The integration of the IoT in consumer electronics market brings together a diverse range of functionalities such as sensing, actuation, and control, resulting in smart and energy-efficient IoT electronic devices. As a result of its capacity to conveniently link to the manufacturer’s network through the internet, as well as its ability to transmit useful information such as product performance, usage trends, and energy consumption, it has proven to be one of the industry’s most significant high points.
Recognizing the market’s current expansion, Market Research Future (MRFR) has recently published a study report predicting that the global Consumer IoT market will reach $124 billion by 2023, expanding at a compound annual growth rate of 24.16%.
Due to its ease of convergence with numerous technologies and real-time monitoring and feedback, IoT is prevalent among consumers worldwide. Currently, the Internet of Things in consumer electronics is a vast network with a growing number of devices. And the utilization and popularity of its applications and use cases will only increase.
ACS & remote controller
Consumer IoT (CIoT) is a subset of the Internet of Things, with significant distinctions in the applications and devices used to access it. The Internet of Things connects disparate items, networks, and systems in order to facilitate their use and communication. A smart home automation is a fantastic illustration of the consumer Internet of Things in action — it connects all smart gadgets to the same network, resulting in increased communication and simplicity for the consumer. Additionally, as consumer electronics items get smarter, businesses apply various IoT solutions in consumer electronics for product monitoring, administration, and customization.
The interaction of the IoT and Consumer Electronics Market brings together a diverse range of functionalities such as sensing, actuation, and control, resulting in smart and energy-efficient IoT electronic devices. As a result of its capacity to conveniently link to the manufacturer’s network through the internet, as well as its ability to transmit useful information such as product performance, usage trends, and energy consumption, it has proven to be one of the industry’s most significant high points.
When delving into consumer IoT, it’s critical to distinguish it from its industrial counterpart. While they both use connected devices and data, their applications and requirements differ significantly. Let’s overview the main distinctions:
In the industrial sector, the IoT solution owners are enterprise companies, manufacturers, and large corporations equipped with the necessary processes, budgets, and ambitions, serve as proprietors of IoT solutions for enterprises within the industrial sector. . The users encompass personnel who leverage IoT to perform their professional duties, from logistics to production operations.
In consumer IoT, ownership is generally held by small and medium-sized businesses and startups. The users are ordinary people, sometimes even not familiar with IoT technologies.
Consider these factors when designing IoT solutions.
Alexey Krol
Chief Business Development OfficerConsulted 30+ IoT startups to speed up time to market.
Get a ConsultationIndustrial IoT services covers like production, healthcare, energy, and logistics sectors. Consumer IoT, on the other hand, focuses on smart home devices, smart gadgets like clocks, trackers, and other end-user-oriented products.
As we’ve mentioned, the consumer IoT sector is associated with a smaller scale of operations, available resources, and development opportunities. Data volume and workload are also typically lower than in industrial IoT. Industrial solutions involve larger scales and more investments, yet they offer more extensive prospects for development.
Consumer and industrial IoT differ based on distinctive regulatory standards and quality requirements. Battery service life, load, and working conditions are several other factors that distinguish these two IoT types.
Marketing methods in consumer IoT typically focus on user experience and the attractiveness of the device or solution. Packaging and presentation are also significant. In industrial IoT, marketing emphasizes functionality, reliability, and integration with existing systems. The external appearance of IoT solutions is less important.
In the industrial sector, numerous integrations with other systems are common. Usually, vendors provide them in advance. This ensures the seamless flow of operations in industrial companies. Consumer IoT offers integrations as well, but they are more user-centric. They may be optional and less complex than their industrial counterparts.
Implementing IoT in the consumer electronics market can bring the following benefits:
There are also additional benefits that the Internet of Things of the consumer electronics market has to offer, like providing performance and consumption trends, transmitting information about manufacturers’ networks, and connecting other connected products via a network.
CIoT is now widespread, ranging from streaming devices, wearables, voice command systems, home management devices, healthcare and asset monitoring systems, to smart in-store devices and linked autos. The following are a few well-known applications of IoT consumer electronics solutions that are being realized now, and many more in the future.
The following are a few well-known applications of IoT in consumer electronics that are being realized now, and many more in the future.
1. Home Automation & Security
Daily, new home security solutions, internet-connected appliances, energy management devices, and innovative remote home applications such as room control and entertainment systems are introduced to the market. In 2023, IoT in the consumer electronics market is likely to be dominated by home automation devices with sophisticated energy management and security functions.
As an example, we developed Propuskator — ACS for private users and for businesses. Propuskator is a cloud-based access control system that can be installed on a local server and offers mobile applications for end users.
In addition, the team developed a line of IoT-based controllers for regulating electric locks, gate drives, and barriers. The controllers can be utilized as part of the technical infrastructure of the Propuskator ACS or as standalone smart devices managed via mobile application.
A robot with a video surveillance function is another example of IoT in consumer electronics market trends. The mobile robot is capable of performing security functions in an apartment or a private residence. Using the cloud functionality made it possible for us to design a security robot as a full-fledged IoT device that can be connected from anywhere where there is Internet access.
Other means of home security IoT include:
2. Asset Tracking
Consumer Internet of Things enables and facilitates tracking of everything from smartphones, cameras, and keys to pets and even family members such as children and the elderly. It enables the monitoring of anything that is IoT-enabled and connected, including devices that are located at greater distances.
Pet IoT, especially GPS tracking devices, is gaining prominence. According to Grand View Research, the global pet wearable market will grow from $2.7 billion in 2023 to $6.88 billion in 2030. With such solutions, pet owners can monitor and locate their pets in real time and ensure their safety.
3. Smart Wearables
In addition to conventional smartwatches and fitness trackers, wearable technology is gaining popularity at a rapid rate. Consumer-oriented wearables with feature-rich intuitive applications are being developed to revolutionize the way customers live their lives. With new discoveries in CIoT occurring daily, there will very soon be smart wearables that are not as reliant on smartphones as they are now.
4. Health monitoring
Healthcare IoT is another significant application area where the consumer Internet of Things is growing at a rapid pace and enhancing the patient and caregiver experience. There is a growing convergence between personal healthcare and IoT in healthcare, including patient monitoring, smart hearing aids, healthcare equipment tracking, and elderly care.
5.Personal Assistants
Personal assistants have been around for quite some time. Siri, Alexa, and Google Assistant are all making tremendous IoT development progress. Now, with the Internet of Things, it is finally possible to receive the one assistance we’ve always desired – a virtual person who locates belongings the next time we misplace them. By integrating location sensors, mapping software, Bluetooth, GPS, smartphone apps, RFID tags, and the network, we can provide a level of accuracy in network sensing that enables easy item tracking.
The above-mentioned IoT products cover only some of the top numerous consumer electronics trends in IoT right now. The ongoing competition is fierce, owing to the potential of IoT in the consumer electronics market.
Multiple notable companies are participating and exploiting the trends in combination with technologies like big data, machine learning, 5G, deep learning cloud, and edge computing.
Increasingly, consumer IoT trends serve as a model due to their vast use and potential. High demand for connected and wearable devices, as well as a spike in the use of IoT devices in the automobile industry, are the key growth drivers for the consumer IoT market. In addition, the rise in growth of wireless platforms drives the IoT consumer electronics market. There are, however, issues about data security and privacy that limit market expansion. In contrast, the rise in demand for IoT devices resulting from the development of smart cities is projected to spur lucrative prospects for the consumer IoT industry.
WebbyLab can help businesses with the full cycle of consumer IoT solutions and services development. What can we assist you with?
Our team has experience launching the sale of consumer electronics from the ground up. This is evident in our Propuskator and 2Smart lamp solutions and a commercial project for a Ukrainian business focusing on smart LED lamp sales. These three ventures are based on our 2Smart Cloud platform.
Ask experts how tailored IoT solutions can meet your enterprise needs!
Let`s talk!WebbyLab experts were also involved in an extensive commercial project for the American client. We’ve made this solution from scratch, following our client’s ideas and the core product concept. Our team handled the following tasks:
We’re experienced in providing full-cycle consumer IoT device development. Our team covers everything from idea validation, market and competitor analysis, and business requirement development to prototyping and planning.
We are also proficient in software and firmware development, hardware development consulting for contractors, production processes setup, and IoT consulting services for improving the user experience through convenient flows in applications, packaging, assembly, scaling, and support.
Contact us to learn more about how WebbyLab can assist you in developing IoT solutions for your business.
Written by:
Head of IoT at Webbylab
With a robust academic background in Telecommunication Systems Engineering, I apply my knowledge to lead innovations in the IoT domain. Starting as the first team member in the newly formed IoT department at WebbyLab, I've spearheaded its growth, fostering the expansion into embedded and hardware development alongside our core software projects. My dedication lies in pushing the boundaries of IoT technology, fostering a culture of innovation and excellence that profoundly impacts our clients' operational success.
1. Smart Speakers: Devices like Amazon Echo, Google Home, or Apple HomePod are voice-activated virtual assistants that can perform various tasks, control smart home devices, answer questions, and play music.
2. Smart Home Security Cameras: These devices offer remote monitoring and surveillance of your home, allowing you to view live feeds and receive alerts on your smartphone.
3.Smart Thermostats: These devices allow users to remotely control and schedule the temperature of their homes, leading to energy savings and increased comfort.
4. Smart Lighting: IoT-enabled smart bulbs and smart switches offer remote control, scheduling, and automation of lighting in your home.
5. Smart Appliances: IoT-connected appliances like refrigerators, ovens, washing machines, and robotic vacuum cleaners provide enhanced functionality and remote management.
6. Wearables: Devices like smartwatches, fitness trackers, and health monitors track various health and fitness metrics, allowing users to stay on top of their well-being.
7.Smart Locks: These IoT-enabled locks allow users to control access to their homes remotely, providing enhanced security and convenience.
8. Connected Entertainment Systems: Smart TVs, streaming devices, and gaming consoles can be integrated into smart home ecosystems, allowing users to control and access content seamlessly.
9. Smart Plugs: These devices can be plugged into traditional outlets and turn ordinary appliances into smart devices, enabling remote control and automation.
10. Smart Home Hubs: Central control hubs help manage and coordinate various IoT devices within a smart home ecosystem.
11. Connected Health Devices: IoT-enabled health devices, such as blood pressure monitors, glucose meters, and pill dispensers, can help individuals manage their health conditions more effectively.
12. Smart Garden Devices: IoT devices for gardening, such as smart irrigation systems or plant sensors, help users optimize water usage and monitor plant health.
Very different approaches to implementation. For consumer applications, the most important factors are often affordability and functionality, whereas for industrial applications, reliability and resistance to failures are more crucial. Consumer devices need to be easy to install and operate, while for industrial devices, installation and maintenance are distinct tasks that require dedicated resources and specialists. Consumer electronics often come as ready-made black box devices that solve a specific task, while industrial solutions more frequently involve large mechanisms that can be reconfigured to perform various tasks, or even expanded modularly to scale functionalities.
Choose Consumer IoT devices that meet your specific needs, have strong security features, and are compatible with your existing technology, while considering factors like user-friendliness and long-term costs.
Voice assistants like Google Home and Alexa-powered speakers are very popular. The Google Nest smart thermostat is highly sought after. Various Wi-Fi plugs and Wi-Fi relays like Sonoff are also widely used. Wireless environmental sensors like the Aqara Zigbee sensors for temperature, humidity, light, water leakage, and more are quite popular. LED fixtures and LED bulbs are in high demand, as well as built-in smart light bulbs in different socket types.
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