LONDON--(BUSINESS WIRE)--Technavio’s latest smart home M2M market in APAC report highlights five key emerging trends predicted to impact market growth through 2020. Technavio defines an emerging trend as something that has potential for significant impact on the market and contributes to its growth or decline.
“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.
“In APAC, government organizations are taking major initiatives to install smart meters. In 2015, Japan witnessed close to 7.5 million smart meter installations. The demand for smart meters have also witnessed a similar increase in South Korea. These developments are key to the growth of the smart home market in the APAC,” added Rakesh.
Technavio’s market research study identifies the following five emerging trends expected to propel the smart home M2M market in APAC:
- Adoption of cloud-based technologies
- Growing use of wearable devices
- Partnerships among vendors
- Emergence of IoT
- Increase in development of smart cities
Adoption of cloud-based technologies
Residential users are increasingly adopting cloud-based security systems that provide self-monitoring and remote service solutions. These systems offer a user-friendly interface that help homeowners arm, disarm, and check the security status of their homes from a remote location. A cloud-based service is used to store images captured by surveillance systems. This service ensures low cost of ownership and on-demand scalability without any additional cost for homeowners. Cloud-based services reduce the complexity of software issues in systems and enable interoperability. The smart home cloud center platform is grouped into three divisions namely cloud service market, carrier market, and smart IoT gateway. It provides features such as high-speed gaming, mobile app downloads, content transfer across regions, and multiple wireless user interfaces.
Growing use of wearable devices
Wearable devices are being widely used in hospitals and connected homes to provide better healthcare facilities to people. These devices work on M2M technology as data exchange takes place between two devices. A wearable device, for example, can capture the movements of a patient with mental illness, and the data can be directly sent to a physician's tablet or any other handheld device. Wearable devices such as activity trackers, smartwatches, glucose monitors, heart rate monitors, health monitors, and pedometers are used to track activities of doctors, staff, and patients.
With advances in technology, wearable devices like Nymi can authenticate identities of users based on their heartbeat patterns and create personalized preferences and profiles for users. These devices enable smart homes to adjust room temperature, lighting, and music as per the set preferences automatically.
Partnerships among vendors
In APAC, a large number of vendors are forging partnerships to develop smart home ecosystems. Zeewave and China Unicom launched the first smart home (automation) IoT service in China, which is delivered to all the subscribers of China Unicom via the Smart Home Gateway service of Zeewave.
In addition, Intel partnered with China's Smart Energy Technology Innovation Strategy Union and developed a smart energy lab in 2015. The objective of this partnership is to promote smart energy management for the optimum usage of energy.
Vendors are also investing millions of dollars in smart home start-ups. For instance, Singapore-based cyber surveillance start-up Foxconn and SingTel have invested USD 3.2 million on KAI Square. These developments are anticipated to usher an immense growth phase for the market.
Emergence of IoT
People are increasingly using mobile devices such as smartphones and tablets for remote monitoring. M2M, an integral part of the IoT, enables remote monitoring and ensures proper communication between wireless and wired devices. Safe and secure data transfer between devices requires a number of protocols that require regular monitoring by Wi-Fi protected access (WPA) systems. In addition, increased usage of wireless networks from remote locations has triggered the need for network management station (NMS) to avoid instances of cyber-attacks.
The Chinese Government has planned to invest heavily in the IoT market as per its Twelfth Five-Year Plan. It is likely that the government will invest more than USD 600 billion in IoT projects by 2020. High investment in IoT will fuel the demand for M2M services over the next four years.
Increase in development of smart cities
Government organizations across regions such as China, Japan, Singapore, and India have pledged to develop advanced smart city. The government in India has allotted close to USD 1.15 billion for the development of smart cities. The five-year plans implemented by the government of China emphasizes on urbanization and the development of smart cities, which includes identifying an urban area, and facilitating economic growth and improved quality of life by using technologies such as M2M.
Databases and network systems in a smart city are connected to cameras, sensors, and control systems in which M2M technology is meant to be utilized for allocating services, managing traffic and inventory, and handling and transferring information. M2M is also slated to play a key role in managing energy, water, transport, noise, pollution, and water disposal in a smart city.
Browse related reports:
- Smart Home M2M Market in the UK: Market Research Report 2015-2019
- Smart Home M2M Market in Western Europe 2015-2019
- Smart Home M2M Market in the US 2015-2019
- Connected Home Appliance Market in the US 2015-2019
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