IoT and Consumer Electronics: A Great Deal
IoT has brought into the domain a range of fresh revenue possibilities that aid in cross-functioning amongst devices and provide new products to customers. For instance, the home appliances being powered by IoT could prove useful in reducing workload for humans. It could help record the data of daily usage of the devices, besides storing the same on the data server and running analysis to detect patterns and schedule of operations independently.
Owing to such great convenience and facilities fostered with the alliance of IoT in Consumer Electronics, its global market is bound to witness immense growth. As provided in the reports of Market Research Future, it is estimated that the global IoT in the Consumer Electronics market could bounce up to USD 124 billion, with a robust CAGR rate of 24.16% during the projected duration of 2017 – 2023. Hence, making the combo of IoT and Consumer Electronics a great deal to have.
The Highpoints of IoT in Consumer Electronics
The affiliation of IoT and Consumer Electronics draws in a rich amount of functionalities like sensing, actuation, and control, to provide smart and energy-efficient electronic devices. Possessing the capability of seamlessly staying connected to the manufacturer’s network through the internet, besides conveying purposeful information like product performance, usage trends, and energy consumption, it indeed has strong highpoints for the industry as a whole.
Check below a few advantages of IoT in Consumer Electronics:
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Predict Product Malfunction:
It provides you with operational data that predicts product malfunction, thereby further aiding in planning for repairs.
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Preventive Maintenance:
Prevention is better than cure, which has always been known to us. And the same also applies to the Consumer Electronics Manufacturing Industry. If there’s any malfunction, its data can be utilized to schedule preventive maintenance while also upgrading the developed software.
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Enriching Customer Experience:
IoT can aid the Consumer Electronics companies to create a vast and effective network of servicing technicians as well as accessories vendors based on the geographic location to ultimately contribute to the end customers’ experience.
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There are more merits that the IoT for Consumer Electronics has to provide you with, inclusive of delivering the performance and usage patterns, conveying information about manufacturers’ network, and other connected devices via a network.
Enabling Smarter Devices with IoT for Electronics
Be it the manufacturers or the consumers; they’re all stacked with certain question sets. For instance, the consumer electronics manufacturers might be interested in gaining a precise idea about product performance and sales in improving the same. In contrast, the consumers might be more interested to know how to save on energy.
While technologies like Big Data and Machine Learning could help answer the above questions, IoT is undoubtedly the stepping stone to enable such analysis and provide for results. Being decked with IoT, the consumer electronics devices could produce a rich case of Big Data by leveraging various sensors. This system eventually helps in providing the stakeholders with an analyzed, relevant, and understandable format.
The Concluding Lines
It can thus be concluded that there has risen a new layer of business opportunities for manufacturers of consumer electronics, all thanks to the promising potential of IoT. Companies worldwide are undertaking numerous approaches to blend IoT in their operations and foster IoT-capable teams by learning from early adopters’ actions, expanding budget, creating an organizational unison, and more. Don’t stop here; make the most of your time and energy by learning what Teksun has to offer you in the domain of IoT in Consumer Electronics.
