Global Smart Homes Market Size, Share, Growth Opportunities

by Oliver Smith Sr. SEO Executive

The GMI Research stimulates that the Smart Homes Market will perceive a rise in demand over the forecast period. This is because of the soaring importance of addressing the security issues, initiation of inventive wireless technologies, and modernizations in the internet of things. 

Introduction of the Smart Homes Market

Smart Home is an advantageous home setup furnished with heating, lighting, and electronic devices to be controlled distantly via any internet-connected place using a smartphone. The devices are interconnected through the internet to allow the user to perform enormous functions such as safety ingression to the home, fixing of temperature, lighting, and home theatre.

Key Players of Market:

·         Google

·         Siemens AG

·         LG Electronics

·         Honeywell International Inc.

·         Johnson Controls International

·         United Technologies Corporation

·         Amazon Inc.

·         Schneider Electric SE

·         Apple

·         Robert Bosch GmbH

·         Samsung Electronics

·         ADT

·         Xiaomi

Smart Homes Market Dynamics

The augmenting endorsement of smart devices among the end-users and the soaring demand for real-time home safety solutions and consumer electronics are elevating the growth of the global smart homes market share. In addition, the growing shift towards the home supervision systems mechanized with the help of smartphones or smart gadgets from remote parts of the world led by the enlarging internet users has propelled the market growth. Besides this, the government initiatives concentrated on spreading consciousness towards the implementation of power-saving and low carbon discharge solutions has persuaded the consumers to choose for these systems, which is further stimulating the smart homes market size.

Smart homes are gaining huge prominence, with approximately 30 million US households adding up smart home technology over the coming years. Further, the rigorous demand for such technologies like energy management solutions and smart lighting systems to raise comfort is complementing the market growth. The smart home helps to reduce energy usage and elevate the safety of the home while offering a superior experience to the end-user, which is paving the way for market growth. Moreover, leading players are increasingly investing in technologically modernized smart home solutions to attract customers to the market. The aggravating execution of smart speakers, home devices, and light restraint systems among consumers have complemented the market growth. However, the inflated installation cost is predicted to hinder market growth.

Software & Services Segment Drivers

Based on Software & Services, the market is bifurcated into Behavioral and Proactive.  Amongst which, Behavioral is contemplated to expand at a faster rate over the coming years. This is because of the accelerating demand for energy management techniques as a result of the increasing incorporation between the internet of things and machine-to-machine solutions. Moreover, as per the smart homes market forecast these solutions offer straight feedback to the end-user by interpreting energy-related data and redirecting the information to the users.

Smart Homes Market Segmentation:

Segmentation by Product

·         Lighting Control

o   Relays

o   Occupancy Sensors

o   Daylight Sensors

o   Timers

o   Dimmers

o   Switches

o   Accessories and Other Products

·         Security and Access Control

o   Video Surveillance

o   Hardware

o   Software

o   Access Control

o   Biometric

o   Non-Biometric

·         HVAC Control

o   Smart Thermostats

o   Sensors

o   Control Valves

o   Heating and Cooling Coils

o   Dampers

o   Actuators Pumps and Fans

o   Smart Vents

·         Entertainment Control and Other Controls

o   Entertainment Control Products

o   Audio, Volume, and Multimedia Room Controls

o   Home Theatre System Controls

o   Touchscreens and Keypads

o   Other Control Products

o   Smart Meters

o   Smart Plugs

o   Smart Hubs

o   Smart Locks

o   Smoke Detectors

·         Smart Speaker

·         Home Healthcare

·         Smart Kitchen

o   Smart Refrigerator

o   Smart Coffee Makers

o   Smart Kettles

o   Smart Dishwashers

o   Smart Ovens

o   Smart Cooktops

o   Smart Cookers

·         Home Appliances

o   Smart Washers

o   Smart Dryers

o   Smart Water Heaters

o   Smart Vacuum Clean

·         Smart Furniture

o   Smart Tables

o   Smart Desks

o   Smart Stools and Benches

o   Smart Sofas

o   Smart Chairs

Segmentation by Software & Services

·         Behavioural

·         Proactive

Segmentation by Region:

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         North America

o   United States of America

o   Canada

·         Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·         RoW

o   UAE

o   Brazil

o   South Africa

o   Saudi Arabia

About GMI Research

The consulting and research company offering different enterprises with perceptions about business and research reports using internal and external databases. The research team of GMI organization gathers all the material information about distinct industries with the concentration on providing précised information about the approaching  opportunities and challenges. The team of experts assists clients in acknowledging the effect of share, size, drivers, growth opportunities, and other dynamics. The organization got listed as the most promising research organization in 2018’s Silicon Indian Magazine.

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About Oliver Smith Professional   Sr. SEO Executive

1,016 connections, 47 recommendations, 2,607 honor points.
Joined APSense since, July 20th, 2020, From Gurgaon, India.

Created on Sep 3rd 2021 07:45. Viewed 298 times.


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