GTT Group appointed Exclusive Monetization Advisor to Internet of Things Patent Portfolio
Global Technology Transfer Group, Inc. (GTT Group), the premier provider of patent analysis and transaction advisory services to information and communication technology companies worldwide, announces the availability of a patent portfolio related to connected devices in a Smart Home environment.
The portfolio contains 12 issued U.S. patents and one US application in eight patent families. The portfolio is relevant to the control and automation of connected devices in a home or a business environment.
The emergence of the Smart Home is something that has been discussed for decades. The potential for increased consumer comfort, security and convenience has fueled our imaginations as evidenced by the futuristic homes portrayed in movies. While this vision of a smart home has driven a significant amount of investment from technology companies, consumer adoption has lagged expectations.
This lack of adoption has been attributed to several factors, including the complexity of deploying connected devices, limited functionality of devices and the lack of interoperability, leading to poor user experiences. Companies today are attempting to address these barriers by providing feature rich devices, increased integrations and improving the user interface for managing all of a user’s connected devices.
Several inventions in the portfolio relate to the management and support of connected devices. According to Boston Consulting Group, the connected device market is projected to reach $267B and will include 24 billion Internet of Things (IoT) devices connected to the internet by 2020. The dramatic increase in connected devices has resulted in increased competition from large technology enterprises seeking to provide the platform to manage these devices. The automation patent portfolio includes key technologies or features that have become fundamental to device management platforms.
The Home Automation market, a significant segment of the IoT market, is projected to reach $78B by 2022 according to Research and Markets and includes products such as security cameras, electrical appliances, thermostats and lighting. The portfolio contains inventions that cover key features of the Smart Home, including home monitoring and security.
“The Internet of Things and Home Automation markets are growing rapidly and patent portfolios in these areas are receiving wide market interest,” said GTT Group Director of Asset Services, Andrew Godsey. “These inventions cover common features used in connected devices on the market and we expect the Portfolio will be an attractive offering.”
To receive more information about this opportunity, please contact Andrew Godsey. All inquiries will be kept strictly confidential.
GTT Group is approaching potential buyers and providing materials explaining the strategic advantages of acquiring the portfolio. In addition, GTT Group’s subject matter experts will be available to discuss the strengths of the patents and evidence of use in the market. GTT Group expects the portfolio to be fully divested by the end of April 2017.