We’re living in exciting times for consumer tech. Major companies and startups from across the world are taking huge leaps forward, technologically speaking. What seemed unthinkable a couple of years back, now seems possible with the advancement of technologies like the Internet of Things, augmented reality, artificial intelligence, and automation.
In fact, the growth in consumer tech is so impressive that U.S. consumer tech sales are expected to reach 2.2% $401 billion in 2019. That’s possible thanks to companies investing more money on research, outsourcing software development services to reduce the times to market, and an increase data availability on what consumers actually want.
Of course, the market of consumer tech is massive and incredibly varied. There are, however, some developments that are worth checking out and keep an eye on, as they’ll surely make a splash in the near future (if they aren’t making one already). Here are 5 of the most relevant ones.
Software and streaming services
Digital solutions have been major revenue drivers for the last years and they’ll keep on that track for this year. Predictions estimate that consumer spending on software and streaming for music, video, and gaming services will reach $75.6 billion by the end of this year, a 14% growth over 2018. The main driver behind that increase? Cloud-based subscription services.
Streaming services for video and music aren’t precisely something new, so it’s no surprise that they’ll play a major part in the growth of digital solutions this year. However, what’s worth noting is the irruption of cloud-based streaming models in the video game industry.
Software development companies are coming up with new online platforms to which gamers can subscribe to play all kinds of games without having to download or install anything. Additionally, these platforms are bringing new revenue opportunities with in-game purchases and trades, a new approach to gaming that’s here to stay.
Internet of Things
Automatic thermostats. Fridges that shop through the Internet. Smart traffic controllers. Smart water pumps for agricultural purposes. There are tons of interesting developments out there that are part of what we now know as the Internet of Things (IoT). Basically, this tech is a network of devices connected through the Internet to share information with one another.
The IoT takes online objects that wouldn’t traditionally be connected. The idea behind that is to offer benefits for both users and companies. For users, IoT devices increase comfort, provide greater accessibility and control, and enhance the quality of life. For companies, these devices provide valuable insights about their daily use, common issues, and potential opportunities.
It’s no surprise that, with those benefits for everyone involved, the number of connected devices to the Internet of Things is expected to grow fivefold in ten years to 75 billion devices worldwide by 2025. That means we’re living in a unique moment where more and more devices will go online, from the clothes we wear to the contact lenses we put in our eyes.
Home automation
It’s not just the devices we use on a daily basis that are about to get smarter. Our homes as a whole are going down the same path. That’s because of home automation or domotics, the use of automated systems to control lighting, climate, alarm, access, entertainment, and appliances to turn a common house into a smart home.
Domotics is closely related to the Internet of Things, as the devices that make up a smart home can be connected to the Internet. However, a typical home automation system connects all its devices to a central hub that can be adjusted through a user interface. That interface can be found in terminals around the house, through a mobile app, or even through the Web, which makes it possible for the user to adjust whatever he needs remotely.
Though the home automation market is still fragmented (as industry standards aren’t completely established yet), it’s expected to keep growing to reach a value of $12.81 billion by the year 2020. As more and more home technologies keep being developed, expect that number to keep increasing for years to come.
Voice Interfaces
According to Gartner, about 30% of all searches will be done without a screen by 2020. In other words, the irruption of voice-controlled interfaces will be felt across the world. For anyone paying attention, that can’t come as a surprise. Many of us are already using personal assistants like Alexa, Cortana, or Siri through our phones, laptops or smart speakers.
In fact, 1 in 6 US adults now owns a voice-activated speaker in their homes, a number that will surely grow in the coming years. But it’s not just the sheer amount of devices that are set to change in the near future. The way we use them will change as well. While most of us now use these speakers to listen to music, ask for a weather forecast or conduct a simple search to clear some doubt, there’s still plenty of room for growth.
The most promising is voice-activated shopping. Though companies still haven’t found the perfect way to introduce a shopping mechanism into these speakers (and with privacy and security concerns looming large on the devices themselves), it’s just a matter of time before we start using those gadgets (and other voice-activated systems) to purchase things.
Security software
When people hear about security software, they surely think about antiviruses and similar applications. Yet, that’s not what we’re going with it here. Given that security has become one of the top priorities for consumers, consumer tech will have to rise up to the challenge to meet that increasing demand for more protection.
Smartphones using facial or fingerprint recognition software to be unlocked are the perfect examples of consumer tech responding to that concern. Since the Internet of Things will bring more and more devices online, it’s expected for companies to team up with software development providers to come up with digital barriers to keep sensitive data protected and secure.
The connection of legacy assets, the lack of industry-accepted standards, and the need to ensure point-to-point security in the IoT world are all challenges that the digital security industry will have to deal with sooner rather than later.
Summing it all up
Consumer tech promises to keep growing as an industry, thanks to the introduction of new kinds of technologies. Software related to the entertainment and security industries, the rise of voice-activated interfaces, home automation, and the Internet of Things are some of the best examples to understand how consumer tech is rapidly changing and adapting.
Of course, it hardly ends there. There are tons of other technologies and developments that are contributing to consumer tech’s growth, from artificial intelligence to big data and robotization. The future for consumers looks very bright, as products are becoming more and more sophisticated, software development services are offering more tailor-made solutions, and companies are creating new tech that will surely impact the way we live our lives in forms we can’t imagine.
