How to Ride the Smart Home Wave

From Adam Gettings for Techonomy: There's a sizeable "smart home" wave building. The smart home and building technology market was $4.8 billion in 2012 and a report by Allied Market Research predicts it will grow to $35.3 billion by 2020.
 
Not surprisingly, many startups, retailers, and established tech companies hope to ride the wave. Surfing is hard to do. Not everyone will get the timing right. But some strategies will make it a lot less likely that companies will wipe out.
 
Open Up Your Platform:  Everyone's racing to make their own smart home platform, but few of them are open. Now I don't mean open source, like the Android Open Source Project or Apache Hadoop-those projects are incredible for the technology industry, but open source isn't right or always possible for every company. Rather, I mean these smart home platforms need to be open by offering APIs and other developer toolkits to allow easy interoperability with other products within the ecosystem (or even allowing other brands to license their technology to create totally new products). Developers understandably want to maintain control over their products, but too tight of control can also limit a product's potential.  Cont'd...

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