“According to EMC’s calculations, by 2020 there will be 30 billion devices connected to the internet. More specifically, Connected Home World, Marketwatch and Actiontech sales of connected home technologies that can control lights, locks and temperatures will soar from £2.8bn ($4.4bn, €3.9bn) in 2015 to up to £38bn ($59bn, €52bn) in 2020.”
This quote comes directly from this article by Internet Retailing. With more smart products being created for consumers, it’s important for brands to prepare for the boom of the Internet of Things. The same article suggests four ways consumer facing brands can prepare:
- Bare all to consumers
- Protect themselves and end-users from security threats
- Organize and manage data
- Turn this data into positive, predictive action
The Internet of Things is booming and brands must be prepared to consider the ramifications of the new technology they implement into their own products.