[July 01, 2016]

Adoption of Cloud-based Technologies for Smart Home Applications Will Significantly Augment the Smart Home M2M Market in Western Europe Until 2020, Says Technavio

According to the latest research study released by Technavio, the smart home M2M market in Western Europe is expected to grow at a CAGR of over 39% until 2020.

This research report titled 'Smart Home M2M Market in Western Europe 2016-2020', provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up-to-date analysis and forecasts for various application segments, including energy management and climate control systems, security and access control systems, lighting control systems, home appliances, home entertainment systems, and Healthcare systems.

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"IoT-related smart home applications include home automation, access control, home monitoring, lighting control, fire or water leak detection, temperature monitoring and HVAC control, family care, and automated meter reading. Of these applications, smart home security is the most demanding application from the consumer," said Rakesh Panda, one of Technavio's lead analysts for machine to machine research.

"Most of the residential users are rapidly adopting cloud-based residential security solutions that provide a self-monitoring and remote service solution. It provides a user-friendly interface to homeowners, helping them to arm, disarm, and check the security status of their house from a remote location," added Rakesh.

Smart home M2M market segmentation by application in Western Europe 2015-2020 (USD billions)

Energy management and climate control systems

The smart home M2M market in Western Europe by energy management and climate control systems was valued at USD 1.33 billion in 2015. Almost 40% of the overall energy generated is consumed by buildings. The power is used for heating, cooling, air conditioning, and ventilation. Depending upon the climate changes, the controlling levels get adjusted automatically. So, with the installation of these systems at residences, the usage gets reduced drastically and can reach a threshold level where energy independent living becomes crucial.

The market for energy management in Western Europe is driven by wireless Internet penetration and the growing awareness of cloud services among consumers. The market is also driven by the emergence of technologies such as ZigBee (News - Alert) and Wi-Fi.

Nearly 70% of the households in Western Europe use Wi-Fi technology to manage energy. However, consumers are adopting ZigBee at a faster rate, and this technology is expected to surpass Wi-Fi by the end of the forecast period. Energy management systems are widely adopted to manage electricity inside a building.

Security and access control systems

The smart home M2M market in Western Europe by security and access control systems was valued at USD 1.11 billion in 2015. Security and access control feature helps identify the visitors of a home through Wi-Fi enabled camera systems. This feature automatically controls and detects the actions at home in the owner's absence. The system is connected to the Internet, which helps eliminate physical control. Access control has shifted from conventional systems to sophisticated systems, enabling biometric technology for proper authentication.

The market is driven by the increased adoption of indoor and outdoor security devices by residential users. The demand for security cameras, intruder alarms, and smoke detectors is high among residential users. Several companies such as BT (News - Alert) are offering connected home M2M security hardware and services at reasonable prices. Declining prices of devices are also responsible for driving market growth.

Lighting control systems

The smart home M2M market in Western Europe by lighting control systems was valued at USD 950 million in 2015. The availability of affordable do-it-yourself (DIY) smart home automation products is likely to enable IoT technology in home environments over the next few years. The decrease in the cost of devices, replacement of upfront installation cost by monthly subscription plans, improved broadband ecosystem, favorable government initiatives, and rising disposable income are also positively contributing to the growth of the market.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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View source version on businesswire.com: http://www.businesswire.com/news/home/20160701005024/en/

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