This year the attendees at HardwareCon took advantage of the opportunity to learn about the latest technology and business trends in AI, Machine Learning, Robotics, IoT, Blockchain, Product Design and many more. Parks Associates presented an IoT Summit at HardwareCon that was focused on the “Transformation of Consumer Products: Connectivity and IoT.” The summit addressed the changing landscape for product development, trends and challenges associated with new innovations, and how these changes are impacting the market.
Prodea’s VP Marketing, Peter Radsliff, was part of an interactive panel moderated by Parks Associates Research Director for Connected Home, Brad Russell. The panelists discussed how cloud functionality enables a device to act more like a dynamically evolving service than a single fixed product. This session examined the evolution of business strategies for the connected home and the necessary shift from one-off sales to product management through a cloud-based ecosystem that delivers multiple benefits to product makers and consumers.
When asked his thoughts about the session, Radsliff stated, “Unconnected products are fast becoming an endangered species. It’s the Internet of Services that will enable connected products to get better and do more after you buy them.” He continued to explain how companies can benefit by extracting the ongoing value of data or device control over the lifetime of their product.
Research from Parks Associates shows 48% of US broadband homes used a personal virtual assistant in 2017 with Siri and Amazon Alexa as the most commonly used. In addition, 50% of personal assistant device and app users are highly satisfied with the solution they use. Radsliff pointed out that there are common issues in IoT that greatly affect a consumer’s adoption rate and satisfaction. He stated, “Some common oversights when it comes to designing IoT products are: 1) Connected products MUST be better than their unconnected predecessors otherwise they will not sell. 2) A poor mobile app experience can kill the product it connects to because of poor App Store reviews. 3) Companies who don’t pre-plan to comply with global privacy regulations in the beginning are doomed to limit their sales potential. 4) Not pre-planning for interoperability with other products and services pre- and post- the initial product sale will open the door for competitors.”
Thanks to HardwareCon and Parks Associates for hosting the IoT Summit. HardwareCon 2018 continues through Friday April 20, at the San Jose Convention Center.