Energy And Security Are The First Priorities Of Apple Inc. (AAPL)’s HomeKit
Apple Inc. (NASDAQ:AAPL) looks set to take a more unique approach in its Internet of Things campaign with HomeKit. Initially, the company seemed interested in energy and security systems, which are said to be easier to install and likely attractive to any average homeowner. Apple’s other play in the connected world is HealthKit, a platform for profiling health records, and Apple Watch is leading its charge in the segment.
By looking at energy consumption and home safety and security categories, Apple Inc. (NASDAQ:AAPL) is apparently hoping to have an accelerated rollout of HomeKit and also drive revenue gains quickly.
The first batch of products enabled for HomeKit are expected to feature lighting controllers and energy consumption monitors in the energy category. In the home security category, the first batch of HomeKit offerings is expected to feature products like a locks controller.
Rapid growth in energy and security segments
The market for home-energy devices like the Nest thermostat is expected to have a robust growth of about 74% compound annual growth rate in the next five years to 2019.
On the side of home safety and security, the market is expected to grow at a compound annual rate of 77% by 2019, led by providers like Dropcam.
Apple pushing for higher standards
The reason there hasn’t been an early explosion in the HomeKit connected device framework is that Apple Inc. (NASDAQ:AAPL) is requiring partners to implement higher quality standards. For example, components used in HomeKit products have to go through a stringent certification process that has slowed down production. The company is also asking HomeKit developers to come up with products that do not drain too much on battery.
As much as these and many other requirements may have slowed down progress in the HomeKit framework, Apple Inc. (NASDAQ:AAPL) is driving to have outstanding products in the connected world.
The global broadband Internet connection of households is expected to hit 1.2 billion in the next few years, and this is expected to further drive the adoption of connected home devices.
Latest posts by Neha Gupta (see all)
- Is Facebook Inc (NASDAQ:FB) Winning Or Losing In Virtual Reality Space? - May 27, 2016 07:35 AM PST
- No Growth In Costco Wholesale Corporation (NASDAQ:COST)’s 3Q Comps Explained - May 27, 2016 07:34 AM PST
- How Will International Business Machines Corp. (NYSE:IBM)’s Big Data University Help? - May 27, 2016 07:33 AM PST