The year of the connected device, but consumer IoT startups face big challenges
March 17, 2014 | By Peter Bihr |
Over on the BoschSI Internet of Things blog, I contributed a short piece on the challenges that startups in the consumer IoT space are facing.
There is hardly any doubt that 2014 is the year when connected devices – particularly wearables – will go mainstream. Technology tradeshows and media alike are practically bursting at the seams with new products, concepts, and announcements for connected devices.
It’s worth noting that this is quite a special slice of the Internet of Things: this isn’t about the industrial internet, it’s about bringing the IoT to consumers. This is a very different story altogether, a segment with its own opportunities, challenges, and dynamics, one that exists at the intersection of various verticals – think home automation, wearables, connected mobility, personal analytics, health tech. It’s a space where the lines aren’t yet fully drawn, the terminology not yet fully evolved – which is usually a sign of a field that’s moving quickly and innovating. In other words, this is where some truly innovative and interesting stuff is happening.