easy to find these lost items. While the Tile brand does exist in this area, other businesses need to take advantage of this as well and give customers more choices.

·         Seniors- there’s a lot of market space for IoT to conquer the senior world. These products should be geared towards older Americans and helping them live safely. Since many people are often conflicted with an accident happening by letting their aging parents live alone or their parents being unhappy in assisted living, IoT products could help give people peace of mind. With the use of motion sensors and paging services, people would no longer have to worry about their parents. The possibilities are endless for this market and the IoT definitely needs to explore the opportunities

IoT is expected to grow immensely in the next few years. Instead of making cool gadgets, IoT creators need to start making gadgets that solve problems that people currently have. By exploring new markets, IoT has the potential to grow far more than they ever expected.

 

 

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