Smart and safter homes
We are all becoming more aware of the Internet of Things (IoT) connecting everyday objects that can send and receive data. A number of tech companies are using the IoT to transform the home living experience. How soon will we be living like George Jetson and his family with flying cars, robot servants and moving sidewalks? According to the following companies that are making strides in today’s smart home marketplace, it may happen sooner rather than later.
Nest
Nest has created a suite of self-learning, programmable and Wi-Fi-enabled products for the home. For the energy-conscious homeowner, there is the Nest Learning Thermostat that learns your preferred temperature and programs itself to make adjustments based on your schedule. Independent studies showed that the thermostat saved people an average of 10% to 12% on heating and 15% on cooling bills. Along with thermostats, Nest provides smoke and carbon monoxide alarms, indoor and outdoor security cameras and other security systems. Each of these pieces of equipment can be monitored remotely via a PC, laptop or mobile device.
Company growth: Google acquired Nest Labs for $3.2 billion in January 2014. At the time it had nearly 300 employees. After being separated from Google in 2015, the brand is now part of its hardware division and has more than 1,100 employees.
August Home
August Home has created a smart lock with a keyless entry system. You can easily provide family members, guests, staff members and friends with a secure access code that they can use to enter your home. You can monitor when individuals arrive and depart and remotely lock and unlock doors. Doors automatically lock as you leave and unlock when you arrive home. You will know who has entered your home and what time they entered and you’ll always know whether your doors are securely locked.
August launched its first product in 2014. A year later, the company added a smart keypad and doorbell camera to its lineup. Its products are now available at major retailers across the country and integrate with Amazon Alexa and HomeKit.
Company growth: August raised around $73 million and the most recent funding round closed in July 2017. August Home’s revenue for 2018 is expected to be around $60 million. In October 2017, Assa Abloy, the $23 billion Swedish lock company announced that it was buying the smart lock maker.
Canary
The baseline Canary system combines wide-angle camera lenses, alerts and an air monitor that require very little setup and installation. The air monitor assesses air quality, temperature and humidity to reveal the impact your home may be having on your health. Canary challenges major providers of alarm systems that come with expensive cameras and allows you to install your security system without drilling into walls.
Once Canary is set up and connected to Wi-Fi, you’re ready to go. The system provides a wide viewing radius, records in 1080p HD video and has automatic night vision. It can also send you notifications when motion is detected. If necessary, you can sound the 90-decibel siren and contact local emergency services straight from the app. The Canary Flex system provides an indoor and outdoor camera that is wireless and weatherproof.
Company growth: In 2013, Canary launched as a crowdfunded project. The company pre-sold more than 10,000 units around the world and raised nearly $2 million. It became one of Indiegogo’s most successful campaigns. Since 2013, Canary has raised more than $41 million.
Misty Robotics
What’s a smart home without a family robot? Misty Robotics is a spinoff of Sphero, the company that built the Star Wars BB-8 droid and showed us how much fun a toy robot can be. Instead of being something to play with, the Misty robot is being developed to perform practical functions. While the technology is not quite sophisticated enough for Misty to take the dog for a walk, make dinner or clean the dishes, Misty is available for programmers and developers interested in the robot.
“These robots will be seen and treated as our friends, our teammates and a part of our families — performing helpful tasks, providing safety and interacting with humans in entertaining and friendly ways that have only been seen before in science fiction,” the company said at its launch in 2017.
Company growth: Misty Robotics (which stems from robotic toy maker Sphero) began with a solid foundation and recently received $11.5 million in Series A funding led by Venrock and Foundry Group.
Ring
See who is at your door even when you’re not at home with Ring’s innovative smart video doorbell. With an embedded security camera and internet connection, you can use your smartphone, tablet or PC to see who is at your door and get real-time notifications. With its built-in microphone and speaker, you can also see visitors and speak to them. The smart doorbell is part of the company’s do-it-yourself “Ring of Security” that they promote, challenging the traditional and expensive monitoring and security systems.
Company growth: Ring sold more than 50,000 units per month in 2016, according to Fortune Magazine. The company, which was rejected on “Shark Tank,” was recently acquired by Amazon for over $1 billion. The company’s products are sold by some of the country’s top retailers in more than 90 countries around the world.
Learning and evolving
Customization, convenience and ease-of-use will be important to future homeowners. Learn how to take advantage of budget-friendly options.CLICK TO TWEET
Customization, convenience and ease-of-use will be important to future homeowners. Presently, the cost of some of the best smart home devices may seem a little high to the average consumer. But a lot of technology like Wi-Fi-enabled door locks and security cameras are fairly budget-friendly and affordable and can keep your house smart and safe.
Have more questions about smart homes or smart home technology? Speak with a Hippo specialist.
