The research study covers the present scenario and growth prospects of the global smart home M2M market for 2017-2021. 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.
The proliferation of smartphones and tablets is producing more growth opportunities in this market. In addition, telecom operators globally are enhancing their network management capabilities to provide strong and stable connectivity solutions to support the specific requirements of smart homes. They maintain a secure and regular billing process to build strong customer relationships.
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Technavio’s ICT analysts highlight the following three factors that are contributing to the growth of the global smart home M2M market:
Cost savings due to the adoption of energy conservation systems
Smart home infrastructure provides users the most convenient way of living. It also helps consumers save money on electricity. Smart technology provides different means of monitoring and controlling the use of resources depending upon the requirement for energy consumption. Electronic devices like microwaves continue to draw power when they are turned off but still plugged in; this is called Phantom energy. The use of smart devices eliminates Phantom energy or idle current.
Abhishek Sharma, a lead M2M and connected devices research analyst at Technavio, says, “A low-cost energy-efficient smart home was built in London, which transfers energy to the national electricity grid rather than consuming it as a prototype for a zero-carbon housing set. This is an initiative taken by the UK government to lower the demand for energy substantially.”
Increased installation of smart meters
Smart meters offer an extensive range of interactive and intelligent solutions. They allow consumers to effectively manage energy resources by providing consumption details at every point in time. They send the relevant details of home energy use to the energy supplier so that the electricity bill can be sent without having to physically check the reading on the home meter.
“In APAC, government organizations are taking major initiatives to install smart meters. In 2015, 7.5 million smart meters were installed in Japan. In 2015, smart meters were installed in more than 50% of South Korean households. Smart meters offer a range of interactive and intelligent solutions,” adds Abhishek.
Enhanced global broadband connectivity
Internet connectivity is an important access channel to support and enable communications across large-scale IoT devices. The advent of high-speed 4G LTE wireless networks has helped support high-bandwidth M2M applications. The adoption of 4G for IoT communications is being driven by the multiple strategies used by operators, such as differentiated bandwidth pricing, subsidized pricing of connected wireless modules (including modems and gateways), easily deployable cross-vertical industry solutions, and bundled cloud-based platform solutions.
With the increase in availability of 4G LTE, the smart city ecosystem is expected to evolve at a much faster rate during the forecast period. 4G LTE provides higher bandwidth as well as faster data connections. In 2015, 430 commercial LTE networks and 100 long-term evolution-advanced (LTE-A) networks were deployed worldwide.
- British Gas
- China Mobile
- Honeywell International
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