Smart home M2M: Key market research findings
- The Americas dominate the market geographically
- Home appliances account for a majority of the market’s revenue
- Key vendors – AT&T, British Gas, China Mobile, Comcast, Deutsche Telekom, Honeywell, Samsung, and Vodafone
Technavio’s market research analysts predict the global smart home M2M market to reach $97 billion by 2020. The market’s growth is driven primarily by the availability of enhanced broadband connectivity across the globe. Smart home systems are gaining traction with the advent of high-speed internet services from leading ISPs such as AT&T, Comcast, Sprint, and Verizon. Almost 15% of the households with broadband connectivity use smart home systems. Major companies such as Samsung, LG, and Panasonic are capitalizing on smart home technologies to attain a first-mover advantage in the market. During 2015, the global smart home M2M market was dominated by the Americas with a market revenue of more than $10 billion. The need for energy management solutions, availability of low-cost devices, and wireless DIY installations will propel the growth of the smart home M2M market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the smart home M2M segments based on the application.
“Smart homes enable interactive security systems that enhance security features for the users. Smart homes generally incorporate various automatic systems, which include motion and window sensors, thermostats, light controls, and door lock controls that receive remote control signals and perform required actions. This mode of communication also makes it possible to monitor pets using an advanced electronic and enhanced security system, which has remote access to the cameras at homes,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research.
By 2020, the home appliances segment will account for a market value of almost $20 billion to become the dominant shareholder in the market. Smart home appliances reduce the level of tediousness in carrying out home activities due to their automatic handling capability. These appliances not only offer ease of use but also ensure remote monitoring effectively. The use of smart home appliances will increase over the next four years owing to the increased adoption of smartphone devices.
The key vendors in the global smart home M2M market include AT&T, British Gas, China Mobile, Comcast, Deutsche Telekom, Honeywell, Samsung, and Vodafone. The market has high growth potential due to increased broadband connectivity in households globally. With the help of innovative products and advanced wireless communication protocols, consumers can monitor and control their homes from remote locations. Google is the market leader in the mobile market owing to the success of its Android OS. It is focused on making acquisitions to enter the smart home appliance market. For instance, in 2014, Google and Nest Labs acquired home CCTV manufacturer Dropcam. With this move, Google entered the home security segment, which is one of the key segments of the smart home business.
A more detailed analysis is available in the Technavio report, Global Smart Home M2M Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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