12-06-2018 08:55 PM CET - Industry, Real Estate & Construction

Smart Homes Market 2018-2023 Trends, Opportunities and Key Players - Honeywell, Siemens, Schneider Electric, ABB, Johnson Controls, Samsung Electronics, United Technologies and Cisco

Press release from: P&S Intelligence

The global smart homes market is projected to reach $70,208.6 million by 2023, growing at a CAGR above 14% during 2017 - 2023. Due to increasing internet penetration globally, and significant growth in automation technologies such as internet of things (IoT), the global smart homes market is gaining huge traction. Furthermore, recent developments in home automation technologies have resulted in drop in prices of sensors and processors, which are contributing to the growth of global smart homes market.

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Geographically, North America has been the largest market for smart homes; whereas, the market is expected to witness the fastest growth in Asia-Pacific, during the forecast period. The anticipated high growth in Asia-Pacific can be attributed to factors such as advancement in home automation technologies, rapid growth in industry digitalization, new technological developments in telecom industry, along with setting up of advanced hardware and software manufacturing units, and increasing adoption of data analytics across industries in the region.

Factors propelling growth in the global smart homes market include significant increase in demand for smart home appliances, surge in demand for smart home healthcare solutions, amplified adoption of IoT and related technology in household sector, and rising need for energy saving solutions having lower carbon footprint.

Some of the key players operating in the global smart homes market are Honeywell International Inc., Siemens AG, Schneider Electric SE, ABB Limited, Johnson Controls Inc., Samsung Electronics Co. Ltd., United Technology Corporation and Cisco Systems Inc.

Explore report description @ www.psmarketresearch.com/market-analysis/smart-homes-market

By Product
• Home Entertainment System
o Multimedia Control
o Home Theater System Control
o Others
• Lighting Control System
o Sensors
o Timers
o Dimmers
o Others
• Smart Home Appliance
o Smart Refrigerator
o Smart Washing Machine
o Smart Dishwasher
o Smart Kitchen Appliance
• Security & Access Control
o Audio-Visual Surveillance
o Fingerprint Recognition
o Facial Recognition
o Others
• HVAC Control
• Smart Home Healthcare

By Technology
• Wi-Fi
• Bluetooth
• Others

About P&S Intelligence

P&S Intelligence, a brand of P&S Market Research, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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