About the Smart Home M2M Market in the US
A smart home comprises an internal network, home automation, and intelligent control. It is equipped with advanced and automated digital devices, home appliances, and equipment that are interconnected to each other, facilitating sophisticated monitoring and control over the building's functions. It performs three actions: remote status checks, remote information, and remote control to implement any action from a remote location. A smart home enables lighting and temperature control, security, door operations, and other functions. It provides a wide variety of applications such as home automation, home security, home cloud, energy management, and e-health services. It improves
Technavio’s analysts forecast the smart home M2M market in the US to grow at a CAGR of 35.23% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the smart home M2M market in the US for 2016-2020. To calculate the market size, the report considers revenue generated from solutions that have a smartphone application or a web portal for the user interface. These include M2M platforms, solutions, and services in the energy management and climate control systems, home appliances, lighting control systems, home entertainment systems, security and access control systems, and healthcare systems.
Technavio's report, Smart Home M2M Market in the US 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Smart Home M2M Market in the US 2016-2020
Technavio recognizes the following companies as the key players in the smart home M2M market in the US: Alarm.com, AT&T, Comcast, Honeywell International, Samsung, and Verizon Wireless.
Other Prominent Vendors in the market are: August, Bosch, Control4, Dacor, Electrolux, Frigidaire, Frontpoint, G4S, GE, Haier, iControl Networks, Ingersoll-Rand, Korner, LifeShield, LG, Mivatek, Myfox, Nest, Panasonic, SimpliSafe, SmartThings, Sprint, Thermador, Vivint, Whirlpool, Withings, and Xfinity.
Commenting on the report, an analyst from Technavio’s team said: “A trend which is propelling market growth is the rise in energy management initiatives. Energy consumption in various traditional household appliances such as air conditioners, washing machines, and microwave ovens is very high. Therefore, there is a rising demand for energy-efficient devices. Many governments worldwide have taken energy management initiatives to reduce consumption levels because of the growing depletion rate of non-renewable resources and the emission of greenhouse gasses.”
According to the report, a key growth driver is the high availability of home broadband connectivity. Smart home systems are gaining traction with the advent of high-speed Internet services from leading ISPs such as AT&T, Comcast, Sprint, and Verizon. Almost 15% of the households with broadband connectivity use smart home systems. Major companies such as Samsung, LG, and Panasonic are capitalizing on smart home technologies to attain a first-mover advantage in the market.
Further, the report states that one challenge that could dampen market growth is the high cost of M2M security systems.
Alarm.com, AT&T, Comcast, Honeywell International, Samsung, Verizon Wireless, August, Bosch, Control4, Dacor, Electrolux, Frigidaire, Frontpoint, G4S, GE, Haier, iControl Networks, Ingersoll-Rand, Korner, LifeShield, LG, Mivatek, Myfox, Nest, Panasonic, SimpliSafe, SmartThings, Sprint, Thermador, Vivint, Whirlpool, Withings, Xfinity.