NEW YORK, May 30, 2016 /PRNewswire/ -- Analysis of Asia-Pacific Internet of Things in the Home : Increasing Connectivity Leads to Exponential Growth in Smart Homes Market
The Internet of Things (IoT) is widely regarded as the bedrock of the next industrial revolution. However, the impact of IoT is not restricted to the enterprise or the industrial sector alone. It is poised to completely revolutionize the lives of consumers as well through wearables and sensors in virtually every object in the home. Increasing connectivity in Asia-Pacific is driving the adoption of smart homes in the region. This report analyzes the IoT phenomenon in the home, while providing market segmentation and forecast, ecosystem analysis of solution providers, and use cases.
-The Internet of Things (IoT) in the home market, also referred to as the smart home market, in Asia-Pacific (APAC) will reach $ billion in 2020 driven by strong demand for home automation, efficient energy management, and enhanced home security.
- Data privacy and security concerns are the biggest factors impeding widespread adoption. As a result, security features such as secure SSL encryption and Trusted Platform Module (TPM) integration will gain prominence in the coming years.
- There are several short-range wireless technologies such as Bluetooth, Wi-Fi, and ZigBee that are being used to connect individual appliances to a home hub. These technologies are playing a critical role in enabling the actual realization of IoT within the home.
- IoT in the home is an extremely hot sector for mergers and acquisitions (M&A) and strategic alliances as witnessed in the acquisition of Smart Things by Samsung and Nest Labs by Google. The year 2016 is likely to see more M&A activities and much larger deal sizes in the smart home space.
- To maximize the potential of the connected home, all the different devices and services need to be able to interact with each other seamlessly. Therefore, collaboration and interoperability between companies from different sectors is crucial.
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