openPR Logo
Press release

Smart Homes Market Expected CAGR of 26.9% by 2023 | Leading Players: ABB, Emerson Electric Corporation, Honeywell International, Schneider Electric, Siemens AG, Cisco Systems, Ingersoll Rand

10-30-2018 02:31 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Market Prognosis

Smart Homes Market Highlights:
The global smart homes market was valued at USD 35.7 billion in 2017 and is expected to reach a value of USD 150.6 billion by 2023 at a CAGR of 26.9%, over the forecast period (2018 - 2023).
The threat of climate change, fluctuating energy prices and energy security and supply concerns have necessitated new ways of producing, delivering and consuming energy. In this regard, smart homes have gained increased attention in both policies and government regulations across the globe.

Detailed Sample Copy of Updated Analysis @ https://marketprognosis.com/sample-request/17422
Note: “If this link doesn’t work in Internet Explorer, kindly try copy pasting it in other browsers”.

Europe To Witness The Fastest Growth
Evolving energy policies such as Energiewende and changing consumer preferences have led to a fundamental shift in grid operations to distributed energy resources (DER), with the target to reduce primary energy consumption by 20% by 2020, is driving the deployment of smart grids and smart home infrastructure in Germany. The UK government mandates energy suppliers to install smart meters in 26 million homes with the aim that every household in England, Wales and Scotland to have a smart meter by 2020.
The accelerating smart meter roll-out, growing awareness of the energy crisis coupled with the European directive to reduce 80% of carbon emission by 2050, the UK smart home market is expected to see significant growth over the forecast period. Italy, Russia, France, and Germany are expected to lead the market for HVAC systems, owing to increasing awareness, high per capita income and purchasing power of consumers. However, the lack of understanding of user’s needs, device compatibility issues as well as consumer concerns for privacy and security are expected to hamper the adoption of smart home devices and solutions.

Top Players:
The key players in this market include ABB Ltd., Emerson Electric Corporation, Honeywell International Inc., Schneider Electric, Siemens AG, Cisco Systems Inc., Ingersoll Rand Plc., General Electric, IBM Corporation and Legrand SA.

Key Developments in the Market
• January 2018- GRDF Company, launched the world’s largest roll-out of smart gas meters, powered by Oracle technology. GRDF, which serves 90% of France’s gas market, had selected Oracle Utilities Meter Data Management to help it deliver smart metering services to 11 million customers as part of its smart gas meters programme. GRDF began the full-scale replacement of its 11 million mechanical meters with new smart devices, with the aim replace all current gas meters within five years. This large-scale industrial program will benefit customers and cities by boosting their energy efficiency.
• January 2018 - Bell, Canada’s largest communications company announced the availability of its new Whole Home Wi-Fi service. The company’s partnership with Plume, the pioneer of Adaptive WiFiTM, is aimed at making Bell Canada’s first Internet Service Provider to offer an adaptive, whole home Wi-Fi package to customers as a monthly subscription.
• January 2018 - Mitsubishi announced the development of an autonomous platform that enables networked smart appliances to use their sensors and functionalities to cooperate in new home services without the need for cloud computing or internet connection. The platform aimed to facilitate a wide variety of cooperative smart appliances and related services for increasing comfortable and convenient homes.

Request Discount on this repots @ https://marketprognosis.com/discount-request/17422
Note: “If this link doesn’t work in Internet Explorer, kindly try copy pasting it in other browsers”.

Energy Management Systems To Witness An Increased Adoption
As the population in across the globe increases, so will the energy demand and per-head consumption. There are costs associated with maintenance and upgradation of aging infrastructure, due to high demand. This is driving resilience in energy management systems. Smart energy management technologies help utilities and distributors to anticipate and manage loads better, reduce the requirement for costly infrastructure development, and improve service quality and customer satisfaction. Energy management in smart homes mainly comprises of smart meters, smart appliances, energy management system for devices, and home power generation, all functioning on smart grids. Smart meters are unleashing the potential of power demand management across the world by measuring and smartly managing resources. An instance of this trend is the ongoing process of voluntary replacement of standard meters with smart meters in high volumes in Europe in the recent years.

Growing Trend Towards Sustainability
Smart homes are a significant step on the evolutionary ladder for residential spaces, and their primary aim is to make living more comfortable, convenient, secure, entertaining and sustainable. Powered by gadgets and computing technologies, smart homes were the prerogative of the very rich in the past - but no more. With technological advances in voice control and artificial intelligence, the intelligent assistant is now a viable control center for the connected home. Tech giants and startup attackers have developed solutions delivered through both existing devices and new, stand-alone products. The supply of mobile entities, the improvement of wireless Internet, the emergence of cloud services, the sophistication of low-energy high-performance energy technologies, and other forms of convergence technologies based Internet of Things (IoT) have opened a new era for smart home technology. IoT-oriented smart home aims to collect human-machine interaction, then analyze, predict, and utilize information in solving life problems. Based on this, smart Home is shifting to Smart Space, a paradigm that addresses potential personal and societal issues and further provides new value to the world. There are ongoing various research developments on the subject of Smart Space, and new business models and service platforms are emerging.

Enquiry Before Buying @ https://marketprognosis.com/enquiry/17422
Note: “If this link doesn’t work in Internet Explorer, kindly try copy pasting it in other browsers”.

About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

Contact us:
ProgMark Pvt Ltd,
Thane - 421501
India.
Contact No: +1 973 241 5193
Email: sales@marketprognosis.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Smart Homes Market Expected CAGR of 26.9% by 2023 | Leading Players: ABB, Emerson Electric Corporation, Honeywell International, Schneider Electric, Siemens AG, Cisco Systems, Ingersoll Rand here

News-ID: 1339676 • Views:

More Releases from Market Prognosis

Third-Party Logistics (3PL) Market Latest Study Focuses On Current, Future Innovations and Foreseen Till 2026 | FedEx, Exel Logistics, Menlo Worldwide Logistics, Ryder Logistics
Third-Party Logistics (3PL) Market Latest Study Focuses On Current, Future Innov …
The report covers a forecast and an analysis of the Third-Party Logistics (3PL) Market on a global and regional level. The study provides historical data for 2018, 2019, and 2020 along with a forecast from 2019 to 2026 based on revenue and volume. Overview of the Global Third-Party Logistics (3PL) Market: The report spread across 90 pages is an overview of the Global Third-Party Logistics (3PL) Market. These report study based on the Third-Party
Ride-Hailing Market: An Insight on the Important Factors and Trends Influencing by Top Key Players (Didi, Uber, Lyft, Gett, Hailo, Ola Cabs, Cabify, GoCatch) | Foreseen Till 2026
Ride-Hailing Market: An Insight on the Important Factors and Trends Influencing …
The report covers a forecast and an analysis of the Ride-Hailing Market on a global and regional level. The study provides historical data for 2018, 2019, and 2020 along with a forecast from 2019 to 2026 based on revenue and volume. Overview of the Global Ride-Hailing Market: The report spread across 90 pages is an overview of the Global Ride-Hailing Market. These report study based on the Ride-Hailing Market. It is a complete overview
COVID-19 Impact on Professional Indemnity Insurance Market 2021-2026: Industry Insight and Growth Strategy by Business Players - AIG, Chubb (ACE), Allianz, XL Group, AXA, Aviva
COVID-19 Impact on Professional Indemnity Insurance Market 2021-2026: Industry I …
The report covers a forecast and an analysis of the Professional Indemnity Insurance Market on a global and regional level. The study provides historical data for 2018, 2019, and 2020 along with a forecast from 2019 to 2026 based on revenue and volume. Overview of the Global Professional Indemnity Insurance Market: The report spread across 90 pages is an overview of the Global Professional Indemnity Insurance Market. These report study based on the Professional
Modular Construction Market Future Growth Explored in Latest Research Report by 2026 | Komatsu, Kiewit, Skanska, L&T, Taisei, ACS Group, Bouygues Construction
Modular Construction Market Future Growth Explored in Latest Research Report by …
The report covers a forecast and an analysis of the Modular Construction Market on a global and regional level. The study provides historical data for 2018, 2019, and 2020 along with a forecast from 2019 to 2026 based on revenue and volume. Overview of the Global Modular Construction Market: The report spread across 90 pages is an overview of the Global Modular Construction Market. These report study based on the Modular Construction Market. It

All 5 Releases


More Releases for Smart

Smart Cities Market is Expected to Witness CAGR of 17.3% by 2027 with Applicatio …
A smart city is an urban unit or area that uses various types of electronic Internet of Things (IoT) devices to collect data and then use the insights to manage resources, assets, and services effectively. Green building is a growing trend in the global smart cities market. Constructing eco-friendly infrastructure facilities can provide a sustainable environment in the cities. Moreover, governments are focused on constructing energy-efficient buildings, in order
Internet of Things (IoT) Devices Market By Type (Computing Devices, Smart Media, …
On a global scale, the Internet of Things (IoT) Devices market is currently showing significant development. The innovative methods and market study have helped many of the major players Samsung Electronics, Apple, Lenovo, ASUS, Acer, Huawei, Coolpad, LG Electronics, Google, Panasonic, Microsoft, Brother Industries, Honeywell, Fitbit, Lenovo to carve a name for themselves in the competitive global market. The Internet of Things (IoT) Devices market is experiencing a massive growth
Global Smart Cities Market by Component (Hardware, Software) by Application (Sma …
Global Smart Cities Market: Overview The global smart cities market is expected to reach a mark of over USD 3000 billion by 2024, at a CAGR over 21% during the forecast period. Significant growth in next-generation technologies such as artificial intelligence AI, personalized healthcare, sustainable energy generation and robotics are driving the smart cities’ future. Moreover, the increase in residential preference towards the adoption of advanced information and communication technologies ICT
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands also has great examples of emerging
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
The global smart city transformation is underway Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands
Smart Kitchen Appliances Market ( Smart Refrigerators, Smart Dishwashers, Smart …
The rising demand for smart kitchen appliances is linked to their premium design that offers better effectiveness and more comfort than their traditional counterparts. With energy efficiency at its core, the global market for smart kitchen appliances is expected to surge at a robust pace in the near future.In a report titled “Smart Kitchen Appliances Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022,” Transparency