Published on : Jun 27, 2017
Albany, New York, June 27, 2017: The report states that owing to the increased adoption of cloud-based home security solutions by residential users, the smart home M2M market in the UK will expand at a whopping 24% CAGR between 2017 and 2021. Residential users are increasingly benefitting from adopting smart home M2M services, which enables remote services for checking the security as well as self monitoring from a remote location. Cloud-based services are also being used to capture and store the images from surveillance systems and this enables home owners to achieve on-demand scalability and low cost of ownership without paying anything extra.
The report not only identifies and discusses in detail the various factors driving the smart home M2M market in the UK but also identifies the key trends that are expected to shape this industry in the long run. One of the trends witnessed in recent times is the adoption of easy to use Bluetooth technology for faster communication for applications such as identifying a visitor or controlling of light bulbs. Latest trend however, is the demand for low power Wi-Fi. Wi-Fi enables the combining of products such as rechargeable security camera and connected battery. This is expected to fuel the demand for Wi-Fi for operating smart home products and become a trend that will gain popularity during the forecast period in the smart home M2M market in the U.K.
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One of the key factors boosting the growth of this market is the cost effectiveness achieved owing to the enhanced and effective monitoring technology. One of the challenges faced by players operating in the smart home M2M market in the UK is the interoperability issues with IoT technology. However, the integration of pocket drones with features for personal security will emerge as a growth opportunity and a trend that will drive the market in the years to come. By application, the energy management and climate control segment emerged dominant in the market on account of the high awareness of cloud-based services among consumers and the increasing penetration of wireless internet.
The key vendors operating in the smart home M2M market in the UK comprise platform providers, device manufacturers, telecommunications operators, OEMs, and chip providers. The market is extremely fragmented and led by players such as British Gas, Honeywell International, Deutsche Telekom, and Vodafone. Providers of wireless phone and ISPs are experiencing stiff competition with regards to package offerings, due to the growing demands from customers. Some of the other players operating in the market are: Cisco, Samsung, Bosch, BT, Emerson, GE, Control4, Panasonic, EE, Google, LG, and Whirlpool.
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