Overview and Scope
Smart home Machine-to-Machine (M2M) refers to the automated communication for exchanging data, instructions, and information between various smart devices and appliances within a smart home ecosystem and entails the interchange of data, commands, and information between these devices without human intervention. It allows for seamless integration, increased efficiency, convenience, and individualized experiences for smart home users.
Sizing and Forecast
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 in the historic period can be attributed to growth in consumer awareness, security and surveillance needs, energy efficiency and cost savings, integration with smart home ecosystems, consumer demand for convenience.
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 growth in the forecast period can be attributed to ai and machine learning integration, health and wellness applications, expanded connectivity standards, enhanced home automation experiences, smart city integration. Major trends in the forecast period include home automation hubs, advanced home health monitoring, ai and machine learning integration, interoperability standards, subscription-based services.
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Segmentation & Regional Insights
The smart home machine-to-machine (m2m) market covered in this report is segmented –
1) By Type: Wi-Fi, Bluetooth, Cellular Connectivity Technologies
2) By Technology: Wireless, Wired
3) By Application: Access and Security Control, Energy and Climate Management, Home Entertainment, Lighting, Smart Appliances, Other Applications
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
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Major Driver Impacting Market Growth
The rise in popularity of smart appliances is expected to propel the growth of the smart home M2M market going forward. Smart appliances have wireless connectivity and sensors that allow remote control or autonomous operation via human input, scheduling, or artificial intelligence and machine learning (AI/ML). Smart appliances utilize machine-to-machine communication in the smart home to offer users seamless integration and automation of data to coordinate tasks to enhance efficiency and facilitate communication among the devices that enable centralized control and coordination of multiple devices that aid in day-to-day activities with human intervention. For instance, in September 2022, according to DATACONOMY, a Germany-based press organization specializing in data-driven technology, globally, there is a 10% increase in the average number of connected devices and smart home appliances per home, from 15.5 in 2021 to 17.1 in 2022. Therefore, the rise in popularity of smart appliances drives the growth of the smart home M2M market.
Key Industry Players
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.
The smart home machine-to-machine (m2m) market report table of contents includes:
1. Executive Summary
2. Smart home Machine-to-Machine (M2M) Market Characteristics
3. Smart home Machine-to-Machine (M2M) Market Trends And Strategies
4. Smart home Machine-to-Machine (M2M) Market – Macro Economic Scenario
5. Global Smart home Machine-to-Machine (M2M) Market Size and Growth
…..
32. Global Smart home Machine-to-Machine (M2M) Market Competitive Benchmarking
33. Global Smart home Machine-to-Machine (M2M) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Smart home Machine-to-Machine (M2M) Market
35. Smart home Machine-to-Machine (M2M) Market Future Outlook and Potential Analysis
36. Appendix
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