Through early detection, sensors could also help reduce property damage from water leaks and fire.Our sensors detect home leaks are already being sold. Use of such IoT systems could help reduce home insurance premiums by up to 10 percent, we estimate. In total, it is estimated that the economic benefit of IoT-based safety and security systems could be $15 billion to $20 billion per year.
By analyzing IoT usage data gathered from household devices, manufacturers could determine whether the consumer is a good prospect for upgrading to another model or might be inclined to buy another product or service. Based on how the customer is using one appliance, such sales opportunities could be worth a considerable amount per year.
By analyzing IoT usage data gathered from household devices, manufacturers could determine whether the consumer is a good prospect for upgrading to another model or might be inclined to buy another product or service. Based on how the customer is using one appliance, such sales opportunities could be worth a considerable amount per year.
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