According to the research conducted by the Institute for Information Industry (III), the number of smart home worldwide was about 55.4 million in 2016 and is expected to quadruple to 230 million in 2021 with over 15% of household penetration, representing tremendous business opportunities.
III (Institute For Information Industry) forms Smart Home Task Force in accordance with international IoT standards and tap into global smart home market
Expands GRL Test Solutions Leadership for Emerging IoT Standards
SANTA CLARA, Calif., December 6, 2016 – Granite River Labs (GRL), a global leader in engineering services and test solutions for high speed connectivity today announced that the company was selected to help develop and support IoTivity, an open source project enabling seamless device-to-device connectivity to address the emerging needs of the Internet of Things. IoTivity is sponsored by the Open Connectivity Foundation (OCF), a consortium of industry-leading companies working to unlock the massive opportunity in the Internet of Things market, accelerate industry innovation, and help developers and companies create solutions that map to a single open specification.
According to McKinsey & Company, the value of IoT applications is expected to reach $3.9-11.1 trillion, which shows the increasing number of connected devices. Taiwan’s connected consumer electronics industry has to break free from conventional equipment, redefine applications in smart home and connected technologies, and adopt more international technical standards in order to capture trillions of business opportunities while taking on IoT challenges.