The report also evaluates the patterns in the main market, besides the usual factors and market shares by different parts. The Smart Home Market report also estimates the effect of different industry characteristics available in market sections and landscapes. The evaluation also recognizes the innovative options and requesting conditions of the global market. It then examines aggressive enhancements like new product launches, positioning, expansions, and investment in the market.
Smart Home Market with Analysis by Product (Lighting Control, Security & Access Control, HVAC Control, Smart Speaker, Smart Kitchen, Smart Furniture), Software & Services, Sales Channel, and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Smart Home Market Overview
The Smart home market size is expected to reach USD 84.5 billion in 2021, at a CAGR of 11.4% during the forecast period 2021-2028.
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Smart home devices are suitable for a home setup where devices can be automatically controlled distantly from any Internet-connected place in the world, using a mobile or other networked device. A smart home has its devices connected through the Internet, and the customer can regulate functions, such as security access to the house, temperature, lighting, and home theatre.
The increasing number of internet users and growing adoption of smart devices along with the growing need for energy-saving and low-carbon emission-oriented solutions are some of the factors that have supported long-term expansion for the Smart Home Market.
The emergence of the global COVID-19 pandemic has affected the smart home market. The COVID-19 pandemic's impact on the smart home market has been both positive as well as negative. The demand for smart home products such as smart speakers and home healthcare has increased due to the COVID-19 pandemic, as the majority of the population is working from home.
Regional Analysis of The Smart Home Market
The market in APAC is expected to grow at the highest CAGR during the forecast period. The APAC is home to major smart home manufacturers, namely Samsung Electronics (South Korea), Panasonic (Japan), Haier Smart Home (China), LG Electronics (South Korea), and Sony (Japan) which always focus on technological innovations.
Smart Home Market Competitive Landscape
· Honeywell
· Siemens
· Johnson Controls
· Schneider Electric
· ASSA ABLOY
· Amazon
· Apple
· Samsung Electronics
· Sony
· Ooma
· Delta Controls
· Control4
· Axis Communications
· Comcast
· Smarthome
· Crestron Electronics
· Simplisafe
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Recent Developments in Smart Home Market
· In May 2021, Siemens (Germany) collaborated with Telefónica Tech (Spain) to offer comprehensive solutions which protect buildings from fires, and monitor entry points and potential intrusions with closed-circuit television (CCTV), including the possibility of video analysis.
· In November 2020, Schneider Electric (France) partnered with Planon (Netherlands) in order to extend Schneider’s unique digital building lifecycle software offering, increase its market penetration and enhance the value.
Reasons to Acquire Smart Home Market
· Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
· Gain authentic and granular data access for Smart Home Market so as to understand the trends and the factors involved behind changing market situations
· Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
· In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
Table of Contents
Smart Home Market is segmented into product, software & services, sales channel and region.
On the basis of Product
· Lightening control
· Security and access control
· Access control
· HVAC control
· Entertainment and other controls
· Smart speaker
· Home healthcare
· Smart kitchen
· Home appliances
· Smart furniture
On the basis of Software & Services
· Behavioural
· Proactive
On the basis of Sales Channel
· Direct
· Indirect
On the basis of Region
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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