DUBLIN, August 8, 2017 /PRNewswire/ --
The "Smart Homes: M2M Market - Global Drivers, Restraints, Opportunities, Trends, and Forecasts to 2023" report has been added to Research and Markets' offering.
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.
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.
The key vendors offering solutions for smart homes include Google, Honeywell, Vodafone, Samsung, and Panasonic.
- Enhanced global broadband connectivity
- Increased investment in smart cities, IoT, and M2M communication system
- Adoption of digital lifestyle
- Need for safety and security arrangement
- High upfront cost
- Lack of standards and interoperability
- Low awareness
- Opportunities for growth of wearable devices
- Opportunities from developing economy
- Opportunities for telecom providers
Key Topics Covered:
1 Industry Outlook
2 Report Outline
3 Market Snapshot
4 Market Outlook
5 Market Characteristics
7 Connectivity Technology
9 Vendor Profiles
- ABB Ltd.
- Cisco System
- General Electric
- Google Inc.
- Honeywell International Inc.
- IBM Corp.
- Microsoft Corp.
- SAP SE
For more information about this report visit https://www.researchandmarkets.com/research/x82nmf/smart_homes_m2m
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets