Smart home technology company Zimi has seen record device pairings in three of the last four months which the company says shows an accelerated market adoption as it prepares to launch into an adjacent smoke detection market. Zimi estimates the global smoke detector market will grow to about US$3 billion in five years.
Smart home technology company Zimi presence in the space of light switches, power points, blind controllers and garage door controllers continues to build momentum.
The company has seen record device pairings in three of the last four months which management says shows an accelerated market adoption as it prepares to launch into an adjacent smoke detection market
Zimi’s products can be fitted in new homes or retro-fitted to older residences by regular electricians.
There are about 10 million dwellings in Australia and Zimi estimates each has probably about 30-40 devices that could potentially be improved technically.
In its latest quarterly report, ASX-listed Zimi outlined its three-phase growth plan.
Phase 1 is underway with new products coming to market this year and next, including the upcoming Senoa range of premium switches to control lights, power points and such by voice.
Phase 2 will use AI to enhance the safety alerts and energy management features of its services and products and Phase 3 sets out a path for Zimi to go global.
It's nothing if not ambitious but Zimi already has runs on the board with its product range and has worked previously with the likes of Google.
Now, it’s working in the Connectivity Standards Alliance with more than 400 technology companies, including Apple, Amazon and Samsung, on a new industry standard called “Matter” to make all their various products work together seamlessly.
Zimi CEO, Jordan Tentori said: “What ‘Matter’ means is that these smart products will do more. Zimi will evolve to ‘Matter’ and we’re developing a module for it. If you don’t have Matter in years to come, you simply won’t be a provider in this market.”
Tentori says Zimi devices will evolve to doing simple things such as announcing that you’ve left home with the heater on or left the fridge door open.
The company expects other smart products to emerge on to the market soon, including Senoa switches and a smart smoke detector called Zimi Smoke Connect.
The smoke device will send both notifications and automated phone calls announcing the detection of smoke.
Zimi estimates the global smoke detector market will grow to about US$3 billion in five years.
“We’re pioneering this and I’m really proud that in addition to convenience and voice-assisted control and all those things smart devices do, we’re also adding true value in safety,” Tentori says.
“It’s peace of mind. A lot of smart products are just a bit gimmicky but we take it really seriously and ask, ‘how will it better my life in safety, convenience or in lifestyle?’”
Importantly, Zimi’s switches can be activated by using a finger, touching an app on a smart phone or by voice activation with devices like Google Home.
Voice-controlled devices will be significant for the company as they expand Zimi’s market to those who are not technology-savvy and to those with mobility problems.
Zimi is aiming to restore independence to those suffering disability problems by allowing voice control to improve the quality of life in their homes.
Its latest products devices are already being adopted by Saorsa Health, a provider of National Disability Insurance Scheme, or “NDIS”, housing in Queensland that builds NDIS multi-tenanted homes.
Tenants will be able to control switches with their voice using the Google Assistant TVs or bedside smart speakers to be included in the development.
The micro-cap pioneer believes the combination of artificial intelligence, or “AI”, machine learning and the Internet of Things, or “IoT”, will revolutionise how we live – and in the not-too-distant future.
Zimi is already making big changes with its suite of products and services that connect everyday electrical products to the internet and each other to make smarter and safer living areas and workspaces.
Unlike many other micro-cap businesses in the high-tech space, Zimi is not still in the research and development phase and has products up and running, thanks to its national distribution partnerships with the likes of Beacon Lighting, Harvey Norman and electrical wholesaler Trader, which supplies about 1000 stores.
Those products help Australians turn on lights and power points and open garage doors and blinds through phone apps and by voice-activated home “assistants”.
Given IoT’s potential across vast swathes of industry, communications, transport and infrastructure, there seems no boundaries to the fortunes for IoT and the companies involved in it.
The value of the sector is growing exponentially – one estimate put it at 22 per cent last year – and it’s expected to grow to a staggering $2465.26 billion by the end of the decade.
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