About the Smart Home M2M Market in Western Europe
Western Europe is known to be one of the most technologically advanced economies in the world and an early adopter of new technologies across industries. Smart home technology is expected to witness exponential growth and adoption in the coming years in Western Europe. The market promises huge opportunities for the connected M2M home appliance players across industries. The demand for smart homes is expected to see an upsurge in the forecast period owing to the growing need for security and a large number of baby boomers in Western Europe.
Technavio’s analysts forecast the smart home M2M market in Western Europe to grow at a CAGR of 39.4% 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 Western Europe for 2016-2020. To calculate the market size, Technavio considers the 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.
The market is divided into the following segments based on applications:
Technavio Announces the Publication of its Research Report – Smart Home M2M Market in Western Europe 2016-2020
Technavio recognizes the following companies as the key players in the smart home M2M market in Western Europe: British Gas, Deutsche Telekom, Honeywell, Samsung, and Vodafone.
Other Prominent Vendors in the market are: August, Bosch, BT, Cisco, Control4, Currys, Cyber Homes, EE, Electrolux, GE, Home automation company, Home Smart Home, HomeWizard, LG, Myfox, Nest, Panasonic, SmartThings, TeliaSonera, UK Automation, and Whirlpool.
Commenting on the report, an analyst from Technavio’s team said: “A key trend which is boosting market growth is the adoption of cloud-based technologies for smart home applications. 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. 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.”
According to the report, a key growth driver is the increased installation of smart meters which offer a broad range of interactive and intelligent solutions. They allow the consumers to manage the energy resources effectively by providing the consumption details at every point in time. These meters aid the consumer for better monitoring and control of the energy devices through energy management systems (EMS). All the smart meters in the future will have the capability of acting as the gateway between smart homes and smart grids and can manage the demand and supply of the energy sources in connection with the home energy management (HEM) systems.
Further, the report states that that could hamper market growth is the absence of a standard framework governing the automation process. Companies approach automation in their own way, leading to different variants of the same gadget. This causes confusion for the end-users with regard to making investments in these products. For instance, a Samsung fridge, a Samsung dryer, and a Samsung AC can only communicate with each other and perform the respective operations but not with other manufacturer's products.
British Gas, Deutsche Telekom, Honeywell, Samsung, Vodafone, August, Bosch, BT, Cisco, Control4, Currys, Cyber Homes, EE, Electrolux, GE, Home automation company, Home Smart Home, HomeWizard, LG, Myfox, Nest, Panasonic, SmartThings, TeliaSonera, UK Automation, and Whirlpool.
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