Machine to Machine (M2M) and Connected Devices
Outlook of the smart home M2M market
Technavio’s market research analyst predicts that the global smart home M2M market will grow at an impressive CAGR of nearly 35% during the forecast period. An important factor spurring the growth prospects for this market is the advent of high-speed 4G LTE wireless networks, which support high-bandwidth M2M applications. Most of the operators have adopted multiple strategies like low bandwidth pricing, subsidized pricing of modems and gateways, easily deployable cross-vertical industry solutions, and bundled cloud-based platform solutions, which is driving the adoption of 4G for IoT communications. Smart home systems are gaining traction with the advent of high-speed internet services as most appliances function effectively with the help of wireless connectivity. Additionally, the high penetration of Wi-Fi connectivity in residences is fueling the growth prospects for this market as numerous appliances can be added to the home network without the use of external controllers.
The advent of enhanced security and safety features with effective monitoring technology is one of the major trends impelling the growth prospects for this market. Smart homes incorporate several automatic systems, such as motion and window sensors, thermostats, light controls, and door lock controls that receive remote control signals from the users. These signals are sent over GSM technology to ensure a reliable and fast communication between the user and the home security systems. For instance, AT&T’s Digital Life uses the 3G wireless network to address critical situations by directly contacting the fire, medical, or any other emergency authorities.
Competitive landscape and key vendors
The global smart home M2M market is characterized by the presence of
Global market outlook for digital maps
The global market for digital maps is envisaged to witness staggering growth and will post an impressive CAGR of almost 14% by 2020. The recent increase in the usage of 3D platforms will aid in this market’s strong growth over the forecast period. It has been observed by Technavio’s market research analyst that the use of geospatial information has increased considerably over the last couple of years. Companies such as Atos use geographic information system (GIS) platforms with location-based services (LBS) to offer services to businesses involved in supply chain management, data centers, infrastructure development, urban planning, risk and emergency management, navigation, and healthcare. Technologies based on augmented reality utilize GIS information and 3D platforms to provide virtual information about users and their surroundings. This information helps enterprises understand the needs of users and send targeted advertisements to them. In addition, the use of logistics and supply chain management 3D platforms and management software increases efficiency and minimizes costs associated with operational processes.
In terms of geography, the Americas was the largest market for digital maps during 2015 and is anticipated to generate revenues of almost USD 2 billion by 2020. The augmented demand for location determination, enhanced transportation or loGIStics planning, sales and marketing optimization, risk analysis, and fraud detection will spur the utilization of digital maps in this region. Additionally, in the Americas, the formation of strategic
Overview of the global smart wearable entertainment devices and services market
Technavio’s market research analyst predicts the global smart wearable entertainment devices and services market to grow at an impressive CAGR of more than 22% by 2020. Wearable devices allow consumers to play virtual reality games, watch augmented reality videos, and listen to music. People can also use these devices for measuring the distance traveled, calorie intake, and heart rate. These devices also help in the prevention and control of many health-related issues such as obesity, heart disorders, and respiratory diseases. The popularity of entertainment and gaming devices that provide a real-time virtual experience has increased over the years. These devices enable virtual 3D movies and HD gaming experience. The adoption rate of these devices is high among the millennials within the age group of 18-24 years. Devices such as Oculus Rift, iTV Goggles, and Sony's head-mounted display use virtual reality technology to provide real-time music, video streaming, and video gaming experience to users.
The market is witnessing the adoption of gesture recognition technology in the wearable devices. This technique offers an effective man-to-machine interface that helps interpret human gestures. The technology provides improved virtual gaming and audio and video streaming experiences to the users. The application of gesture recognition aids the use of these entertainment processes without manual operations. Devices such as Ring and Myo function on gesture recognition technology provide real-time gaming and entertainment experiences to the users.
Competitive landscape and key vendors
The global smart wearable entertainment devices and services
Global outlook for the smart wearable healthcare devices and services market
Technavio’s market research analysts have predicted that the global smart wearable healthcare devices and services market will grow steadily and post a CAGR of almost 19% by 2020. This industry research report identifies the popularity of wearable devices in healthcare to be one of the major factors that will have a positive impact on the growth of this market in the coming years. Smart wearable devices help consumers to track and monitor health-related issues, monitor body temperature, offers remote cardiac monitoring, and also records sleep statistics. Since these devices help users avoid several health issues such as obesity and heart congestion, there has been an increased adoption of wearable healthcare devices in the developed regions such as North America and Western Europe. This will lead to the decline in the cost of these products, which in turn, will result in an exponential increase in the adoption of healthcare wearables.
Big data analytics enables easy access to patient information and enhances the decision-making process and is already being used in the healthcare sector to understand patient insights. Big data analytics will be used to gather activities and health conditions of patients from health monitoring devices, and this can be transferred to the hand-held devices such as tablet computers and smartphones with the help of data analytics software. This will enable physicians to monitor the daily activities and health conditions of patients from any remote location. The estimated increase in the
Overview of the smart wearable fitness and sports devices and services market
By 2020, the global smart wearable fitness and sports devices and services market will grow at a CAGR of over 25% and 38%, respectively. One of the primary drivers propelling the growth prospects for this market is the growing popularity of fitness wearables among consumers. Rapid innovations in technology have increased the demand for fitness devices with modern features, which help avoid obesity and heart congestion. These devices act as fitness trackers, allowing consumers to keep a check on their regular fitness regime. In developed regions like North America and Western Europe, the demand for smart watches, fitness bands, gear fit, and smart glasses have increased over the years due to the low cost of these products. The consumers synchronize these fitness devices with their smartphones and tablets to monitor sleep patterns and receive calendar alerts about their exercise and fitness activities.
A significant trend spurring the growth prospects for this market is the increasing use of wearable devices in sports analytics to improve the performance of the sportsperson. The fitness and sports wearables comprise tracking devices, sensors, and software application. The technology and software used in smart wearable devices help in making critical decisions in games like football, tennis, and basketball. These smart activity trackers monitor speed, distance covered, and breathing and heart rates of the players. In addition, these devices can be used to track the fitness and performance activities of on-field players. For instance, miCoach by Adidas helps in tracking the kick speed, spin, and flight path in football. It also offers real-time statistics, such as speed, heart rate, and acceleration of each and every player.
Outlook of the smart parking market in Western Europe
Extensive research carried out by the analysts at Technavio has shown that the smart parking market in Western Europe will witness impressive growth at a CAGR of close to 14% over the forecast period. Smart parking aids in reducing traffic congestions considerably in highly populated areas. Smart parking systems use sensors deployed in the center of the designated parking area, and the data gathered from these sensors provide useful information regarding the number of standby vehicles and the number of vehicles in the queue to acquire parking space. The data also helps analyze and process the traffic flow. Moreover, smart parking has the tools to improve workforce management and generate revenue by enabling real-time monitoring and control of the available parking space. The two-way M2M communication between smart parking sensors and connected cars helps reduce parking-related issues, which will impel the growth prospects for the smart parking market in Western Europe during the predicted period.
The majority of parking facility providers use dynamic pricing to manage the demand and supply of available parking spaces. The parking providers give a choice to the drivers to either pay more and walk less or pay less and walk an extra block. The sensors present in the parking lot track the availability of parking spaces and transmit the information directly to the drivers on their smartphones with price details. Moreover, the automatic license plate recognition technology uses