Albany, NY -- (SBWIRE) -- 06/05/2018 -- Titled "Smart Home M2M Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025," the report says that market growth could also be supported by rapid sales of connected consumer electronics such as lighting systems and televisions, kitchen equipment, and other smart appliances. The market is anticipated to post a CAGR of 13.3% for the forecast tenure 2017-2025. It could be valued at a US$16.3 mn by the end of the forecast period.
Compatibility with legacy systems and security breaches are foreseen to play as hindrances in the growth journey of the world smart home M2M market. Nonetheless, players could find opportunities rising with constant improvement in technology. Smart home security systems are expected to attract a larger demand compared to traditional systems owing to the popularity of their advanced features including automatic opening of windows and doors after smoke alarm is sounded, remote monitoring of residences, and text messages depending on motion detection notifications.
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With respect to application, the world smart home M2M market has been classified into five segments, i.e. smart appliances and connected wellness, lighting, home entertainment, energy and climate management, and access and security control. Among these segments, energy and climate management was observed to secure 1/4th of total market share in 2016. Even in the current time, this segment holds a commanding position of the global market. Its growth could be a result of an increasing count of consumers becoming aware about cloud services and rising penetration of wireless internet. In terms of technology, the market has seen a classification into wired, Zigbee and Bluetooth, cellular, Wi-Fi, and wireless.
Mainly contributed by the U.S., North America is prognosticated to obtain handsome growth in the international smart home M2M market, considering its strong share gained in 2016. Easy availability of home automation professionals, concentration of several players in the regional market, large availability of home automation products, and awareness about home automation benefits could help North America to take the lead in the market. On the basis revenue growth, the region could be followed by Europe for the next few years. Quick adoption of home automation and presence of a significant count of players in the region are forecasted to prove extremely advantageous for the rise of the Europe market.
Japan, India, and China, on the other hand, could assist Asia Pacific in making its presence known in the international smart home M2M market. Growth in the semiconductor and electronics industry is envisaged to provide a good boost to the region. The global market includes top companies such as Gemalto NV, AT&T, Inc., and Cisco Systems, Inc.
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