Albany, NY -- (SBWire) -- 06/21/2018 --Presence of a considerable number of large vendors makes the global smart home M2M market fragmented in nature. The players include platform providers, telecommunications operators, chip providers, original equipment manufacturers (OEM), and device manufacturers. Stiff competition prevails among them.
Majorly fuelling the global smart home M2M market is the adoption of smart home security systems, which steal a march over manually operated traditional systems, with superior features such as text message based motion detection notifications, remote monitoring of residential property, and automatic opening of doors and windows when smoke alarm is sounded, among others.
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Another factor stoking growth in the global smart home M2M market is the increasing sales of smart appliances such as vacuum cleaners, washing machines, HVAC systems, kitchen equipment, televisions, etc., lighting systems, and other connected consumer electronics.
A report by Transparency Market Research forecasts the global smart home M2M market to rise at a robust 13.3% CAGR between 2017 and 2025 to reach a value of US$16.316 mn by 2025 from US$5.421 million in 2016.
Energy and Climate Management Application Segment Leads Market
Based on applications, the global smart home M2M market can be divided into energy and climate management, access and security control, home entertainment, and lighting, among others, including M2M technology for connected wellness and smart appliances.
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At present, energy and climate management segment dominates with a leading share. In 2016, the segment held over a fourth of the share in the market on the back of increasing wireless internet penetration and the growing awareness of cloud services, among consumers.
Strengthening Economic Fundamentals Make Asia Pacific Promising Market
Geography-wise, the main segments of the global smart home M2M market are North America, South America, Europe, Asia Pacific, and the Middle East and Africa. North America, powered by the U.S., among them, accounted for a dominant 35% share in the market in 2016. Some of the growth drivers in the region's market are awareness about the benefits of home automation, widespread availability of different home automation products, concentration of numerous vendors, and easy availability of skilled personnel required for home automation.
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Europe trails North America in the global smart home M2M market vis-à-vis revenue. Asia Pacific is another key market, which is being bolstered by the countries of China, India, and Japan.
Some of the prominent names operating in the global smart home M2M market are Cisco Systems, Inc., AT&T, Inc., Gemalto NV, Intel Corporation, Vodafone Group PLC, Telit Communications PLC., Deutsche Telekom AG, Sprint Corporation, KORE Wireless Group, Inc., and Sierra Wireless, Inc.
2018 Smart Home M2M Market Survey: Technology, Application, Growth, Trends, and Forecast Up to 2025