Why to file patents and patent applications to increase your round of Startup funding.
In technology driven era which is the fastest innovation based growing markets in the world?
The answer to this question is tricky. In India, we are talking about smart cities which is on mandate by our honourable PM Modi. Asia Pacific Smart Home Market is expanding rapidly and because the technology is patent protected the implementation of innovation is expensive to the consumer.
A lot revolves around the Patents and Patent Applications filed by the technology veterans. Major players in the smart home market are ABB, Emerson, Honeywell, Schneider Electric, Siemens, LG, etc. who are launching new products and services for the smart home consumers. Strategy is simple provide luxury to the upper middle class where the CTC of every individual is more than 1 Cr.
Major players in the smart home market are ABB, Emerson, Honeywell, Schneider Electric, Siemens, LG, etc. are launching new products and services for the smart home consumers.
India is a country of 1.3 billion population. Imagine the potential this country have in terms of ROI to the investors across the globe. At one point of time huge population was a taboo and today it is an asset to the country. Numerous factors contribute towards this huge increase in the smart home market. Some of the factors that are important are economic growth, huge population, increasing urbanization, geographical location, need for home automation and a big telecom conglomerate entering tier 2 and tier 3 cities.
As the urbanization and job opportunities are increasing, the demand for residential smart homes is also expected to increase. There is growing concern for energy usage and the shortage of the same in the region. The energy usage will give rise to energy harvesting technologies and patents would be filed to protect new age innovation solving old problems.
Smart homes market is segmented on the basis of technology into Bluetooth, WiFi, GSM/GPRS, Zigbee, and RFID.
On the basis of geography, the market has been segmented into China, India, Australia, and others. The technology these days has become quite advanced and has enabled various devices to be connected and controlled by one device via the communication network commonly called internet of things or internet of connected devices. Iot is used by smart homes. In smart homes various devices, such as CCTV cameras, lighting, AC, TV, washing machine, etc., can be controlled by either a remote or a smart phone or tablet.
The working of of different tech based devices is pretty simple. Smart homes devices can be switched on or off from a different location, if the device controlling them gets a signal for the same. This overall process can assist in energy conservation.
In simple words making the devices intelligent when people often forget to switch off lights or some devices while leaving the house.
Telecom industry has grown by leaps and bounds in Asia Pacific as the preferred mode of communication. The number of subscribers of internet is very large in the region. The penetration percentage of smart phones is also huge.
Smart phones are becoming cheaper to cater different masses. Many of the patented innovations and technologies are claiming Bluetooth, GSM, Zigbee, Wi-Fi or RFID, which can be used to send the signals to control the tech devices. It is easy to install these systems in a house, which is being built rather than retrofitting older houses.
The initial cost of installation of different equipment used in smart homes is high as there are many patented devices involved in building the system. There are continuous R&D activities going on by the companies, which will reduce the costs and at the same time negotiation are talking place for good licensing deals. Additionally, there are new players entering the Iot market, which is expected to healthy competition and reduction of prices in the coming years.