Market Research Report
Global Smart Home Market: Trends, Opportunities and Forecast (2018-2025)
|Published by||GMI Research||Product code||604240|
|Published||Content info||170 Pages
Delivery time: 1-2 business days
|Global Smart Home Market: Trends, Opportunities and Forecast (2018-2025)|
|Published: March 25, 2019||Content info: 170 Pages||
Global Smart Home Market
by Application (Lighting Control, Security & Access Control, HVAC Control, Home Healthcare, Home Appliances and Entertainment & Other Control) and by Geography - Opportunities & Forecast, 2018-2025 by Application (Lighting Control, Security & Access Control, HVAC Control, Home Healthcare, Home Appliances and Entertainment & Other Control) and by Geography - Opportunities & Forecast, 2018-2025.
The global Smart Home market was valued at USD 52,799.8 million in 2017 and is projected to reach USD 12,5857.9 million by the end of 2025, growing at a CAGR of 11.8 % during 2018-2025.
The key factors bolstering the market growth are rise in the internet of things, increasing penetration of energy-efficient systems and solutions as well as growing demand for real time home security solutions and consumer electronics worldwide. In addition, growing focus of companies towards the development of technologically advanced systems and solutions as well as augmenting demand for smartphones and smart gadgets worldwide smart home
Based on Application type, implantable s Lighting control Segment is anticipated to lead the market during 2018-2025
Lighting control is expected to dominate the market during the forecast period due to the Increasing adoption rate of intelligent lighting controls by households globally. Moreover, a paradigm shifts towards cost-effectiveness and energy efficient lighting controls which have the ability to reduce electricity consumption as they consist of advanced sensors, which automatically adjust the intensity of artificial light according to the surroundings are also driving the market growth.
On the other hand, entertainment control is also witnessing substantial growth in the smart home market, globally. The growth of the market can be attributed to the ease of managing and controlling entertainment systems, such as audio, volume, multimedia room controls within a house. Also, demand for home theatre system controls has grown significantly owing to the advancement in wireless communication technologies.
Some of the major companies involved in the manufacturing and development of smart home include: Siemens AG, General Electric Company, Schneider Electric SE, Honeywell International Inc., Samsung Electronics Co. Ltd., Sony Corporation, LG Electronics, and others. Additionally, key players in the market are expanding their business by pursuing collaborations and acquisitions in potential markets
Based on geography, North America held the largest share in the market in 2017 owing to the growing need for advanced security and access control solutions as well as rising usage of smartphones and tablets in smart home solutions. Europe has also registered a significant growth rate in the global Smart Home market followed by North America. Asia-Pacific is the fastest growing region in the global Smart Home market and is projected to grow at CAGR of 13.0 % during 2018-2025 due to the rising disposable income coupled with the improved standard of living of people. Moreover, consumers are highly inclined towards the installation of connected home and kitchen appliances owing to their beneficial attributes including safety, energy efficiency, and convenience
Various notable players operating in the market include: Siemens AG, United Technologies Corporation, General Electric Company, Schneider Electric SE, Honeywell International, Inc., Ingersoll-Rand PLC, Johnson Controls Inc., ABB Ltd., Legrand S.A., Samsung Electronics Co., Ltd., Sony Corporation, Panasonic Corporation and LG Electronics among others.
The ‘global smart home market’ has been segmented on the basis of application and key geographies. Based on the application, global smart home market has been segmented into lighting control, security & access control, HVAC control, home healthcare, home appliances and entertainment & other control.
The research report “global neurostimulation market” provides in-depth analysis of smart home market, globally, based on application and major geographies for the forecast period from 2018 to 2025. The report highlights the major market drivers fuelling the growth as well as challenges faced by the market participants. The research report provides market size and forecast for smart home market. The report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.