openPR Logo
Press release

Smart Home Market: Research Report Overview by Industry Size, Share, Trends, Growth & Leading Players (2021-2027)

Smart Home Market

Smart Home Market

Research report presented by UnivDatos, Emphasis on Application (Safety and Security, Smart Appliances, Heating Ventilating and Air Conditioning (HVAC), Home Entertainment, Smart Lighting Systems, Smart Energy Management), Technology (Wireless and Wired Smart Home Technology), End-Users (Residential and Commercials End-Users), and Geographical analysis (key regions and countries).

As per the research report, Global Smart Home Market is expected to exceed the market valuation of US$ 208 billion by 2027 expanding at a reasonable CAGR of 19.7% during the forecast period (2021-2027) from US$ 57.6 billion in 2020. Smart home encompasses to be one of the key focus areas which mainly means being connected in IoT world. Smart home technology refers to suite of devices, appliances or systems that are connected in a common network and can be controlled independently and remotely. As the homes are getting smarter and more efficient, the overall adoption is primarily accelerated by spur in smartphone penetration and tablets which interact with connected devices. Smart or connected technologies are continuously developing at an exponential rate credited to innovations such as cloud computing, IoT technology and artificial intelligence, rising penetration of smartphones and increasing internet penetration which further purpose to accelerate the digital transformation in the homes and thereby influencing the creation of new smart products and services.

For complete research, request for Sample of the report browse through – https://univdatos.com/request_form/form/363

Rising consumer convenience, safety & security, energy consumption are the major factors driving the overall growth in the demand of smart home appliances including products related to safety & security, smart home entertainment and energy management among others. With the rising security awareness among the consumers paired with increasing disposable income, homeowners are willing to spend more on smart security technology, more than 45% of the house owners in the US are willing to spend more than US$500 up to US$1,500 on smart security device at their home. As per Quid visualization tool which employs artificial intelligence (AI) to draw connections within large sets of text data predicted that there are around 1,500 companies operating in the smart home ecosystem. These companies are bifurcated into security, health, and smart energy. Together these companies have received nearly US$12 billion in investments by 2018.

Haier Electronics, ABB Limited, Acuity Brands, Inc., AMX, LLC, ASSA ABLOY, Cisco Systems, Inc., Control4 Corporation, Crestron Electronics Inc., Deutsche Telekom AG, Emerson Electric Co., General Electric Company, Samsung Electronics Ltd, Honeywell International Inc., IBM Corporation, LG Electronics Inc., Monitronics International Inc., Schneider Electric S.E., Siemens AG, United Technologies Corporation, and Vivint Inc. are some of the prominent players operating in the global smart home market. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.

For a detailed analysis of the market drivers in the Smart Homes Technology Market browse through - https://univdatos.com/report/smart-homes-technology-market-current-analysis-and-forecast

Insights Presented in the Report

“Amongst product, smart appliances segment holds the major share”

Based on the product type, the market is fragmented into safety and security, smart appliances, hvac, home entertainment, lighting systems and energy management. The smart appliances segment dominated the market with a share of 26.4% in 2020 and is expected to maintain its dominance during the forecast period owing to the unprecedented level of energy consumption efficiency due to both the way they were built and their ability to automatically control energy currents according to customer usage and needs.

“Amongst technology, wireless network is anticipated to dominate the market during the analyzed period”

Based on technology, the market is mainly bifurcated into wireless and cellular networks. In 2020, wireless network accounted for a maximum market revenue share of 83.3% and is expected to remain dominant during the analyzed period owing to the fast transmission speed and low power consumption, ease in expansion and setup and in line with the modern "green low-carbon" appeal. However, the cellular networks segment is anticipated to grow at the highest CAGR over the forecast period. Furthermore, the wireless networks are segmented into Wifi Technology, Bluetooth, Zigbee, Z-Wave, and others (EnOcean, We Mo, Insteon). Also, the cellular network segment is divided into ethernet, power line communication, fiber optics, others.

For a detailed analysis of the applications in the Smart Home Market browse through - https://univdatos.com/report/smart-homes-technology-market-current-analysis-and-forecast

“Amongst end-user, commercial segment is expected to grow at the highest CAGR during the forecast period”

The smart home technology is distributed in several end-users including residential and commercial. The residential end-users segment dominated the market with revenue size of US$ 43,862.4 million in 2020 and is expected to maintain its dominance during the forecast period as the consumers have significantly found the value of connected devices that help to automate their homes and offer greater energy efficiency. Wider adoption of smartphones and proliferation of connectivity within their homes and soaring IoT trend has resulted into an emerging paradigm where consumers can access to affordable tools to create more intelligent homes that purposes to enhance their comfort, security and efficiency. Furthermore, depending on residential end-users, the market is classified into luxury villas, luxury apartments, mid-range apartments, assisted homes and low energy homes. In addition, the commercial end-users are are divided into hotel, hospital and othe commercial buildings.

“North America signifies one of the largest markets of Smart Home Technology Market”

For a better understanding of the market dynamics of the Smart Home Technology market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia-Pacific, Latin America and MENA has been conducted. North America dominated the market and generated revenue of US$ 27,084.4 million in 2020 owing to the first-mover advantage. Increasing demand for smart devices, high penetration of smartphone & internet has helped North America to dominate the smart home market in the current scenario. However, the Asia-Pacific region owing to increasing disposable income paired with government initiative is expected to witness the highest growth during the analyzed period.

Customization Options:

The Smart Home Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

Contact us:
UnivDatos Market Insights (UMI)
Email: sales@univdatos.com
Web: https://univdatos.com
Ph: +91 7838604911

About Us:
UnivDatos Market Insights (UMI), is a passionate market research firm and a subsidiary of Universal Data Solutions. Rigorous secondary and primary research on the market is our USP, hence information presented in our reports is based on facts and realistic assumptions. We have worked with 200+ global clients, including some of the fortune 500 companies. Our clientele praises us for quality of insights, In-depth analysis, custom research abilities and detailed market segmentation.

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 Home Market: Research Report Overview by Industry Size, Share, Trends, Growth & Leading Players (2021-2027) here

News-ID: 2287313 • Views: 484

More Releases from UnivDatos Market Insights (UMI)

Dieta.ry Supplement Market Growth Statistics, Gross Margins, Top Manufacturers w …
Global Die.tary Supplement Market was valued at US$ 176.55 billion in 2019 and is anticipated to reach US$ 262.57 billion by 2026 displaying an elevated CAGR of 5.4% over the forecast period (2020-2026). Die.tary supplements can be defined as any vitamin, mineral, added chemical substances, botanical or herbal products that are added to the die.t to improve human health. A healthy population can lead the nation better in all the
Remote Patient Monitoring System Market Growth, Upcoming Demand Analysis, Progre …
Remote Patient Monitoring System Market was valued at more than US$ 900 million in 2020 and is expected to grow at a CAGR of 15% over the forecast period (2021-2027). A remote patient monitoring system is a healthcare delivery method that uses technology to monitor a patient’s vital body state remotely. The various factors driving the growth of the remopte patient monitoring system market include the rise in chronic disease
Inflatable Pet Collar Market Growth, Upcoming Demand Analysis, Top Manufactures, …
Global Inflatable Pet Collar Market is expected to reach the market valuation of US$ 105.9 billion by 2027 expanding at a significant CAGR of 5.41% during the forecast period (2021-2027) from US$ 74.1 billion in 2020. Inflatable Pet Collars are used when the pets met with some injury or surgery to prevent pets from licking their open wounds or inflamed skin. These collars are soft, completely bite and scratch-resistant, while
Data Historian Market Share, Value, CAGR, Outlook, Analysis, Latest Updates, Dat …
Global Data Historian Market is expected to exceed the market valuation of more than US$1.5 million by 2027, demonstrating significant CAGR of around 5.4% during the forecast period (2021-2027). A comprehensive overview of the Global Data Historian Market is recently added by UnivDatos Market Insights to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative

All 5 Releases


More Releases for Smart

Smart Solutions
Heidelberg, May 28, 2019 – The dental group Young Innovations presents new products that increase efficiency and safety in the practice: The high-quality Galaxie Cassettes simplify the cleaning, sterilization and classification of hand instruments. A stable case made of electropolished stainless steel protects the equipment, the unique design reduces the contact points. A laser-cut pattern maximizes water through flow and increases efficiency in the RDG / thermal disinfector. Smooth rounded corners
Smart Mirrors
A smart mirror is an ordinary mirror with additional features and functionalities, incorporating capabilities that are otherwise done manually or in some computing system other than the mirror. For instance, a mirror that can connect to a smartphone or the internet and offer some measure of user comfort. The computing features in smart mirrors enable them to connect to the Internet and smartphones, categorizing them as connected devices. Connected devices
SMART SHIPS NEED SMART REGISTRIES
The shipping world needs to wake up and embrace the philosophy of smart shipping because it is already here and the downturn in the world economy is not going to last forever, according to Panos Kirnidis, CEO of the Palau International Ship Registry. “The maritime industry knows that smart ships and smart technology is the way forward and yet there seems to be reluctance on the part of some owners to
Smart Watch: Purchase Drivers
ReportsWorldwide has announced the addition of a new report title Smart Watch: Purchase Drivers to its growing collection of premium market research reports. This ‘360 View Update’ assesses the current state of the smart watch market. It quantifies how consumers purchase, use, and think about both smart watches and traditional watches. Findings help smart watch manufacturers, traditional watch manufacturers, and app developers refine their business strategies at this pivotal time in
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
Smart Cities
By 2050, the world's population is expected to reach nine billion, with over two thirds of people living in cities. On Tuesday, December 9, ICT and sustainability experts will convene at the German Center for Research and Innovation (GCRI) in New York to discuss future solutions for urban systems. NEW YORK (December 3, 2014) – Urbanization, globalization, demographic and climate change are continually placing higher demands on our cities. How will