Global Smart Home Machine To Machine M2M Market Growth 2024, Forecast To 2033
8 Mar, 2024
The smart home M2M market has seen substantial growth, rising from $12 billion in 2023 to $13.62 billion in 2024, demonstrating a CAGR of 13.5%. This growth is attributed to increased consumer awareness, security needs, energy efficiency, integration with smart home ecosystems, and demand for convenience. Looking ahead, the market is expected to continue its rapid expansion, reaching $22.73 billion in 2028, with a CAGR of 13.7%. Factors driving this growth include integration of AI and machine learning, health and wellness applications, expanded connectivity standards, enhanced home automation experiences, and integration with smart city initiatives. Major trends in the forecast period include home automation hubs, advanced health monitoring, AI integration, interoperability standards, and subscription-based services.
Global Smart home Machine to Machine M2M Market Key Driver
The smart home M2M market is experiencing significant growth due to the increasing popularity of smart appliances. These appliances, equipped with wireless connectivity and sensors, enhance household automation and efficiency. Data from DATACONOMY indicates a notable rise in the average number of connected devices per home, reflecting the market's expansion driven by smart appliance adoption.
Get A Free Sample Of The Global Smart home Machine to Machine M2M Market ReportGlobal Smart home Machine to Machine M2M Market Segments
The smart home machine-to-machine (m2m) market covered in this report is segmented –
1) Type:Wi-Fi, Bluetooth, Cellular Connectivity Technologies
2) Technology:Wireless, Wired
3) Application:Access and Security Control, Energy and Climate Management, Home Entertainment, Lighting, Smart Appliances, Other Applications
By Geography: 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.
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
Major Smart home Machine to Machine M2M Industry Players
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.
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Smart home Machine to Machine M2M Market Overview
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.