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Smart Homes Market 2018-2023 Trends, Opportunities and Key Players - Honeywell, Siemens, Schneider Electric, ABB, Johnson Controls, Samsung Electronics, United Technologies and Cisco
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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.
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GLOBAL SMART HOMES MARKET SEGMENTATION -
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
• GSM/GPRS
• RFIS
• Others
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