Just a while ago, the Internet of Things was only a blossoming idea that many investors did not take notice of and now the industry is expected to be worth trillions by 2020.
The modern consumer has become so accustomed to receiving connectivity in most of their communication devices that the progression to other ‘things’ only seemed natural. From the programmable thermostat with Wi-Fi connectivity to tech polo shirts, the IoT is definitely revolutionising the consumer market.
All this growth also means lucrative opportunities for investors. When trading with an online broker such as CMC markets, it helps an investor to know the companies to watch out for in the IoT sector.
Which IoT technology is worth your money?
Smart homes are not the far-fetched concept they were five years ago. The market is presently filled with IoT devices that make it easy to tackle common home chores. Homeowners can now connect every switch in their houses to a single hub, giving greater control. Now you can track your HVAC system from a mobile device with the advent of smart thermostats. Refrigerators have touch screen interfaces where people can top up their groceries. A product like Amazon Echo, with its voice-activated command, has become very popular in homes. Smart bulbs are other products that have made quite an impact in smart buildings. These systems come with a range of colours that suit different settings and dimming capabilities that help with energy efficiency. The need for more intelligent appliances and home systems continues to drive things, particularly in the IoT sector. As consumers come to comprehend the benefits of home automation, demand increases. Couple that with the fact that prices keep going down and you have a thriving industry worth investing in.