The IoT in Utility Monitoring segment is growing at a 59.8% CAGR, whereas the Home Energy Conservation segment is growing at a 49.4% CAGR in the forecast period of 2015-2020.
Albany, NewYork (PRWEB) January 30, 2015
Connected Home and IoT: Market Opportunities and Forecasts 2015 – 2020 is the result of a widespread global study on the most hyped and promising trends in the upcoming technology popularly known as ‘The Internet of Things (IoT).’ This report addresses the adoption of smart connected homes globally and also probes homeowners about some of the most critical issues pertaining to the Internet of Things (IoT).
In the burgeoning world of IoT and the connected home market, home security is all set to become the single largest sector for telcos and internet service providers. Connected homes are an added part of home automation that works in conjunction with the Internet of Things (IoT) within a smart home ecosystem. A connected home is a zone where devices present inside a home are connected to each other via a short-range wireless device, mesh network, and/or via the Internet. Typically operated using remote access devices such as tablets, mobile computing units, or any smartphone, the boom of the connected home and IoT market is likely to become a leading factor within the technology industry in the next five years.
The connected home and IoT market possesses significant growth potential due to leading industry players such as Netflix, Google, and several others who have marked their presence and foundation through similar causes for other ecosystem competitors in this industry.
According to the report, market opportunity will increase with a 27.7% CAGR through 2020. For the IoT in connected market, the report covers the forecasts to 2020 and also identifies various leading solutions and applications in the global market. The report addresses application areas of the connected home market as well as merger and acquisition activities taking place within the IoT in connected homes market.
The report covers information on the cloud software platforms, wherein the market also witnesses an emerging business opportunity for Cloud Service Providers and Big Data Analytics within the global market. The management of unstructured data (Big Data) and the direct attribution to IoT in connected home market is projected to reach an estimated value of $7 billion by the end of 2020.
The report further elaborates on the relationship between connected homes and IoT, and helps identity the key business strategies for IoT in connected homes. The study covers the various strategies about products and solutions and their use, benefits, and requirements for IoT in the connected homes market.
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Furthermore, the report also observes some of the fastest growing market segments through 2020. The IoT in Utility Monitoring segment is growing at a 59.8% CAGR, whereas the Home Energy Conservation segment is growing at a 49.4% CAGR in the forecast period of 2015-2020.
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