TMCnet News

Global Smart Home M2M Market to Grow 37.69% by 2020 - Adoption of Cloud-Based Technologies for Smart Home Applications - Research and Markets

[August 31, 2016]

Global Smart Home M2M Market to Grow 37.69% by 2020 - Adoption of Cloud-Based Technologies for Smart Home Applications - Research and Markets

Research and Markets has announced the addition of the "Global Smart Home M2M Market 2016-2020" report to their offering.

The report forecasts the global smart home M2M market to grow at a CAGR of 37.69% during the period 2016-2020.

Bluetooth technology for actions like controlling light bulbs and clicking a picture of the person outside the home for identification purpose are gaining popularity in the market. The main advantage is the easier and the fast communication that occurs due to Bluetooth technology, unlike Wi-Fi that consumes time due to cloud networking for transferring and retrieving the information.

According to the report, one of the key drivers for market growth will be rise in demand for energy conservation systems. The adoption of appliances such as TVs, refrigerators, security cameras, dishwashers, and microwave ovens is increasing rapidly in APAC countries such as China, Japan, Malaysia, Singapore, India, and Indonesia. These appliances consume large amounts of energy to function efficiently. Owing to rising energy costs, consumers are seeking energy efficient solutions such as smart homes. A smart home uses efficient technologies such as programmable thermostats, occupation detectors and motion sensors, solar-powered products, and zone-based thermostats to conserve energy and improve efficiency.

Further, the report states that high cost of M2M security systems will be a challenge for the market.

Key vendors: