The home and it’s owner – a changing relationship: A Crowdsight Analysis
Intelligent home security has been an interesting concept for years – and a constant feature of science fiction writers – but until recently it hasn’t been a reality. With smart-device proliferation and increasingly affordable state of the art electronics that is changing.
In the US alone, currently less than 1% of homes employ full smart home technology, but by 2018 it is predicted that over 45 million smart home devices will have been installed, with annual business volume of over $12 billion.
When it comes to this smart revolution start-ups are leading a charge! We’ve used Crowdsight, our crowdfunding analysis tool, to see what pioneers are doing on sites like Kickstarter and how consumers are reacting to the emerging concepts.
There appear to be three fundamental aspects to the smart security devices/ systems getting funded. 1) They are aesthetically unobtrusive; 2) they are simple to use – requiring no further interaction once setup and; 3) easy to adapt/ extend (e.g. add more sensors to; protect more of the home).
Whilst security is at the heart of such devices (like Point and Blink) people are interested in those systems that have the ability to go beyond ‘just’ security. For example, Notion is a multifunctional system that provides one simple interface for you to know all you might want to know about your home – from how full a BBQ’s propane tank is, to when your child returns from school, to notifying you the second a water leak is detected). These three projects alone have:
- Been backed by over 10,000 people
- Gained almost $1.6 million of investment
- Been overfunded by over 500%
Looking after the home, feeling safe and secure is a prime need; one that technology is well placed to answer. But perhaps, what is more interesting is how these technologies are starting to change the relationship people have with their homes and their belongings contained within. It’s something we’ll be watching very closely as it spreads to new uses and brings more brands and consumer interactions into the fold.
Brand Genetics are pioneering the analysis of crowdfunding sites to help brands through Crowdsight – our tool to help gain foresight into future market shifts, providing future-focused innovation platforms and inspiration.
Brand Genetics will be presenting Crowdsight at the Insight Innovation Exchange Europe (IIeX), 18-19th February 2015, Amsterdam