3 Booming Consumer IoT Areas to Watch in 2016

I recently had the opportunity to attend the 2016 Consumer Electronics Show where I was able to see some of the newest products from virtually every major player in telecom, tech and other consumer facing industries. One of the key takeaways from the event was the powerful impact of the internet of things (IoT) on our everyday lives. The show floor was full of exhibitors showcasing interesting new ideas and approaches to health & body monitoring, and connected home and car applications.

In my opinion, success in these areas is determined by the level of consumer interest. The results from our latest US Global mobile consumer survey: Rise of the always-connected consumer sheds light on these areas and provides strong pointers.

The connected home:

45% of the youngest generation is interested in smart-tech home control and 41% in home monitoring. The youngest generation exhibits similar privacy and security concerns as the older generation, with 53% in each age group pointing ‘system hacking’ as the biggest potential issue.  Bottom line is home connectivity is of interest by more than 50%, but security is top of mind.

Health and body monitoring:

Smartwatches are driving more usage than fitness bands despite their later entry into the market. While only 4% of consumers own a smartwatch and 10% own a fitness band, regular usage for fitness activities is higher for smartwatches versus fitness bands. 40% of smartwatch owners use them to monitor fitness levels, and 37% use them for calorie intake and diet. Fitness bands reflect a similar pattern; 37% used for fitness level monitoring and 27% for calorie intake. Great growth opportunity for manufacturers as wearables continue to increase market share.  Additionally, wearables can also drive more connected services (i.e. mPayments).

Autonomous cars:

For now, our cars are well- connected, and they are great for navigation, traffic monitoring, maintenance, and easily accessing entertainment options. Nearly 70% of users are interested in these features, which is key.

Most car manufacturers are looking into autonomous cars as the next step, and user interest supports this. It is actually far higher than what new products typically achieve with 58% of surveyed consumers would eventually consider owning or riding one, and almost 20% under age 44 are ready to take the plunge now. Autonomous cars are appealing when you think about all of the stresses that go along with driving such as following directions or staying highly alert while driving after a long day.

In addition to these three fast-growing areas, the 2015 US Global mobile consumer survey: Rise of the always-connected consumer uncovers consumer preferences on a variety of topics from mobile device usage trends to security and privacy.

If you are interested in learning more, please contact me and I would be happy to schedule a meeting with you and your team.