IKEA Smart Home Investment Could Be Boost The Internet Of Things Needs
IKEA: its stores are big and its revenues are big. In the financial year between September 2017 and August 2018, the Swedish multinational retailer earned €38.8 billion in global revenues ($43 billion). This obviously isn’t all profit though, because aside from what must be hefty operational costs, IKEA has just announced that it will “invest significantly” in the development of its Home Smart range, which will become its own business unit within IKEA of Sweden.
For those of us who haven’t got themselves lost in a nearby IKEA in recent years, the retailer’s Home Smart range consists in an expanding number of smart devices for the home, which via the wonders of the Digital Age connect to the so-called “Internet of Things” (IoT). It first launched in 2012, and since then it has seen IKEA sell such products as smart lighting systems and smart speakers, all of which can be controlled via connected smartphone apps.