I am an enthusiast for smart devices and an early adopter of new technologies. I am fascinated by how far we have come and cannot wait to see how these devices will further transform our lives and work.
The landscape of IOT devices is evolving rapidly, driven by the relentless pace of technological advancements. As IDC predicts, by 2025, there will be 55.7 billion connected IoT devices, and consumer-connected devices will account for a significant portion. This surge in connected devices is revolutionizing how big tech companies and platform players create great customer experiences and enrich consumers’ lives.
A recent Capgemini Research Institute Report on Connected Products suggests that 67% of surveyed consumers consider connected products a necessity. At the same time, one-third use some connected product at any time of day or night. 37% of consumers think they will own more connected products in the next 12 months than they do now. Smart home security and health wearables are the connected products consumers plan to purchase in the next 12 months. Voice assistants and health wearables provide positive consumer experiences.
Consumers are unsatisfied with the current state of data privacy and integration of connected products.
Consumer-connected devices, such as smart home assistants and wearables, have grown exponentially in recent years. These devices offer convenience, personalized experiences, and enhanced lifestyle management, making them indispensable for modern consumers.
Have you ever wondered why Smart Devices, also known as Consumer-Connected Devices, i.e., Pixel Phone, Meta Quest Headset, and Alexa Voice Assistant, are so crucial for Google, Meta, Amazon, etc, even though these products might not significantly contribute to the revenue compared to the core businesses of these platform companies?
In today’s digital era, the emergence of consumer-connected devices has completely transformed our interaction with technology. For platform companies, these devices are not just a part of the technological landscape; as listed below, they play a vital role in shaping the future of how they drive consumer engagement, get user behavior insights, deliver services, and gain customer loyalty.