PUBLISHER: The Business Research Company | PRODUCT CODE: 1428075
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428075
Smart home Machine-to-Machine (M2M) pertains to the automated exchange of data, instructions, and information among diverse smart devices and appliances interconnected within a smart home ecosystem. This communication occurs without direct human involvement, facilitating seamless integration, heightened efficiency, convenience, and personalized experiences for users within smart homes.
The primary types of smart home M2M technologies encompass Wi-Fi, Bluetooth, and cellular connectivity. Wi-Fi, a wireless networking technology, enables devices to connect to the internet and communicate among themselves using radio waves within a specific range. In the context of smart home M2M systems, Wi-Fi facilitates wireless connectivity among smart devices, enabling data transmission, remote control, and smooth integration within the smart home network. This functionality enhances convenience and automation capabilities. These technologies encompass both wireless and wired applications across various domains such as access and security control, energy and climate management, home entertainment, lighting, smart appliances, and other functionalities within the smart home environment.
The smart home M2M market research report is one of a series of new reports from The Business Research Company that provides smart home M2M market statistics, including smart home M2M industry global market size, regional shares, competitors with a smart home M2M market share, detailed smart home M2M market segments, market trends and opportunities, and any further data you may need to thrive in the smart home M2M industry. This smart home M2M market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The smart home m2m market size has grown rapidly in recent years. It will grow from $12 billion in 2023 to $13.62 billion in 2024 at a compound annual growth rate (CAGR) of 13.5%. The growth observed during the historic period can be attributed to several factors, including the increased awareness among consumers, growing needs for security and surveillance solutions, emphasis on energy efficiency leading to cost savings, integration capabilities with smart home ecosystems, and the rising consumer demand for convenience in smart home technologies.
The smart home m2m market size is expected to see rapid growth in the next few years. It will grow to $22.73 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. The anticipated growth in the forecast period is linked to various factors, notably the integration of AI and machine learning technologies, the emergence of health and wellness applications, the expansion of connectivity standards, the enhancement of home automation experiences, and the integration of smart home technologies with broader smart city initiatives. Key trends expected in this period encompass the development of home automation hubs, the advancement of home health monitoring systems, increased integration of AI and machine learning technologies, adherence to interoperability standards, and the growth of subscription-based services within the smart home industry.
The surge in popularity of smart appliances is anticipated to drive the growth of the smart home M2M market in the coming years. Smart appliances, equipped with wireless connectivity and sensors, enable remote control or autonomous operation through human input, scheduling, and artificial intelligence and machine learning (AI/ML). Leveraging machine-to-machine (M2M) communication, these smart appliances seamlessly integrate into the smart home ecosystem, facilitating coordination of tasks for enhanced efficiency. They enable communication among devices, enabling centralized control and coordination of multiple devices that contribute to day-to-day activities with minimal human intervention. As reported by DATACONOMY in September 2022, there has been a 10% increase globally in the average number of connected devices and smart home appliances per home, rising from 15.5 in 2021 to 17.1 in 2022. This upward trend in smart appliance adoption is a significant driver for the growth of the smart home M2M market.
The expansion of high-speed internet connectivity, particularly with the advent of 5G networks, is poised to propel the smart home M2M market. High-speed internet connectivity, including 5G networks, enhances the reliability and performance of M2M communication, enabling real-time communication between smart home devices. In April 2023, 5G Americas reported a 76% increase in 5G wireless connections, reaching 1.05 billion from 2021 to 2022. Projections indicate further growth to 1.9 billion by the end of 2023 and 5.9 billion by 2027, with North America expected to have 215 million 5G connections by the end of 2023. The expansion of high-speed internet connectivity, especially with the widespread adoption of 5G, is a significant driver for the smart home M2M market.
Technological advancement is a prominent trend shaping the smart home M2M market, with major companies prioritizing the integration of wireless technology and artificial intelligence. This focus aims to strengthen and sustain their positions in the market. For example, in June 2021, D-Link, a Taiwan-based networking equipment corporation, introduced a smart home ecosystem designed to support remote workforces. This ecosystem integrates 5G, AI, and Wi-Fi 6 technologies, transforming homes into intelligent, automated office extensions. D-Link's innovative approach provides the necessary infrastructure to maintain seamless connectivity for both work and leisure. The incorporation of modern 5G connectivity into homes showcases the ongoing technological advancements in the smart home M2M market.
Leading companies in the smart home M2M market are actively pursuing the development of technologically advanced products, exemplified by the creation of wireless indoor security cameras. These innovations aim to enrich their product portfolios and address the rising demand for sophisticated and connected home security solutions. A wireless indoor security camera is a surveillance device equipped with wireless technology, enabling the transmission of video and audio signals without the need for physical cables. In June 2023, SimpliSafe, a prominent US-based manufacturer of smart home security systems, introduced the Smart Alarm Wireless Indoor Security Camera. This cutting-edge product features industry-first 24/7 live guard protection and professional monitoring capabilities. The Smart Alarm Indoor Camera empowers monitoring agents to engage in real-time communication with potential intruders, offering a unique and proactive approach to crime prevention. The camera incorporates an AI-powered motion sensor, activating a built-in siren upon detecting unusual motion, serving as an additional deterrent. Video verification and 24/7 live guard protection features allow monitoring agents to gather evidence and assess potential threats. The advanced AI-powered motion detection technology ensures accurate differentiation between pets and intruders. Leveraging two-way agent audio, the live guard protection feature provides customers with a means to verify and cancel false alarms before dispatching emergency responders, enhancing the overall security offering and customer experience.
In January 2022, Zigbang, a South Korea-based proptech startup, made a strategic move by acquiring Samsung SDS' home IoT business for an undisclosed amount. This acquisition strengthens Samsung SDS' market share in the smart home IoT business, consolidating its position in the market. Samsung, a renowned South Korea-based electronics manufacturer with a focus on smart home M2M, continues to play a significant role in advancing technology and innovation within the smart home ecosystem.
Major companies operating in the smart home machine-to-machine (m2m) market report are China Mobile Ltd., AT&T Inc., Deutsche Telekom AG, Robert Bosch GmbH, Siemens AG, Panasonic Corporation, Intel Corporation, Cisco Systems Inc., LG Electronics Inc., Qualcomm Technologies Inc.,ABB Ltd., Schneider Electric SA, Legrand SA, Ingersoll-Rand PLC, Crestron Electronics Inc., PTC Inc., Vivint Smart Home Inc, Lutron Electronics Co. Inc., Control4 Corporation, Zoho Corporation, Sierra Wireless Inc., KORE Wireless Group, Telit Communications PLC, Rachio Inc., ThroughTek Co. Ltd.
North America was the largest region in the smart home M2M market in 2023. The regions covered in the smart home machine-to-machine (m2m) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the smart home machine-to-machine (m2m) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The smart home M2M market consists of revenues earned by entities by providing various technologies such as sensor networks, radio frequency identification (RFID), mobile Internet, internet protocol version 4 (IPv4), internet protocol version 6 (IPv6), and low power wide area network (LPWAN). The market value includes the value of related goods sold by the service provider or included within the service offering. The smart home M2M market also includes sales of thermostats, light bulbs, security cameras, intrusion detection, and smoke/gas detectors. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart home Machine-to-Machine (M2M) Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart home machine-to-machine (m2m) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart home machine-to-machine (m2m) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart home machine-to-machine (m2m) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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