Why Aren't People Getting Excited About the Connected Home?

Comments: IoT for the home is a fantastic development, especially with regards to power and water conservation, not to mention the conveniences.  But perhaps it is better suited for the near run for new construction versus rehabbing older homes.  We are looking forward to the day that cup of coffee is waiting for us in our historic register home though.

Imagine a future where people and machines communicate with each other to make life easier isn’t so far-fetched today. Thanks to constant technological improvements and the work being done in the Internet of Things (IoT) space, things like cars that drive themselves and irrigation systems that can water crops at just the right time, are already in place.

While so much excitement is being built around the potential for this technology to transform the future, a new report shows consumers aren’t totally on the bandwagon just yet.

One would think having a hot cup of coffee ready and brewed for you when you wake up, or coming home to a warm toasty house while cutting down energy costs would be enough to convince consumers of the great things M2M technology brings.  However, while home automation devices are hot topics, interest in them is dropping quickly.

A new report from Argus Insights points to a drop in the market from just a year ago and cites things like frustration with setting up these devices as reasons for consumers to start losing interest.

For companies offering IoT solutions, this is perhaps a red flag to work on easier to use solutions to help turn the ship around.

Companies like Nest and Dropcam have done well to excite the market but may need to do more as far as plug-and-play and ‘set-it-and-forget-it’ goes, with their offerings.

“Based on our review of consumer interest, the state of home automation in 2015 is not looking good for anyone who sells or makes these devices,” said John Feland, CEO and founder, Argus Insights. “Even though Google and Samsung made big purchases in this space by buying Nest thermostats, Dropcam and the suite of SmartThings products demand is stagnating. It is obvious that the early adopters have bought what they want and other consumers are expressing frustration that these products are complicated and difficult to set up and use.”

From IoT Evolution