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Smart Home M2M Market : Growing Number of Open-ended Applications of Home Automation Devices to Bolster UptakeThe vast presence of a number of players in the global smart home M2M (machine-to-machine) market makes it highly fragmented. These players, which include various platform providers, telecommunications operators, original equipment manufacturers (OEM), and device manufacturers, and chip providers come from diverse industry verticals and intense competition exists between them, notes Transparency Market Research (TMR). Leading players operating in the market include AT&T, Inc., Sierra, Wireless, Inc., KORE Wireless Group, Sprint Corporation, Deutsche Telekom AG, Telit Communications PLC, Vodafone Group PLC, Intel Corporation, Gemalto NV, and Cisco Systems, Inc. Several device vendors and telecom service providers are offering solutions and services for a variety of innovative smart home applications to consolidate their shares. The global smart home M2M market stood at US$5.421 mn in 2016 and is projected to rise at an impressive CAGR of 13.3% from 2017 to 2025. Rising at this pace, the market is estimated to be valued at US$16.316 mn by the end of 2025. The major applications of smart home M2M technology comprise access and security control, home entertainment, energy and climate management, lighting, connected wellness, and smart appliances. Of these, the energy and climate management application segment held the dominant share in 2016. This is attributed mainly to rising internet penetration, the growing use of wireless devices, and rising adoption of cloud-based services. Regionally, the North America led the global market in 2016, with the U.S. accounting for a significant growth. The dominance of this regional market is attributed to a marked concentration of prominent players, substantial adoption of home automation devices, and the rising popularity of M2M technologies. Advantages of Security, Comfort, and Convenience Key Propositions Driving Demand The growing demand for home automation solutions for improving security and convenience is a key factor driving the smart home M2M market. The rising preference of intelligent home security systems over traditional ones is attributed to several advantages they offer to home owners. The integration of M2M with smart home systems allows intelligent control of lighting, temperature, and multi-media. The adoption of home automation systems has offered a variety of advanced functionalities, including smart operations of windows and doors, curtains and blinds, and automatic triggering of alarms in case of emergency. The demand for remote monitoring of homes and residential buildings for enhanced safety and the adoption of smart home technologies for patient care for elderly are key factors stimulating the uptake of smart home M2M solutions. The use of smart home solutions powered by M2M enables the monitoring and management of energy consumption across residential buildings, leading to potential energy efficiency and cost-savings. The growing adoption of a range of smart home appliances such as smart meters, smart vacuum cleaners, HVAC systems, smart kitchen appliances, smart white goods is a prominent factor boosting the market. As a community-building service, TMCnet allows user submitted content which is not always proofed by TMCnet editors. If you feel this entry is of inferior quality or wish to report it for some reason, please forward the URL to "webedit [AT] tmcnet [DOT] com" with your comments. |