Market Research Report
North America Smart Home Market Forecast 2019-2027
|Published by||Inkwood Research||Product code||728654|
|Published||Content info||91 Pages
Delivery time: 1-2 business days
|North America Smart Home Market Forecast 2019-2027|
|Published: October 19, 2018||Content info: 91 Pages||
The CAGR for the North American smart homes market is expected to be 10.51% for the forecast period of 2019-2027.It is the largest market for smart homes in the world. The North American smart homes market is dominated by the US, followed by Canada.
The major challenges in the growth of this market are the high prices of appliances, low consumer demand and the large number of electrical devices required for the efficient functioning of the smart homes. A major part of the demand for smart homes from the consumer segment is because of the use of appliances for entertainment. Entertainment is the second-fastest growing market in the U.S. The drivers for the Canadian smart home market includes growing awareness among consumers about energy consumption, the increase in the ageing population , rising disposable income in developing countries and government initiatives.
Prominent market players in the North American market for smart homes are Siemens Ag, Control4 Corporation, Crestron Electronics Inc, Emerson Electric Co., Blue Line Innovations Inc, Ee Limited,Lg Electronics Inc., Abb Ltd.,Samsung Electronics Co. Ltd., United Technologies Corporation, Johnson Controls Inc., Schneider Electric Se, Century Technologies Corp, Solatube International Inc, Centrica Connected Home Limited and Honeywell International Inc.