Defining the Internet of things as "simply the point in time when more 'things or objects' were connected to the Internet than people", Cisco Systems estimated that IoT was "born" between 2008 and 2009, with the things/people ratio growing from 0.08 in 2003 to 1.84 in 2010.
IoT devices are a part of the larger concept of home automation, which can include lighting, heating and air conditioning, media and security systems. Long term benefits could include energy savings by automatically ensuring lights and electronics are turned off.
A smart home or automated home could be based on a platform or hubs that control smart devices and appliances. For instance, using Apple's HomeKit, manufacturers can get their home products and accessories be controlled by an application in iOS devices such as the iPhone and the Apple Watch. This could be a dedicated app or iOS native applications such as Siri. This can be demonstrated in the case of Lenovo's Smart Home Essentials, which is a line of smart home devices that are controlled through Apple's Home app or Siri without the need for a Wi-Fi bridge. There are also dedicated smart home hubs that are offered as standalone platforms to connect different smart home products and these include the Amazon Echo, Apple's HomePod, and Samsung's SmartThings Hub.