For those who follow the latest developments in the Internet of Things, you no doubt heard about Google’s $3.2 billion acquisition of Nest Labs, a home automation company and maker of smart thermostats and smoke alarms. Google’s (News - Alert) in the right place, as energy-saving solutions like smart thermostats are just the beginning of the future of homes.
Recent Parks Associates research found about 50 percent of U.S. broadband households own a programmable thermostat, and 11 percent have on that can connect to the Internet. Beyond the thermostat, about 20 percent of these households own an electric or natural gas vehicle, and about 20 percent own smart lighting or door lock equipment.
"CES (News - Alert) 2014 had many Internet-connected appliances on display that will contribute to the Internet of Things, and Parks Associates research shows growing consumer interest in these energy-saving solutions," said Tom Kerber, director or research, Home Controls and Energy, Parks Associates (News - Alert), in a statement.
While the news of Google’s Nest acquisition has triggered some mixed responses -- both optimism for the Internet of Things and paranoia about privacy – it legitimizes the hype surrounding the Internet of Things and home automation market. Nest has made smart thermostats simple, sleek and functional. As more consumers become familiar with solutions like those from Nest, they’ll start looking at other solutions they can bring into their home, such as electronic door locks, smart security systems, remote garage door controls and various connected appliances.
Consumers won’t just adopt these solutions because they are the latest technology – sure, some early adopters may, but the benefit of home automation solutions is they offer convenience, simplicity and savings to consumers.
Energy efficiency is among the biggest benefits of the connected home. Monitoring energy, water and electricity usage gives consumers insight into consumption habits and behaviors, and data on how to maximize their savings and also reduce their impact on the environment.
One player powering the Internet of Things and M2M technology is Multi-Tech Systems, a provider of M2M communications solutions such as embedded sensors and gateways. Multi-Tech (News - Alert) enables utility companies to monitor sensor information in real-time so electricity levels can be optimized to improve efficiency and reliability of power delivery. Its solutions help with renewable energy, energy monitoring for oil and gas pipelines, smart grid and smart metering, and electric car charging stations, which are all on the rise along with energy-efficient connected homes.
Edited by Cassandra Tucker