Smart Home M2M Market:-The smart homes assimilate technology with our lifestyle to suggest greater ease and comfort and deliver improved benefits such as security and energy maintenance. The modern home automation devices support to renovate a house into a push button smart home that can be effortlessly controlled with a tablet, a smartphone, and computer. Smart homes M2M agreement with the home automation services by linking several types of machines and devices allowing the remote monitoring and control. The technology imparts numerous advantages such as home care for elderly and disabled, energy efficiency, entertainment, comfort, safety, and security. Moreover, the key players of this market are doing effective developments in the technology which decrease the efforts of a human body for producing something or doing anything with better consumer satisfaction. Developments in technology lead the market grew more significantly around the globe during the forecasted period.
According to the report analysis, ‘Smart Homes M2M Market Research Report’ states that there are several key players which are presently performing in this market more enormously for leading the highest market growth with the effective developments in the technology which further provide better consumer satisfaction and decrease the time of doing work by a human body includes Google, Honeywell, Vodafone, Samsung, and Panasonic. In addition, the key players of this majorly focus for enlarging their premises across the globe for attaining the highest market share with the creation of high profit. However, many of the players are establishing their e-commerce platform for accomplishing the growing demand for home automation technologies which save energy, time and cost more effectively. Therefore in the near future, the market will increase around the globe with a huge amount of investment in the development of technology which enhances the production or way of doing work.
According to research, it is projected that the Smart Homes M2M Market will witness a significant CAGR of 28.1% during the forecast period of 2017-2023. However, great upfront cost, the absence of standards, and interoperability are acting as barriers to market growth. Whereas, the extraordinary penetration of broadband network, significant growth in digital technology, acceptance of Bluetooth and Wi-Fi, the proliferation of smartphones and tablets and requirement for energy proficient solutions in homes are driving the Smart Homes M2M Market growth.
Additionally, on the basis of region, the market is spread across the globe which majorly includes developed regions with the highly educated populace. While, North America is the most progressive smart home market around the globe with an installed base of 12.7 million smart homes at the end of 2015, which is predicted to rise to nearly 46.2 million by the end of 2020. Nearly 70% of household in Western Europe utilize Wi-Fi to maintain energy. However, the effective acceptance of ZigBee is growing with anticipation to exceed Wi-Fi by the end of 2022. It is projected that by 2020, around 2.5 million Western European households will be furnished with a smart home controller. The APAC region is increasing at a high pace owing to the cloud-based technology, smart city initiatives, and an augmented penetration of wearables, particularly in India, China, and Japan. The scenario in MEA is fluctuating and increasing the market owing to the increased spending on smart community projects and augmented acceptance of sensor technology. Therefore, in the near future, it is expected that the market of smart homes M2M will increase across the globe more significantly over the recent few years.
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Ankur Gupta, Head Marketing & Communications