LONDON--(BUSINESS WIRE)--According to research firm TechNavio, the Connected M2M Home Appliance Market in the US is expected to witness significant growth, with a CAGR of 49.98 percent from 2014-2018.
Lead researchers are pinpointing a surge in cloud-managed smart homes as a major driver behind this growth.
“Cloud-enabled smart homes can go a long way towards effectively exploiting the smart home concept and ensuring smooth management of multiple devices,” says Faisal Ghaus, Vice President of TechNavio.
“The cloud aims to reduce the complexity of managing software and ensure interoperability of devices by blending the services intelligence in the network cloud. It will make the entire connected home ecosystem much more accessible and will increase the reach and variety of services being offered.”
Cloud-managed smart homes will create an efficient and flexible approach to connected home services, facilitating better customer retention by storing consumer data in the service cloud. The US market has already begun to witness participation from most major players like Samsung, Google and Apple, and further influx of key vendors will propel market growth in the US over the projected period.
The latest report by TechNavio offers a complete list of drivers and trends that are expected to impact the market from 2014-2018. TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
TechNavio is a leading global technology research and advisory company.
Founded in 2003, TechNavio has 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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