Press release
Smart Home Market High Demand, Recent Trends, Future Growth, Business Scenario, Product, Technology, Share and Forecasts 2020– 2028
Smart Home Market
The global smart home market size is expected to reach USD 184.10 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to rising need for improved energy efficiency in homes to minimize energy bills and carbon emissions.
Consumers are increasingly adopting smart home systems as these allow monitoring and control of energy usage more efficiently. Home automation systems allow homeowners to control their appliances with the help of smartphone apps and eliminate power consumption of unattended appliances and devices when not in use.
Rising need to minimize negative environmental effects and increase utilization of resources is increasing adoption of smart buildings. Increasing government initiatives for smart city projects and green buildings is expected to further drive growth of the smart home market during the forecast period.
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The global Smart Home market is anticipated to deliver a steady CAGR of 11.9% over the next 8 years to reach a valuation of USD 184.10 Billion in 2028 from USD 75.43 Billion in 2020, according to the extensive analysis carried out by our analysts.
The leading companies of the Smart Home industry are expected to grow at a significant rate as increasing demand for the products of the Smart Home industry is being observed.
The report also analyses key elements such as growth trends, concentration area, business expansion strategies, market reach, and other key features that offer companies insightful data to fortify their position in the Smart Home industry.
Top Key Participants Of the Smart Home Industry Research By Emerge Research: Honeywell, Siemens, Johnson Controls, Schneider Electric, Amazon, Apple Inc., ADT Security Services, Robert Bosch, Assa Abloy, and ABB.
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Major Geographies Analyzed in the Smart Home Market Report:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The pandemic has significantly affected the lives and markets worldwide and has caused disruptions in the business sphere. The report encompasses the effects of the coronavirus pandemic on the Smart Home market along with impacts on the key segments of the industry. The report also offers an idea of the current scenario along with an impact assessment for the coming years.
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Emergen Research has segmented the global smart home market on the basis of software and service, product, and region:
Software and Service Outlook (Revenue, USD Billion; 2018–2028)
Behavioral
Proactive
Product Outlook (Revenue, USD Billion; 2018–2028)
Energy Management
Lighting Systems
Security & Surveillance
HVAC Control
Entertainment Control
Others
The report considers the following timeline for market estimation:
Historical Years: 2017-2018
Base Year: 2019
Estimated Year: 2027
Forecast Years: 2020-2027
Key Question You Are Ask For??
Which segment is expected to garner traction during the coming years?
What are the key strategies adopted by the players in the market?
What are the technological developments and product advancements occurring in the market?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
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Table Of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. Smart Home Market Segmentation & Impact Analysis
4.1. Smart Home Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Rising demand for energy efficient solutions
4.2.2.2. Increasing need to minimize energy bills and carbon emissions
4.2.2.3. Growing penetration of smartphones and smart devices
4.2.2.4. Increasing government initiatives regarding green buildings
4.2.2.5. Growing importance of enhanced security issues
4.2.3. Market restraints analysis
4.2.3.1. High installation cost
4.2.3.2. Security and privacy issues
4.2.3.3. Chances of device malfunctioning
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Smart Home Market By Software and Service Insights & Trends, Revenue (USD Billion)
5.1. Software and Service Dynamics & Market Share, 2021 & 2028
5.1.1. Behavioral
5.1.2. Proactive
Chapter 6. Smart Home Market By Product Insights & Trends, Revenue (USD Billion)
6.1. Product Dynamics & Market Share, 2021 & 2028
6.1.1. Energy Management
6.1.2. Lighting Systems
6.1.3. Security & Surveillance
6.1.4. HVAC Control
6.1.5. Entertainment Control
6.1.6. Others
Continue!!
Conclusion Of the Report:
To conclude everything stated above, the report offers a panoramic view of the Smart Home market in both the global and regional markets, supported by key statistical data and industry-verified facts. It offers a thorough examination of the size, share, and market volume of the Smart Home industry to forecast the same evaluations until 2027. It also studies and analyzes the different growth prospects and opportunities, along with threats that the players might face in the Global Smart Home Market.
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Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
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About Us:
At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
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