IoT platforms for the Smart Home

The Smart Home market is expected¹ to show an annual growth rate of 10.67%, reaching a total market volume of USD 231.6 bn in 2028. Central to this transformation is the Internet of Things (IoT), a network of interconnected devices that communicate and operate seamlessly to enhance convenience, security, and efficiency in our homes.

IoT platforms are the backbone of this innovation, providing the necessary infrastructure to manage, integrate, and optimize smart devices. As the smart home market continues to expand, the role of IoT platforms becomes increasingly critical. Besides ensuring the proper operation of smart devices, they also drive the development of new applications and services that redefine how we interact with our living spaces.

Let's explore what an IoT platform dedicated to the Smart Home market should look like, from the perspective of every stakeholder: users, installators and device manufacturers.

Smart Home: what users want​

Convenience​

Devices must be easy to use and need to be paired with intuitive apps: after all, they're there to simplify our lives. Integration with voice assistants and a wide range of devices is also required.

Cost Effectiveness​

With a plethora of solutions available on the market, competitive pricing and high value for money are expected. Long-term savings, for example through reduced utility bills, are also a factor that should be highlighted.

Installators and the Smart Home​

Installators are oftentimes the primary sales channel for Smart Home solutions: this is why they are considered as important as the final customer.

What do installators want from a Smart Home solution? Two things above all: fast setup and easy maintenance.

Any dedicated software should strive to save installator's time, while making their lives easier: here are a few tools that can help.

Automated Setup and Configuration​

This category covers all features that support automated setup and configuration of devices, thus:

• reducing manual effort and potential errors
• speeding up the setup process.

Some examples are fast device registration, pre-determined compatibility maps and device auto-discovery strategies.

Remote Diagnostic Tools​

Advanced tools for remote diagnostics and troubleshooting enable installers to identify and resolve issues without being physically present.

A crucial role is played by alarms and notifications, best when predictive instead of reactive. Being alerted of devices either possibly or surely broken allows installators to sell comprehensive maintenance services, in addition to the typical scheduled and on-call strategies.

Detailed Documentation and Support​

Device manufacturers should consider providing access to clear documentation, examples for typical use cases and tutorials. Another example of serving installators is offering them a priority technical support channel, to assist them with complex installations and ensure any challenges can be overcome.

Smart Home device manufacturers: benefits of an IoT platform​

Last but not least, let's look at the Smart Home market from the perspective of connected device manufacturers: why is an IoT platform a great investment?

Selling additional services​

A dedicated IoT platform enables the sale of additional software services. As margins on hardware keep tightening, more and more manufacturers leverage their products to open new recurring revenue streams.

Keep devices up to date​

Connected products can be updated over time ²: bugs can be fixed, and new functionalities can be introduced. This results in an always-improving customer experience.

Monitor device lifecycle​

As soon as non-connected devices leave the factory, manufacturers typically lose visibility over : the only feedback they can get is either through support channels or products returned for repair.

By connecting devices, manufacturers can:

• provide real-time support
• monitor each device's lifecycle, proactively addressing any issues
• use collected data to guide product updates and new developments, thus closing the loop between engineering and actual field use.

The need to stay competitive​

Customers have come to expect digital experiences from physical products: doing without them means competing with one hand tied and giving competitors an edge.

Building an IoT platform for the Smart Home market​

If you're considering building an IoT platform for your Smart Home products, Connhex is the perfect choice:

• it has been engineered from the ground up to include custom apps to create a seamless vertical integration with your products
• value-added services are provided out of the box. For example, users can create custom rules and receive notifications
• it includes every tool needed to open new revenue streams from your digital services
• with a powerful policy system, it handles as many intermediaries as needed. In other words, installators have a first-row seat in Connhex
• it is tailored to device manufacturers, thus including advanced monitoring tools
• it is backed by Compiuta - should you need any customization or additional functionality, we can do it!

So where should you go from here?

If you're onboard, great! Start your 30-day free trial with no obligations for any Connhex version. Still unsure? You can always reach out for any additional information: we'll be glad to hear from you!