The internet-of-things, or IoT, is the future. IoT describes the interconnected network of “smart” devices that surround us — devices that used to be analog. These physical objects, say a thermostat or a doorbell, are now embedded with sensors, processors, and the ability to interact with the world around them. Products like Samsung’s (KRX: 005930) line of smart-fridges, Amazon’s (NASDAQ: AMZN) Ring, and Google’s (NASDAQ: GOOGL) Nest.
It will not be long before these products are utterly ubiquitous and surround us wherever we go, integrating into our daily lives. In fact, in many ways they already do, filling many homes.
These smart home devices, the term used to describe IoT specific to the home, are already big business, with giants like Google, Amazon and Apple (NASDAQ: AAPL) betting on their own devices to help you control and operate your smart home. Google Home, Alexa, and Siri all are hoping they can be the ones you ask to turn the lights on or open the garage door.
In 2020, according to market research firm Mordor Intelligence, the broader IoT market brought in $761.4 billion in revenue. The smart home market, a subset of the IoT market, brought in $80 billion — and is expected to grow significantly. The firm predicts the smart home market to be worth almost $314 billion by 2026, a CAGR of 25.3%.
That is huge growth.
The possibilities for what can be connected are nearly endless. Fitness is quickly becoming connected with products from FitBit and Peloton (NASDAQ: PTON). Philips (NYSE: PHG) has a line of smart bulbs to light your home with. There are sleep trackers, entertainment systems, ovens, washing machines, security systems and vacuums. Anything that can be automated will be.
Some companies are focusing on retrofitting existing analog devices, turning them into smart devices. Things like fitting a device over your deadbolt that you can lock and unlock using your phone. RYSE has a motor that turns traditional blinds into smart blinds, one of the last missing pieces in the smart home. Open and close your blinds using a voice command or automatically when the sun is in a particular place in the sky.
In fact, RYSE currently holds 4 patents in the US and Canada, with 3 more pending – with an Amazon Court Judgement win that allows them to remove copycats from selling on Amazon. Holding this IP in a market poised for explosive growth presents a huge opportunity for investors. The company is currently raising $15 million from investors through an SEC qualified Regulation A+ offering. That means it is open to any investor looking to make a potentially lucrative play.
Our lives are already incredibly interconnected and that trend will only continue. Our homes will be hubs of interconnected devices that will automate many aspects of our lives. This will drive a massive increase in revenue for the IoT and smart home industries, making this an exciting time for the space.
See more from Benzinga
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.