3 Ways How Businesses Can Use Data from Smart Homes

Smart homes are getting popular. People are investing heavily in smart homes to save money and to gain control over their home and all the devices. Statistics by Ooma show that there are between 6.4 billion and 13 billion smart home devices in use and the projected growth of smart homes in the US is expected to reach 28% in 2021.

These smart homes are powered by the Internet of Things (IoT), and according to Gartner, it is a $235 billion industry, and on average, 5.5 million new devices are connected each day.

Understanding a smart home and its data

A smart home uses several IoT devices. All the devices are connected wirelessly to your home’s network and can communicate with each other to provide consumers with a seamless user experience.

These devices have sensors and software that let them communicate with the network and other devices. The data collection is at the heart of smart homes because this is how these devices work. They constantly collect data from several sources and use it to provide users with a better user experience.

According to Daniel Knight, the technical director of Fibaro UK:

“All the data we leave behind us is owned by those who collect it. …

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