Category: Internet of Things

It is almost here…the time of year I love so much… #CES

There is nothing better than starting off the new year in Vegas with 600 startups and over 4,000 exhibitors crammed in to 2.6 million net square feet. This January will mark my 20th year attending CES. I look forward to connecting with friends and hearing what has you excited for 2018 as I look to compile my annual recap.

Look for some exciting news coming from my team as well because, you know, we couldn’t let you get ALL the limelight.

2018 is going to be great! Hit me up and let’s connect @mybuddypeted or pete@thebuddygroup.com

Internet of Things (IoT) market is growing by 15% annually.

Worldwide spending on the Internet of Things is forecast to reach $772.5 billion in 2018, an increase of 15 percent over the $674 billion that will be spent in 2017, according to a new report by International Data Corp.

IDC forecasts worldwide IoT spending to sustain a compound annual growth rate (CAGR) of 14 percent through the 2017-2021 forecast period, surpassing the $1 trillion mark in 2020 and reaching $1.1 trillion in 2021.

IoT hardware will be the largest technology category in 2018, with $239 billion going largely toward modules and sensors along with some spending on infrastructure and security. Services will be the second largest technology category, IDC said, followed by software and connectivity.

Software spending will be led by application software along with analytics software, IoT platforms, and security software. Software will also be the fastest growing technology segment, with a five-year CAGR of 16.1 percent.

Services spending will also grow at a faster rate than overall spending, with a CAGR of 15.1 percent. It will nearly equal hardware spending by the end of the forecast, the report said.

“By 2021, more than 55 percent of spending on IoT projects will be for software and services,” said Carrie MacGillivray, vice president, Internet of Things and mobility at IDC. “Software creates the foundation upon which IoT applications and use cases can be realized.”

https://www.information-management.com/news/internet-of-things-market-growing-by-15-percent-annually

Amazon Key’s big privacy test is now in your hands

Amazon Key uses the company’s new Cloud Cam security camera, a smart door lock and the new Key app to grant someone temporary access. A delivery person can unlock your front door using his phone, slide in a package, then lock the door again. The idea is to prevent packages from being stolen from the front stoop or have them get soaked in the rain.

https://www.cnet.com/news/amazon-key-launch-privacy-home-deliveries-cloud-cam/?ftag=CAD-03-10aaj8j

30 Million households will have a voice-first, in-home device by the end of December! @thebuddygroup

@thebuddygroup is working to help product managers and marketers harness the connected consumer’s varied and evolving onramps to brand engagement.

According to a new report by Narvar, “Bots, Texts and Voice: What Cuts Through the Clutter,” describing how shoppers’ communications preferences are changing with the rise of smartphones, chatbots and voice devices like Amazon Alexa and Google Home. Over two-thirds of shoppers have interacted with retailers using text, messenger apps, or voice devices, and 65% of shoppers who’ve knowingly used a chatbot, enjoy the experience.

Amit Sharma, CEO of Narvar, says “…technology innovation complicates what we already know… that customer communications are never one-size-fit-all… with this research, our mission is to equip retailers with the insights they need to navigate nuanced communications and ultimately create the best experiences possible…”

77% of American adults own a smartphone; every month, people exchange 2 billion messages with Facebook Messenger’s 100,000 active bots; and 30 million households will have a voice-first, in-home device such as Amazon Echo and Google Home by the end of 2017. These technology-driven communication channels are starting to change the way people want to interact with retailers. While more than 80% prefer to get messages from retailers via email, 38% now want to hear from retailers on multiple channels. According to the survey, 79% of shoppers have also used text messages, messenger apps or voice devices to connect with retailers.

Sucharita Mulpuru, a retail industry analyst who collaborated with Narvar on this study, says “… retail brands should seize the opportunity to learn from, and optimize consumer communications, through both existing and emerging channels. The first step is to understand how their customers want to communicate based on elements like urgency, type of message and specific channel… ”

While shoppers typically prefer to receive messages from retailers via email, they’re warming up to text messages and push notifications, says the report. This is especially true if a message is important and contains order confirmation or tracking information. They also want companies to communicate package delays or postponed delivery dates, quickly, and want more communication for high-value items.

  • 73% of shoppers consider messages containing order tracking information to be “very important,” while 46% say customer service messages are “very important”
  • 84% say more communication is critical if the purchase is an expensive one
  • 98% of shoppers say they feel better about a company if they are notified immediately when something goes wrong.

While email still reigns overall, communication preferences vary by age group, says the report. Millennials aged 21-29 prefer text messages and mobile push notifications from retailers more than any other generation, because they’re more likely to see these kinds of messages quickly.

  • 43% of millennials aged 21-29 prefer to receive order updates as text messages, compared with 39% of shoppers aged 30-44, 32% of shoppers aged 45-59, and 28% of those shoppers 60 or older
  • 33% of millennials aged 21-29 prefer to receive order updates as push notifications, compared with 22% of those aged 30-44, 12% of those aged 45-59, and just 4% of those 60 or older

Retailers are starting to integrate artificial intelligence and voice technology into communications with shoppers. While these channels are still new, the majority of shoppers have at least tried messenger apps, voice devices or live chat. The data underscores that shoppers anticipate using voice-powered devices more.

  • 79% of shoppers have used text, messenger apps, or voice devices, and 74% indicated they have used live chat when shopping. Of those who have used these new technologies, 38% could not identify if they were using artificial intelligence, and only 10% knew it was not human
  • 65% of shoppers who knew a non-human bot was responding generally liked it
  • 29% of voice device owners use it to shop, while 41% of voice device owners plan to shop with it in the future.

The majority of shoppers will try to resolve problems on their own, says the report. Those under 30 are most likely to prefer to fix problems themselves, using the retailer’s website or chat technology. In the future, retailers will need to adopt a hybrid model which applies technology to offer better self-service options, but escalates higher-level issues to humans.

  • 55% of millennials aged 21-29 prefer to talk to a person to resolve a problem, compared with 72% of shoppers aged 60 or older
  • 88% of under-30 millennials and 73% of shoppers aged 60 or older will try to find an answer to the problem themselves when they encounter an issue with a retailer

The complete report detailing the findings of the study is available online at Narvar.com

by  , Staff Writer @mp_research, Yesterday

VOICE is the newest DRIVER of branded experiences

As new platforms go, voice is making itself heard. Loudly. Voice-enabled units are projected to be in 45 million homes by end of 2017. So the question for brands now, is: if you’re not speaking for your brand, who is?

For brands in the entertainment space and beyond, having a voice strategy and the content to feed it must be a top marketing priority. Voice, like other emerging platforms — Snap, VR, etc. — is itself an entertainment platform that plays the music we want to hear, catches us up on celebrity news, and lets us listen to interviews, podcasts, audio books, etc.

As entertainment properties seek to develop and evolve their voice platforms, it is helpful to keep in mind how best to build your brand’s voice. Here’s a few ideas specific to the Amazon Alexa Voice Assistant platform:

Voice is a Utility

The voice platform offers studios and networks a variety of new ways to support their brand by building an offering that adds a meaningful service to the consumer.

Voice connected to your home entertainment system will replace the remote control — and with it the complexity for many to actually being able to find what they want to watch. Voice will quickly become the new interface, enabling a much easier way to search, discover and get detailed information on your choice of entertainment. Where is your movie playing? What is the Rotten Tomatoes score? Who is the title actor? You get the idea.

When it comes to the Alexa family of devices, entertainment brands have the benefit of information feeds from IMDb and Wikipedia. But those search tools are only as useful as the data they get.

Tip 1:  For all brands in the voice-enabled age it’s important that their Wikipedia pages have up-to-the-minute information. For entertainment brands, it’s never been more important that both their Wikipedia and IMDb pages speak for them. * Extra points if you’re a property who’s promoting the enabling of your Alexa skill via your Wikipedia page!Voice is the Future

Each time your Alexa Skill is enabled and accessed in a consumer’s home, you are connecting and tracking an incredibly personal and organic form of communication.

One could say it’s the purest form of A/B testing your brand could receive, because its the consumer who starts the engagement and is in control of asking, requesting and wanting to direct the conversation.

This brings us to Tip 2: Your brand voice motto, like the Boy Scouts, needs to always be prepared. No matter what you build as a utility or entertainment proposition, your brand voice should always be listening and able to answer any number of possible queries the consumer has, as they are the ones in control.

As voice continues to grow in consumer adoption and brands continue to adapt and refresh their voice skills, casting a wider net of possible requests to both answer and track will give you better guidance on what and how you refresh next.

The Promotional Marketing Opportunities are Endless

Voice is about starting a conversation. Consumers are looking to engage with brands in the voice space but the style of engagement is very different than visually based communications. With voice, they are listening to what you have to say as they search for answers. This leads to many different ways to share and expand your content.

Jeopardy gives consumers a mini-game to play daily. Alexa will tell you a joke if you ask.

Tip 3: Don’t forget to leverage your most important assets; the voices of your stars and talent can support and promote a new film or series with a more personal and connected advantage over brands who do not already have a “voice.”

Gartner predicts that by 2020, voice will represent 30% of web-browsing activity. It’s time for all brands to find theirs.

 

As seen on Medipost https://www.mediapost.com/publications/article/305478/why-voice-will-make-your-brand-heard.html?utm_source=newsletter&utm_medium=email&utm_content=readmore&utm_campaign=104592&hashid=GDUskglhnvDLb35PkVj_E8-yz3s

IoT spending is expected to total nearly $1.4 trillion, led by enterprise investments IoT hardware, software, services, and connectivity.

By 2021, global IoT spending is expected to total nearly $1.4 trillion, led by enterprise investments IoT hardware, software, services, and connectivity.

Breaking down use cases, IDC says manufacturing, freight monitoring and production asset management will attract the largest investments. Smart grid technologies for electricity, gas, and water, and smart building technologies are also expected to see significant investment gains this year.ong tail, investments in smart home technologies will jump over the next five years, as well as airport facilities automation, electric vehicle charging, and in-store contextual marketing.

From a technology perspective, IDC says hardware will garner the most spending throughout the forecast, followed by services, software, and connectivity. But while hardware spending will nearly double over the forecast timeframe, its growth is the slowest out of all IoT technology groups.

Software and services spending will grow the fastest with application software representing more than half of all IoT software investments. Hardware spend will focus on modules and sensors that connect end points to networks, IDC says.

http://www.zdnet.com/google-amp/article/iot-spending-to-surpass-800-billion-in-2017-led-by-hardware-idc/

There will be 13 networked devices and connections per person, up from eight last year

The number of Internet connected devices that people have is going up, especially in North America.

There will be four networked devices and connections per person globally by 2021, according to the latest annual visual networking index forecast by Cisco.

However, in North America, there will be 13 networked devices and connections per person, up from eight last year.

The means that beyond smartphones and connected TVs, North American consumers will be adopting many more connected gadgets.

North America is well above the average by region when it comes to getting connected. For example, here are the projected number of networked devices and connection per person by region by 2021:

  • 13 – North America
  • 9 – Western Europe
  • 4 – Central and Eastern Europe
  • 3 – Latin America
  • 3 – Asia Pacific
  • 1 – Middle East and Africa

The end result is that all those connected devices will be creating new and massive data streams, much of which will be used to mine for new consumer insights.

During the same timeframe as the mass connected device adoption, broadband speeds will nearly double. Some of those speeds are already being delivered in the U.S. today by Verizon.

The speed and additional connections don’t necessarily mean that consumers will do things faster.

However, it does mean that consumer access to information and content, especially streaming video, will be accessible more quickly via more devices.

Over time, consumers are likely to lean more on their smart devices to automate tasks for them.

Today, this can be as simple as asking Amazon’s Alexa to order a coffee from Starbucks.

Tomorrow, this could involve the connected technology, powered by artificial intelligence, to know, in advance, when to order that coffee. And from where. And have it delivered via any number of means now in trial.

THE SELF-INSTALLED SMART HOME REPORT: Why current smart home device owners are appealing to tech companies

BI Intelligence

Not that long ago, many home-appliance and consumer-electronics makers were gearing up for what they thought would soon be a rapidly growing market for smart home devices.

The instant popularity of the Nest thermostat, introduced in 2011, seemed to confirm their hopes. But those expectations were dashed in the coming years as the market for connected home devices later stagnated. 

Even with these challenges, many of the biggest consumer technology companies are now moving into the smart home market. For example, Apple, which recently released its self-installed smart home ecosystem, called the Apple Home, traditionally doesn’t move into a market until it’s very mature and only when it can release a perfected product. Further, Google this fall launched the Google Home and its companion ecosystem, hoping to jump into the voice-activated smart home speaker market, which Amazon currently dominates with its Echo product line. 

In a new report, BI Intelligence examines the demographics of the average smart home device owner and discuss why current smart home device owners are appealing to tech companies. The report also examines the plans of various tech giants in the smart home market and discuss their monetization strategies, and makes suggestions for how these companies can position themselves to make their products and devices more appealing to the mass market.

Here are some key takeaways from the report:

  • Tech companies primarily enter the market to enhance a core revenue stream or service, while device makers desire to collect data to improve their products and prevent costly recalls.
  • We forecast there will be $4.8 trillion in aggregate IoT investment between 2016 and 2021.
  • These companies are also seeking to create an early-mover advantage for themselves, where they gain an advantage by this head start on adoption.
  • Major barriers to mass market adoption that still must overcome include technological fragmentation and persistently high device prices.

In full, the report:

  • Details the market strategy of prominent tech companies and device makers, and analyzes why which ones are best poised to succeed once adoption ticks up.
  • Offers insight into current ownership through an exclusive survey from BI Intelligence and analyzes what demographics will drive adoption moving forward.
  • Explains in detail which companies are poised to succeed in the market in the coming years as adoption increases and mass market consumers begin to purchase smart home devices.