Press release
Smart Homes: M2M Market Rugged Expansion Foreseen by 2023 : Orbis Research
Smart Homes M2M Market
Overview
Smart homes integrate technology with our lifestyle to offer greater ease and comfort and provide enhanced benefits such as energy management and security. The latest home automation devices help to transform a house into a push button smart home that can be easily controlled with a tablet, computer, or a smartphone. Smart homes M2M deal with home automation facilities by connecting different kinds of machines and devices enabling remote monitoring and control. The technology imparts various benefits such as home care for elderly and disabled, energy efficiency, comfort, entertainment, safety and security.
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Market Analysis
According to Infoholic Research, it is estimated that the Smart Homes M2M Market will witness a CAGR of 28.1% during the forecast period 2017-2023. The hypergrowth of technologies such as IoT, artificial intelligence (AI), RFID, wearables, and cloud computing are supporting the adoption of these technologies in homes. The integration of technology with home appliances is leveraging ways to save energy, time, and cost.
The high penetration of broadband network, growth in digital technology, adoption of Bluetooth and Wi-Fi, proliferation of smartphones and tablets and demand for energy efficient solutions in homes are driving the Smart Homes M2M Market growth. However, high upfront cost, lack of standards, and interoperability are acting as barriers to the market growth.
Segmentation by Regions
The Smart Homes M2M Market has been segmented and analyzed by the following geographic regions - North America, Europe, APAC and the MEA region. Americas is the leading region for the Smart Homes M2M Market followed by Europe.
North America is the world’s most advanced smart home market with an installed base of 12.7 million smart homes at the end of 2015, which is expected to increase to around 46.2 million by the end of 2020. Nearly 70% of household in Western Europe use Wi-Fi to manage energy. However, the adoption of ZigBee is increasing with an expectation to surpass Wi-Fi by the end of 2022. It is estimated that by 2020, around 2.5 million Western European household will be equipped with a smart home controller. The APAC region is growing at a high pace due to cloud-based technology, smart city initiatives, and increased penetration of wearables, especially in India, China, and Japan. The scenario in MEA is changing and expanding the market due to increased spending on smart community projects and increased adoption of sensor technology.
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Segmentation by Applications
The market has been segmented based on applications such as energy management & climate control system, healthcare system, home entertainment system, lighting control system, and security & access control system.
Segmentation by Connectivity Technologies
The Smart Homes M2M Market has been segmented by the following connectivity technologies- Wi-Fi, Bluetooth, Cellular Connectivity technologies.
Key Vendors
The key vendors offering solutions for smart homes include Google, Honeywell, Vodafone, Samsung, and Panasonic.
Competitive Analysis
Competitive benchmarking is done for the leading vendors based on key metrics- financial health, business units, business strategy etc.
Benefits
The study covers and analyzes the Smart Homes M2M Market. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, it helps the venture capitalist in understanding the companies better and take informed decisions.
The report provides an in-depth analysis and forecast about the industry covering the following key features:
The report not only highlights users’ conundrum (challenges and barriers to adopting smart homes M2M) but also brings in their perspective on the market
Covers the application segments: Lighting Control, Energy Management, Climate Control, Safety and Security, Healthcare, and Others
The market has been analyzed by considering the key regions - Americas, Europe, Asia Pacific, and MEA
The smart homes M2M market is analyzed based on connectivity technology (wired and wireless), applications, and regions
The report analyzes the top 10 players in terms of market reach, business strategy, and business focus
Provides an in-depth analysis of the key business opportunities in each application and technology type
Stakeholders’ insights and key trends (current and future) of the market
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