The global smart homes market is expected to grow from USD 54,601.59 million 2017 to USD 140,182.55 million by the end of 2024 at a Compound Annual Growth Rate (CAGR) of 14.42%.
“Growth in IoT and rapid proliferation of smart devices
is one of the factors largely attributing to the growth of smart homes market globally”
The factors attributing to the growth of the market are growth in iot and rapid proliferation of smart devices, increasing demand for home monitoring from remote locations, increasing demand for energy efficient solutions, collaborative market space and a large number of manufacturers expanding their product portfolios, growing concern about safety, security, and convenience, among people, and growing need for automation of security systems. However, some factors such as convenience-driven demand, high installation and replacement costs, and security and privacy concern may hinder the market growth. The global smart homes market is expected to showcase the opportunities such as government regulations to promoting green buildings, lighting controllers with in-built data-connectivity technology, and power-line communication technology integrated into smart homes. In the near future, the market may face the possible challenges in the growth due to and complexity in linking disparate systems, limited functionality, and lack of open standards. However, the key players in the market are putting regressive efforts to provide innovative offerings and benchmark strategies in the global smart homes market market.
On the basis of component, the global smart homes market is studied across Entertainment Controls, HVAC Control, Home Appliances, Home Healthcare, Lighting Control, Security and Access Control, and Smart Kitchen.
On the basis of technology, the global smart homes market is studied across Cellular Network Technologies, Protocols & Standards, and Wireless Communication Technologies.
On the basis of geography, the global smart homes market is studied across Americas, (United States, Brazil, Canada, Mexico, and Argentina) Europe, Middle East & Africa, (United Kingdom, Germany, France, Saudi Arabia, United Arab Emirates, Italy, and Russia) and Asia-Pacific (China, Japan, India, and Australia).
“ABB Ltd.: The potential growing player for the global smart homes market”
The key players profiled in the global smart homes market are ABB Ltd., Acuity Brands, Inc., Control4 Corporation, Emerson Electric Corporation, General Electric Company, Honeywell International Inc., Johnson Controls, Inc., LG Electronics Inc., Legrand SA, Lutron Electronics Co. Inc., Schneider Electric SE, Siemens AG, Smart home Inc., United Technologies Corporation, and Vivint Smart Home.
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on sulfuric acid offered by the key players in the global smart homes market.
2. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and new product developments in the global smart homes market.
3. Market Development: Provides in-depth information about lucrative emerging markets and analyzes the markets for the global smart homes market.
4. Market Diversification: Provides detailed information about new products launches, untapped geographies, recent developments, and investments in the global smart homes market.
5. Competitive Assessment & Intelligence: Provides exhaustive assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global smart homes market.
Summary:
Get latest Market Research Reports on Smart Homes . Industry analysis & Market Report on Smart Homes is a syndicated market report, published as Global Smart Homes Market - Premium Insight, Industry Trends, FPNV Positioning Matrix, Competitive News Feed Analysis, Company Usability Profiles, Market Sizing & Forecasts to 2024 (Q3 2018 Update). It is complete Research Study and Industry Analysis of Smart Homes market, to understand, Market Demand, Growth, trends analysis and Factor Influencing market.