Competitiveness Enhancement of Home IoT Service by Smart Home Mirror Yeong Real Kim a, Tae Gu Kang b and Kyung Mun Kang c a Dept. of Management Informations,.Professor,,Chungbuk National University b Dept. of Management Informations,.Ph.D Cours,Chungbuk National University c SOMA System, Inc. President & CEO Introduction 1.Current Status and Issues of Smart Home Business 4. Conclusion 3. Smart Home Business Model Smart home business is in growing trend under recognition as one of the future businesses but its obstacles are calling for countermeasures and its functions are not enough to satisfy customer’s needs for houses that can be easily controlled by all-in-one control. Currently, its commercialization is not fully developed due to different OS by manufacturers of home appliances, lack of killer-contents, limits in sharing, insufficient user profile management, and burden of new investment. Thus, it is urgent to expand smart home focusing on the expansion package and evolve to personalized service, so smart mirror product is now regarded as the most powerful alternative to solve all the problems above which already reached a market scale of billion dollars in With social reputations and through satisfaction of previously impossible desires, smart home mirror is suggested as an alternative to overcome obstacles on the road of the smart home business and its potential will be contemplated. 1.1 Smart Home ? It is a human-centered smart life environment to realize convenience, improvement of welfare, and safe lives of people through convergence of IT with residential environment. It refers to all products, services, solutions, etc. which monitor, control, and operate household elements in its network: home appliances such as TV, air conditioner, refrigerator, etc.; energy consumption devices such as water, electricity, heating and cooling, etc.; and security devices such as door-lock, surveillance camera, etc [1]. 1.2 Development Stage of Smart Home · As High-Speed Internet service was widely provided in the late 1990s, domestic smart home business had a chance for invigoration of home network business but it was slipped away and stuck in gridlock. · Establishment of early stage of smart home due to popularization of smartphones in late 2000s · As IoT was commercialized in late 2010s, Situation Aware smart home is being introduced. 1.3 Domestic Smart Home Market and Prospect Domestic smart home market is expected to show 27.5% of annual average growth in turnover until 2017, and currently manufacturers such as Samsung and LG and network providers such as SKT are consolidating their status as the Big 3[2]. 1.4 Global Smart Home Market and Prospect As smartphones become popular now a days, the customers’ needs for smart devices such as ‘security, home appliance, health care, etc.’ which have interlinkage with smartphones are in increase trend, and the prospect of the market size for smart home is gradually expanding according to changes of consumption environment, expecting the growth of global smart home market scale up to 14.7 billion dollars by 2017[3]. 2.2 Hindrances to Satisfaction of Consumer Needs · High price of devices and low utilization · Unavailability of integrated control of home appliances · Different OS between home appliance manufacturers · Lack of killer contents · Limit on contents sharing · Late commercialization due to new investment 2.3 Plan to Meet Consumer Needs 3.1 Smart Home Mirror · Recommendation of clothes to wear according to result of weather analysis with previously provided clothes data · Try-on simulation service function · Try-on simulation at home before order without visiting stores · Provision of information for new products through preference analysis s · Comparison with existing clothes before purchase 3.2 Establishment of integrated IoT standard service model · Provision of standard platform through open-type smart IoT Home model to meet needs of consumers and support different products through liaison of smart home IoT service model with home and service support (medical service, tourism, public service, education, etc.) industry 4.1 Conclusion and Suggestion · Smart home business is in growing trend but new solutions should be considered to leap beyond it · Recently emerging smart mirror product market is in growing trend but it is showing its limits due to lack of unwavering direction in its value creation · Value revelation through smart home mirror takes its meaning as a solution to overcome obstacles in the smart home business. · Preparation of technologies for products and services of smart home business in the future through connection and integration between mirrors · Plan to prepare business model for sharing and integration of smart home mirror and smart home services (medical service, tourism, public service, education, etc.) · Expected effect of creating various business models by meeting needs of customers based on connection between smart home IoT service model with service supporting industry · Provision of standard platform to different smart home IoT products through development smart IoT home model 2. Issues in Smart Home Business Home Needs by Consumers · Convenient house with All-In-One connection by integration of home appliances and contents · Saving house with less time and labor for house chores · Information house with information available at every corner of interior · Controllable house easily by anyone 5. References [1] Hyeon myeong Pyo, “Creating smart home strategy economy”, Korea Association of Smart Home,2013. [2] KT Economic Research, “Smart home and abroad Trends and Implications”, Korea Association of Smart Home, 25.06,2013 [3] Teja Patankar, “2014 State of the Internet of Things Study from Accenture Interactive Predicts 69 Percent of Consumers Will Own an In-Home IoT Device by 2019”, Accenture, 19.08,2014.