Emergen Research Logo
Market Size – USD 75.43 Billion in 2020, Market Growth – at a CAGR of 11.9%, Market Trends – Rapid traction of smart city initiatives
— Emergen Research
VANCOUVER, BC, CANADA, May 11, 2023 /EINPresswire.com/ — The global smart home market size is expected to reach USD 184.10 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to rising need for improved energy efficiency in homes to minimize energy bills and carbon emissions. Consumers are increasingly adopting smart home systems as these allow monitoring and control of energy usage more efficiently. Home automation systems allow homeowners to control their appliances with the help of smartphone apps and eliminate power consumption of unattended appliances and devices when not in use. The ability of home automation system to monitor electricity consumption helps in minimizing energy bills through more efficient usage of appliances. Precise control over heating and cooling of a home with a programmable smart thermostat is achieved through utilization of smart home technology. In addition, a home automation system helps in preventing hazards such as fires as it gives full control over the lighting and heating systems. Increasing adoption of smart appliances, which include smart air conditioners, smart refrigerators, and smart washing machines helps in attaining better energy efficiency. Rising need to minimize negative environmental effects and increase utilization of resources is increasing adoption of smart buildings. Increasing government initiatives for smart city projects and green buildings is expected to further drive growth of the smart home market during the forecast period.
The detailed examination of recent developments including collaboration, mergers and acquisitions, investment and product launches have also been performed during the research on the smart home market. Overview of the gradual shift in the customer preference, spending power, consumption volume and production capability helps business owners understand where the market will be heading in the years to come. Vital statistics on distribution channel and supply chain management across different regions are presented through different resources such as tables, charts and graphic images.
To Receive A PDF Sample Of The Report, Visit @https://www.emergenresearch.com/request-sample/701
Competitive Terrain:
The global Smart Home industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The Leading Market Contenders Listed In The Report Are:
Honeywell, Siemens, Johnson Controls, Schneider Electric, Amazon, Apple Inc., ADT Security Services, Robert Bosch, Assa Abloy, and ABB
Some Key Highlights from the Report
In August 2020, Google announced that it had taken an investment stake in alarm company ADT and also signed a deal to tie ADT’s installer network to the Google ecosystem of smart home products. The deal is expected to help Google by bringing professional installers into the homes of consumers to resell and install Google’s products and also help ADT by giving it a lower cost-cost security offering.
Behavioral segment accounted for largest revenue share in 2020. Behavioral software and service is increasingly utilized in smart homes as it helps in increasing energy efficiency of homes and minimizes energy bills based on behavioral data analysis.
Entertainment control segment revenue is expected to expand at a rapid CAGR during the forecast period. Rising disposable income among consumers in developing countries is boosting demand for volume & multimedia controls, and home theater system controls.
North America accounted for largest revenue share contribution to the global smart home market in 2020. Rising adoption of smart home technology to increase energy efficiency and minimize energy bills is expected to drive market growth during the forecast period.
To Get A Discount On The Latest Report, Visit @https://www.emergenresearch.com/request-discount/701
Segmentation
Software and Service Outlook (Revenue, USD Billion; 2018–2028)
Behavioral
Proactive
Product Outlook (Revenue, USD Billion; 2018–2028)
Energy Management
Lighting Systems
Security & Surveillance
HVAC Control
Entertainment Control
Others
Regional Outlook (Revenue, USD Billion; 2018–2028)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
BENELUX
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
South Korea
India
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Rest of MEA
Regional Segmentation:
North America
Latin America
Europe
Middle East & Africa
Asia Pacific
Browse Detailed Research Report @https://www.emergenresearch.com/industry-report/smart-home-market
Report Highlights:
Besides offering a vivid depiction of the global Smart Home business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2028).
The report scrutinizes the salient factors influencing the growth of the market in the near future.
The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
Key Benefits of the Report:
Comprehensive analysis of the competitive scenario and its changing dynamics
Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
In-depth 8 year analysis of the Global Smart Home Market
Critical assessment of the key market segments
Comprehensive analysis of the drivers, restraints, trends, and opportunities
Detailed regional analysis and extensive company profiling
Extensive assessment of current and emerging trends of the market
Buy Now: @https://www.emergenresearch.com/select-license/701
Browse More Report By Emergen Research:
Indoor Distributed Antenna System Market
https://www.emergenresearch.com/industry-report/indoor-distributed-antenna-system-market
Hemato Oncology Testing Market
https://www.emergenresearch.com/industry-report/hemato-oncology-testing-market
Industrial Automation Market
https://www.emergenresearch.com/industry-report/industrial-automation-market
Biodegradable Films Market
https://www.emergenresearch.com/industry-report/biodegradable-films-market
Smartphone Connected Pacemaker Devices Market
https://www.emergenresearch.com/industry-report/smartphone-connected-pacemaker-devices-market
Chronic Graft Versus Host Disease Market
https://www.emergenresearch.com/industry-report/chronic-graft-versus-host-disease-market
Robotic Process Automation Market
https://www.emergenresearch.com/industry-report/robotic-process-automation-market
Lauryl Myristyl Alcohol Market
https://www.emergenresearch.com/industry-report/lauryl-myristyl-alcohol-market
Menopausal Therapy Market
https://www.emergenresearch.com/industry-report/menopausal-therapy-market
Oxo Alcohol Market
https://www.emergenresearch.com/industry-report/oxo-alcohol-market
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Eric Lee
Emergen Research
+91 90210 91709
sales@emergenresearch.com
Visit us on social media:
Facebook
Twitter
LinkedIn
