Smart home M2M market: Key market research findings
- Demand for energy-efficient solutions
- Increasing adoption of cloud-based technologies
Technavio has released a market research report on the smart home M2M market in APAC, which is expected to reach almost $4 billion between 2016 and 2020. High penetration of broadband networks, rising security concerns in households, increased mental and chronic disorders among the older population, growing awareness of digital technologies among residential users, and increased dependency on technology in daily life are the key factors contributing to the growth of the market. At present, South Korea dominates the smart home M2M market in APAC, accounting for over 33% of the market share in terms of revenue owing to the availability of high-speed broadband networks and increased smartphone penetration.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Wearable devices such as activity trackers, smartwatches, glucose monitors, heart rate monitors, health monitors, and pedometers are gaining popularity in this market. With the emergence of Internet of things (IoT), more people are using mobile devices such as smartphones and tablets for remote monitoring. Even governmental organizations across countries such as China, Japan, Singapore, and India are planning and investing in smart city projects,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research.
There is rise in the adoption of cloud-based home security services, owing to factors such as reduced complexity of software issues, interoperability, low cost of ownership, and on-demand scalability without any additional cost to the homeowner. The smart home cloud center platform, grouped into three categories—cloud service market, carrier market, and smart IoT gateway, provides users with features such as high-speed gaming, mobile app downloads, content transfer across regions, and multiple wireless user interfaces.
The key players in the smart home M2M market in APAC are China Mobile, China Unicom, Honeywell, and Samsung. The smart home M2M market in APAC is an emerging market and is highly fragmented due to the presence of numerous large and small vendors. The level of competition in this market is expected to increase rapidly as many telecommunication operators, platform providers, chip providers, device manufacturers, and OEMs are entering this market to reap the benefits of its high growth potential.
A more detailed analysis is available in the Technavio report, Smart Home M2M Market in APAC 2016-2020.
We can customize reports by other regions and specific segments upon request.
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