While large businesses and municipal authorities are set to adopt internet of things (IoT) exponentially over the next five years, as we revealed in another story today, it seems that your home is set to benefit from the IoT, too.
Market research company IHS said today that the global connected white goods market will grow over the next five years at a compound annual growth rate (CAGR) of 134 percent.
Only one million such units shipped last year, but IHS said that number will reach 223 million units by 2020.
So what’s about to get smart? IHS counts washing machines, washing dryers, dishwashers, refrigerators, air conditioning and cookers.
If you count in smart coffee machines, robotic vacuums, rice cookers, microwave ovens, air purifiers and electric toothbrushes the figure of units shipped will be over 700 million by 2020.
Big vendors like Samsung and LG are shifting resources from mobile devices and TVs to smart home technology devices, IHS said.
IHS believes that the smart home technology market will consolidate and by 2018 there will only be a few connectivity platforms, operating systems and technology appliance companies dominating the market.
“Consolidation will drive consumers towards earlier adoption of smart home technology, with growth similar to what the mobile phone industry experience just a few years ago,” said Dinesh Kithany, a senior analyst at IHS.