Veego Software, an Israel-based startup that applies AI and other innovative technologies to generate data and insights from the connected home, today responded to the escalation in the number of connected homes globally and the future of the market with five predictions for 2021.
According to research firm Statista, “The global smart home market is forecast to grow to 53.45 billion U.S. dollars in size by 2022.”
With the number of homes increasingly deploying smart devices and multiplying their connections to the internet, the company is making the following predictions, expected to materialize in the coming year:
Prediction 1: Data, and lots of it. New technologies, especially AI, will enable the generation and collection of all sorts of data about what millions of users are doing on the internet, what home devices they are employing, what kinds of apps they are utilizing, and more. With insights gained from this data, media, app, device, and other providers will increasingly track and perfect their customers’ experience as they shop, learn, and play online.
Prediction 2: WiFi 6 will be flying off the shelves. Known in technical circles as 802.11ax, the new WiFi standard is already operating on a new generation of routers. Delivering improved security, lower battery consumption, increased capacity, and higher data rates, WiFi 6 is ideal for accommodating all those new smart devices home-internet users are installing.
Prediction 3: Measurement of Customer Experience over the internet. Communication Service Providers, media companies, and smart device manufacturers all want to measure Customer Experience (CX), and now they can. They also can find out how their service stacks up against competitors and how customers go about deciding among them.
Prediction 4: Malfunctions will be moving toward the devices. Till now, most home connectivity problems (75-90%) have been concentrated around the home router and WiFi signals. As routers become more powerful and capable, they will be responsible for relatively fewer problems. Now that internet users are working and learning more from home, pesky malfunctions will increasingly originate in new smart devices being installed in increasing numbers.
Prediction 5: Self-Care is prompt care. Communication Service Providers, online media companies, and smart-device manufacturers are being crushed by the volume of support calls and the time and complexity of dealing with them, not to mention the astronomical expenses. AI technology and all that new data will tell users at home what is causing connectivity problems along with recommendations for fixing them, deflecting and shorting support calls and making users happier with the prompt and effective care.
“2021 looks like another banner year for the connected home especially in the wake of the COVID pandemic,” Veego CEO, Amir Kotler, said. “More devices, more services, more apps, more time spent on the internet, invite AI and other technologies to help people with their online work, school, and entertainment. Veego is honored to be in the vanguard of advancement of connected-home technologies and progress.”