The Internet of Things at home market is set to grow from $285 million in 2015 to $3.2 billion in 2019, according to analyst firm, Telsyte.
Telsyte estimates that by 2019, the average household will have 24 Internet-connected devices, up from nine in 2015.
The IoT boom at home will be evolutionary at first as vendors will quickly move to integrate connectivity into existing products and services including whitegoods, gardening, security and energy management, Telsyte said.
“The Internet-enabled ‘whitegood’ will finally become the norm, as most manufacturers - aided by the lower cost of micro-processing - build wireless Internet connectivity into most of their products,” Telsyte senior analyst, Steven Noble, said.
The analyst firm’s research has shown that consumers that bundle VoIP with their broadband plans, budget seven times as much for a smart home system, compared non-bundlers.
Vendors such as Samsung have already committed to connecting 90 per cent of new products to the Internet by 2017, and all of them by 2020, and companies such as Ikea and Breville, will also delve into IoT, Telsyte said.