Global Smart Home Market: Detailed Analysis by Latest Trends, Emerging Size, Share, Sale and Forecast to 2024
The forecast Smart Home Market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, Smart Home on a global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report. According to report, the global smart home market is projected to grow at a CAGR of 27% over the forecast period of 2018-2024.
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Availability of Smart Technology Promote Growth in the Smart Home Market
Security, convenience, and energy efficiency drive the growth of the smart home market. In addition, IoT segments are growing, as smart home is becoming a trend in machine-to-machine and IoT technologies Smart homes vertical is witnessing a major action. Variety of sensors can be easily connected to the cloud at affordable prices. Moreover, Smart Gadgets with augmented reality and Virtual reality platforms are now interacting with customers in day-to-day life, which is likely to fuel the growth of the smart home market. As these wearable gadgets are closely associated with the users, the smart home value chain players are targeting these smart gadgets for integrating their smart appliances. However, lack of standards and non-availability of high speed and reliable Internet services are hampering the growth of the smart home market. Furthermore, With the IoT saturation, more and more connected device will appear in the market. The more the number of the device the stronger should be the security aspects to protect from threats. This creates an opportunity for cybersecurity companies.
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North America Region to Contribute to Growth in the Global Smart Home Market
North America dominated the global smart home market and Europe is anticipated to be the fastest growing region. The growth in the North American region is due to factors such as increasing demand for reliable home energy management systems and the growing popularity of integration of smart devices such as tablets and smartphones in smart home solutions. Moreover, South Korea held the largest position in the Asia Pacific regions. On the other hand, 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 will have a smart meter by 2020.
GRDF Begins World’s Largest Gas Smart Meter Roll-out Underpinned by Oracle Technology
In January 2018- GRDF, launched the world’s largest roll-out of smart gas meters, powered by Oracle technology in May 2017. GRDF, which serves 90% of France’s gas market, has selected Oracle Utilities Meter Data Management to help it deliver smart metering services to 11 million customers as part of its gas smart meters programmed.
Using Oracle Utilities Meter Data Management (MDM), GRDF is currently upgrading the natural gas transmission network to make it an effective tool for the energy transition. Eventually, it will be digitized and connected to provide four major features: integrating locally-produced renewable gas, improving safety and performance for the natural gas supply, providing customers and cities with data they can use in their efforts to manage energy demand and creating bridges to other networks so that they can take advantage of the storage capacity and flexibility of the natural gas network. In anticipation of the clean energy package, the transition to smart metering will also help GRDF respond to new European regulation.
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