Addressable markets

When exploring the IoT addressable market, there are several approaches available to make segmentation possible, such as differentiating from technology specifications, application designs, business models, or applicable verticals. However, this chapter will focus on an easy-to-understand market segmentation approach based on the application’s premises. This approach can be especially beneficial for beginners to precisely identify their target market for innovation. By understanding where applications are being deployed, beginners can gain valuable insights into the specific needs and challenges of various locations.

Residential

A smart home is a convenient and accessible environment for beginners to practice their first IoT innovations. It provides a low-hanging fruit scenario for newbie developers to experiment with their innovation.

One major advantage of a smart home is its easy access to existing home Wi-Fi networks, eliminating the need for...