Press release
Global Smart Home Market Intelligence & Future Trends 2017-2026
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Global Smart Home Market is further estimated to grow at a CAGR of X% from 2019 to reach USD X Billion by the year 2026. North America region holds the highest market share in 2018 and Asia-Pacific market is considered as the fastest growing market in the forecasted period. At a country level, developed markets like the U.S. as well the emerging markets like China with highest population base holds a notable market share in 2018 and it is projected to grow at a gradual pace in the coming years.
Drivers:
Technological advancements in different segments like self-monitored security systems for smart homes
Government grants provided to promote green buildings and eco-system
Restraints:
The high cost of switching from existing devices to updated ones
Segmentation done on the basis of Application includes Security & Access, Lighting Control, Heating Ventilation & Air Conditioning, Smart Kitchen, Home Healthcare, Home Appliances, Entertainment of which the Lighting Control segment is expected to hold the highest market share during the forecast period. This is increasing due to the investment of government in a smart city project. Peer-to-peer connections between devices for the autonomous functioning of devices are created by this lighting controller.
The Entertainment segment is also expected to grow at the highest CAGR during the year 2018-2026. This growth is attributed due to the use of wireless entertainment systems.
Key Benefits for Stakeholders
Real estate builders
Sensor Component Manufacturers
Raw Material & equipment suppliers
Interior Designers and Project Consultants
Home Appliances Vendor, Network, and Communication service provider.
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By Application
Security & Access
Lighting Control
Heating Ventilation & Air Conditioning
Smart Kitchen
Home Healthcare
Home Appliances
Entertainment
By Region
North America
Europe
Asia-Pacific
ROW
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