The Smart Home Market is Growing and Interoperability is the Key
According to a report published by Markets and Markets in 2016, the global Smart Home market size was $47B in 2015. The Smart Home market is projected to grow to $122B by 2022 with a 6 year CAGR (compounded annual growth rate) of over 14%. In a report by BI Intelligence in 2016, the most important technology hurdle for mass adoption of the Smart Home is Interoperability. This is where Lynx can help you capitalize on this rapidly growing market.
The Importance of Standards for interoperability
Some analysts predict there will be 25 billion devices on the Internet of Things by 2025. This is both a problem and an opportunity. While some devices can communicate with others, most will not without a universal language for the Internet of Things. Otherwise, device makers will need to choose between disparate frameworks (e.g. Apple, Amazon and Google) limiting their market share, or forcing them to develop across multiple frameworks. This can be costly and burdensome for device makers, not to mention unnecessarily complex for the average consumer.
“Over 26% of U.S. broadband households currently own a smart home device and 442 million connected devices will be sold in the U.S. by 2020,” according to Brad Russell, senior analyst with Parks Associates. “Solutions that enable wide-ranging interoperability are best positioned to succeed.”
This is why Lynx is a member of OCF (the Open Connectivity Foundation), and our smart home solution, Lynx Mind™, is based on the IoTivity framework (OCF's open source reference implementation). OCF is comprised of industry leaders, and was formed to address the problem of interoperability, in order that device makers might benefit from the large opportunity IoT can afford them. OCF has provided a smart home standard which provides device manufacturers investment protection through the shared participation of OCF members, industry leaders in their own right, for the advancement of the standard.
LYNX MiND BRINGS OCF-COMPLIANCE TO YOUR PRODUCT
Lynx MiND is an OCF-compliant smart home connectivity solution, and once your device is embedded with it, your device is also OCF-compliant. This means your device can become a smart home hub that will interoperate with other OCF-certified devices as well as provide a bridge to devices* on other smart home ecosystems.
The Benefits of Open Standards
OCF’s specifications are an open standard which affords broad scale interoperability. The Open Connectivity Foundation enables manufacturers to leverage all of the benefits of an open source, open standards community to quickly create and implement reliable, secure device discovery and connectivity across operating systems, platforms, transports, and vendors.
Our Solution is Based on the IoTivity Framework
IoTivity is an Open Source software framework, hosted by the Linux Foundation, as a reference implementation of the OCF Specification. IoTivity is a framework for secure interoperability for multiple operating systems, platforms, modes of communication, transports and use cases. Lynx MiND is an implementation of the IoTivity framework. Lynx is a member of the IoTivity Steering Group and the Planning Function Leader for IoTivity.
Ready to Get Started?
If you are ready to establish a business in the emerging smart home market, differentiate your products to increase unit sales and gross margins and introduce innovative business models to your customers, please contact us at: [email protected] or +1 (855) 596 9832 ext 1.
Lynx is a member of the Open Connectivity Foundation (OCF)
*Control of some smart home devices may require hardware-based and software-based bridges.