Report: Top five smart home M2M trends in APAC
Here are five smart home M2M trends that will impact growth in the smart home M2M market in APAC through 2020.
The smart home M2M market in the Asia Pacific region (APAC) is set for a fast-paced growth. Analysts firm Technavio forecasts that this market will grow at a CAGR of around 41 percent between 2016 and 2020. In comparison, the smart home M2M market in Western Europe is forecast to grow at a CAGR of 47.11 percent over the period 2015-2019. During the same period, the US smart home M2M market is forecast to grow at a CAGR of 38.02 percent. “The demand for enhanced security and safety in homes has been increasing rapidly. Smart homes enable interactive security systems that increase the level of protection expected by consumers. Smart homes incorporate automatic systems, which include motion and window sensors, thermostats, lights, and door lock controls,” said Rakesh Panda, one of Technavio’s lead industry analyst for M2M connected devices.
The analyst firm has identified five trends that will impact the smart home M2M market in APAC through 2020.
- Adoption of cloud-based technologies
An area which has seen significant growth is the increasing adoption by residential users of cloud-based security systems. The benefits of such systems include cost of ownership, reduced complexity and greater interoperability.
- Growing use of wearable devices
Use cases include the use of wearables in hospitals to monitor patients and doctors and in connected homes.
- Partnerships among vendors
Vendors are increasingly seeking partnerships to develop smart home ecosystems, they are also investing heavily in smart home start-ups. Examples of collaborations include China Unicom’s partnership with Zeewave on the first smart home automation IoT service in China.
- Emergence of IoT
There has been an increase in people using mobile devices for remote monitoring. Furthermore, the Chinese government itself has plans to invest more than USD 600 billion in IoT projects by 2020.
- Increase in development of smart cities
Governments’ smart city initiatives abound in APAC, including India’s plan to invest some USD 1.15 billion in such projects.
We can expect these trends to also affect growth in the US and Western European smart home M2M markets.
IIoT News Recap: the top ten deterrents to IIoT implementation, EMC bets on Indian smart city market and Slovakia gets third IoT network
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