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The Indus Entrepreneurs (TiE) is a nonprofit trade group dedicated to fostering entrepreneurship and sponsor to TiECON, the annual conference for entrepreneurs from technology companies, venture capital firms, and service providers, released an infographic that highlights industry insights and predictions on the Top 5 Internet of Things (IoT) technologies for 2014 (full infographic below).
According to the infographic, the Top 5 most influential IoT technologies this year are smartwatches, health and fitness tracking, connected retail, virtual and augmented reality, and the automated home.
The automated home market is expected to reach revenues of $35.6 million by 2016, reports TiE, as more consumers leverage technology to help them save on utility bills. A homeowner can expect to save up to 20 percent in their home costs per year, an average of about $1,154 annually.
One of the most widely adopted home automation systems available today is temperature control, with popular products including the Nest smart learning thermostat and Belkin’s WeMo line of home automation solutions.
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