Why the 'Smart Home' Market is About to Take Off

Google’s $3.2 billion purchase of Nest Labs last week turbocharged the market for connected homes, fueling hopes that 2014 will be the year of the “Internet of Things.”

While manufacturers still have their work cut out for them trying to move this phenomenon beyond just the tech-savvy early adapters to the majority of consumers, Google's entry might be the catalyst that enables the industry to finally blossom.

The Mountain View, Calif.-based tech giant joins a number of other big industry players such as Honeywell and Microsoft as well as a slew of startups that are already betting this market will take off in the near future.

“I think Google’s entry is going to make people really sit up and take notice,” said Brian Proffitt, a technology expert and adjunct management professor at the University of Notre Dame.

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