To me, having single point of control can be a drawback. What if I lost my smartphone, I would lost control of my stove, microwave, dishwasher. Seriously, it actually makes operation of appliances a lot more complicated than it is today.
Controlling of light in a central panel have been done way before smartphone era. Application of IoT, I believe, has to be smarter than this. For example, light is turned on and off depending on whether there are people in the room. Motion sensing light switch?
In my opinion, at this stage, one of the area of IoT development is data collection. For example, weather pattern, temperature change and rain level in various area around the globe. Those information can be fed to a central open database for scientists to study. With this said, IoT device shall be extreme low power consumption and can be deployed easily in remote location.
I'm pretty sure there are a lot of industrial and military application of IoT. For home use, if the value proposition is to make your life easier and to save money for you, it would be a good selling point. A smart A/C that can direct where temperature needs to be maintained may be one of the many applicable ideas. The idea involves small temperature sensors and human sensors (e.g. IR sensor and motion detection) being installed all over in your home. The duct to direct cold or hot air into your different room wil be controlled remotely depending on the sensor information.
Many comments here are missing the point of iOT. It's not about getting the appliances to talk. Heck, it's hard enough to get engineers to communicate with each other and these are the guys who will get appliances talking? I've been trying for years to get my fridge to just talk it out with the stove but they are both the strong, silent type.
To me the value of iOT is having a single remote control that covers all appliances that I care to control or monitor remotely. And yes, that includes using the remote to turn on or turn off the radio when I am watching TV as both use the same speakers.
@bk11, LOL. Actually, my mother-in-law was doing something similar (although she never owned two dishwashers. )She never put her dishes away from her dishwasher. Her dishwasher tunred into a permanent storage space and she rarely ran the machine!
@C VanDorne, thanks for your respond. No, I know exactly what you mean. And that's a good concept that builders and designers of IoT should keep in mind. Aftrer all, when we discuss "security" of data, what's often missing is: security in whose point of view?
@bk11: This one is easy to solve. remove some cabinets and install another diswasher or two. Leave the clean dishes in the dishwasher until you're ready to use them, then load the dirty ones in another washer. When that one gets full of dirty dishes, run it and use another washer for dirty dishes!