Asia Pacific Smart Home Technology Market Predict To Propel Owing To Growing Urbanization and Government Initiatives: Ken Research
According to the report analysis, ‘Asia-Pacific Smart Homes Technology Market: Insights and Forecast, 2019-2025: Emphasis on Application (Safety and Security, Smart Appliances, Heating Ventilating, 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)’ states that abundant companies have forayed across the Asian smart home technology market and offer smart devices in dissimilar applications such as smart speaker, security systems, smart TVs, LEDs, switches, kitchen ware appliances and several other devices. With an aim to advance their product portfolio, these players have assumed acquisitions and collaborations strategy to increase their existence in the region. Some of the foremost players functioning in the Asia-Pacific smart home technology market comprise Haier Electronics, ABB Limited, ASSA ABLOY, Cisco Systems, Inc., Emerson Electric Co., General Electric Company, Samsung Electronics Ltd, IBM Corporation, LG Electronics Inc., Schneider Electric S.E., Siemens AG and United Technologies Corporation.
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Asia-Pacific smart home market is sectored based on applications, technology and end-users. Applications (security & safety, smart appliances, home entertainment, lighting& control, HVAC, energy management), technology (wired and wireless technology) and end-users (residential and commercial) are the foremost focus location considered while analyzing and defining the penetration of the smart home technology in dissimilar countries across the Asia-Pacific region. During 2018, smart appliances registered the Asia-Pacific smart home technology market with the supreme share in terms of revenue. Based on estimation, the segment occupied xx share. However, growing demand for customer electronics and increasing awareness among consumers would support the segment to augment at a quicker rate of xx during the review period of 2019-2025.
The propagation and smartening of IoT devices have remarkably ascended up the potential for the industry. Proficient amount of data or information can be stored, gathered, analyzed and transmitted leading to the saving of considerable amount of money by several companies. Not only has this, benefits of smart home technology can also be observed amongst the commercial end-users such as hotels, hospitals and other commercial buildings. Technological breakthroughs have been efficacious in bringing fresh shapes to the smart home technology industry. Smart home technology implementation was majorly prominent amongst the hospitals. Therefore, in the near years, it is predicted that the market of smart technology will increase around the region and globe more effectively over the near future.
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Ankur Gupta, Head Marketing & Communications
Ken Research Pvt. Ltd.,
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