Consumer Internet of things also widely known and abbreviated as CIoT has been seen to change the lives of people since it covers everything that is technologically smart and able to communicate with other devices and networks as well. The Internet of things IoT is known to using many applications and technologies which often makes people do not realize its purpose to them.
There exists a difference between CIoT and IoT which mainly lies in the devices or rather technologies that drive them to their purpose. Many of the investments and applications found in IoT are for the Industries such as logistics, manufacturing, healthcare, agriculture, automotive and industrial markets.
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The Internet of Things IoT was first coined by a Kevin Ashton a British entrepreneur who believed said that the Internet covers everything deemed technologically smart. He believes that all physical things had to have IP addresses for them to communicate with the other physical materials and thus consumer IoT helps to incorporate some of the products that are aimed at the consumer space.
Some of the main players that are in the consumer IoT include technology which is considered as a vital intermediary in bringing some of the benefits around the people of the world. It is useful since many consumers can now receive
Greater decision-making support
Remote fixes and,
Shorter feedback loops
Most of the benefits of IoT to consumers is that the technology used has the potential to it becoming mainstream without the comprehensive understanding of what it may mean to others. There exists a perception for this type of technology becoming at the luxury end level of consumption. Some predict that 5G will be available in other countries compared to the technology that is in use currently. Many believe that these improvements are geared toward helping increase how we interact with each other thus increasing the level of innovation.
Internet of Things provide lots of benefits to consumers, however, there exist challenges that arise such as:
Complexity in the lines of liability, accountability, and lack of transparency on how each system and device works.
An increase in the scope and scale of devices, systems connected across more sectors which makes it difficult in regulating jurisdictions and sectors.
Most of the companies hold a significant influence and power since they are known to provide services to a mass number of people thus having the advantage over the other business organizations increase the likelihood to locking one provider.
An increasing number of hybrid products whose software require a license often governed thus increasing an erosion in the ownership expectations.
Many healthcare facilities in the country benefit immensely from IoT. It has brought the opportunity of linking personal healthcare, the payers and the providers who are offering healthcare services to patients.
Many of the devices used such as heart rate bands, blood pressure, and others are powered by IoT enabling users to connect directly to the healthcare system enabling them to get timely assistance when faced with a healthcare problem. Wearables used in personal healthcare are becoming more popular in changing the way people work and live. Many of these devices have advantages known to either protect workers mostly purchased by consumers.
Consumer IoT to the market means that many devices are becoming more intelligent and thus many of the companies are trying bundle most of these technologies to try and improve the customer experience. Many of these devices and wearables designed and manufactured by these companies are intelligent and interconnected to try to capitalize on some of the growth potential and the Internet of Things space.
Many companies use the devices to learn some of the consumer purchasing algorithms that are necessary to understanding the various needs that customers are after. Most people try to ask themselves whether most of these machines can predict the future. Consumer IoT has enabled marketers and other manufacturing industries know and understand the actual buying patterns which are useful to helping them come up with special offers and pricing.