A decade ago, Samsung’s Family Hub Refrigerator became the poster child of the smart home revolution. It was marketed as “the smart way to manage food,” and it was a success. But today, as the smart product market matures, selling “smartness” alone isn’t enough. Indeed, while the smart home products industry is currently projected to reach $537 billion by 2030, three out of four projects in the space, by some estimates, still fail to deliver expected value.
