Smart Home

Global Smart Home Market Research Growth, Forecast, Size, & Analysis Report

Global Smart Home Market

GMI Research forecasts that Smart Home Market incurred a total revenue of USD 69 billion in 2019 and is predicted to touch USD 166 billion in 2027, which is due to increasing business potential of AI-enabled smart speakers will lead the market to grow at a compound annual growth rate (CAGR) of 11.6% during the forecast period 2019-2027.

Smart Home is a convenient home setup that is fully equipped with lighting, heating, and electronic devices that can be easily controlled via any internet-connected place in the world with the help of smartphone or other networked device. Some of the smart appliances that are used in the home includes Smart locking systems, Smart TVs, Smart security cameras, Smart Entertainment systems, and other systems.

The significant factors responsible for the growth of the smart home market size includes the accelerating adoption of smart devices among the end-users, followed by the strong demand for real time home security solutions and different types of consumer electronics at the global level. With the continuous expansion of internet user base, the individuals are increasingly opting for home monitoring systems which can be automatically controlled with the help of smartphones or smart gadgets from any part of the world. This factor will have a positive impact on the growing smart home market share.

As per the smart home market analysis, numerous government initiatives are emphasizing on spreading environmental awareness through encouraging the adoption of energy-saving and low carbon emission solutions, thus surging the market growth. The Smart home reduces the energy consumption and enhances the safety and security of the home while delivering an unforgettable experience to individual. The market research illustrates that the leading players are heavily investing in the development of the technologically advanced smart home systems and solutions which will open new doors for the market growth. Furthermore, the growing implementation of smart speakers, home appliances, and light control systems among the target customers will further support the market growth. On the other edge, the high cost related to the installation of the smart appliances will impact the smart home appliances market, thus hampering the growth of the market over the coming years.

China smart home market is witnessing strong demand due to the continuous growth of the smart home industry and the increasing implementation of hardware and software solutions in various industry verticals. Moreover, the US smart home market is growing at a substantial rate attributed to the emerging trend of smart lighting controls, HVAC controls and security control. This factor is also contributing to the growth of the US smart home market size over the coming years.

Players in Smart Home Market:

  • Honeywell International Inc.
  • Siemens AG
  • Johnson Controls
  • Schneider Electric
  • United Technologies
  • Amazon Inc.
  • Apple
  • Google
  • ADT
  • Robert Bosch GmbH

Market Segmentation:

Smart Home Market Report Segment by Product:

  • Lighting Control
    • Relays
    • Occupancy Sensors
    • Daylight Sensors
    • Timers
    • Dimmers
    • Switches
    • Accessories and Other Products
  • Security and Access Control
    • Video Surveillance
      • Hardware
      • Software
    • Access Control
      • Biometric
      • Non-Biometric
    • HVAC Control
      • Smart Thermostats
      • Sensors
      • Control Valves
      • Heating and Cooling Coils
      • Dampers
      • Actuators Pumps and Fans
      • Smart Vents
    • Entertainment Control and Other Controls
      • Entertainment Control Products
        • Audio, Volume, and Multimedia Room Controls
        • Home Theatre System Controls
        • Touchscreens and Keypads
      • Other Control Products
        • Smart Meters
        • Smart Plugs
        • Smart Hubs
        • Smart Locks
        • Smoke Detectors
      • Smart Speaker
      • Home Healthcare
      • Smart Kitchen
        • Smart Refrigerator
        • Smart Coffee Makers
        • Smart Kettles
        • Smart Dishwashers
        • Smart Ovens
        • Smart Cooktops
        • Smart Cookers
      • Home Appliances
        • Smart Washers
        • Smart Dryers
        • Smart Water Heaters
        • Smart Vacuum Clean
      • Smart Furniture
        • Smart Tables
        • Smart Desks
        • Smart Stools and Benches
        • Smart Sofas
        • Smart Chairs

Smart Home Market Report Segment by Software & Services:

  • Behavioural
  • Proactive

Smart Home Market Report Segment by Region:

  • North America
    • United States of America
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, be it small and medium enterprises or large organization. Our research team helps the clients to understand the importance and impact of the market dynamics. We have a team of industry experts that provides unbiased insights on reports to best meet the specific needs of our clients. GMI Research’s analysts rely on secondary research to lay down the foundation of every report. We use both internal and external databases to cull out relevant information about the industry. Our main aim is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client, through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

This Press Release has been written with the intention of providing accurate market information which will enable our readers to make informed strategic investment decisions. If you notice any problem with this content, please feel free to reach us on [email protected]

Source: https://markets.financialcontent.com/stocks/news/read/40723920/global_smart_home_market_research_growth

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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