Press release
Smart Homes Technology Market share will continue to expand steadily through 2027 | General Electric Company, Honeywell International Inc., Crestron Electronics Inc., Deutsche Telekom AG
Report Ocean releases its latest report on the global Smart Homes Technology Market. A combination of information gathered from first-hand sources, qualitative and quantitative assessments of industry analysts, and insights from experts and participants across the value chain is used to calculate the global Smart Homes Technology Market.The global smart home technology market will grow at a CAGR of 19.8% during the forecast period 2021-2027. North America's smart home technology market size was valued at US$ 27,084.3 million in 2020.
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Factors Affecting the Growth of Global Smart Home Technology Market
The trend of smart home appliances including those related to safety & security, smart home entertainment, and energy management is driven primarily by the growth of consumer convenience, safety & security, and energy consumption.
Mobile communication software market growth has been influenced by factors such as the increasing adoption of smartphones and internet penetration around the globe during the review period.
In the coming years, the growth of the Smart Home Market will be driven largely by consumer interest in video doorbells, voice-assist technology (including Alexa and Google Home), and surveillance systems.
The reports include an in-depth analysis of macroeconomic indicators, market trends, and underlying factors, as well as market attractiveness by segment. The reports include a qualitative impact map of different market factors. COVID-19 (Corona Virus) had an impact on the product industry chain based on upstream and downstream markets, on regions and countries, and the future development of the industry.
The reports on the Global Smart Homes Technology Market provide readers with a better understanding of the market and competitive landscape to support better decision-making. Report contents include an overview of participants, revenue results, sales volume, gross margin, capital investment, and global Smart Homes Technology Market growth rates.
Researchers gather and validate the market size and demand information with market experts. They also examine the geographical distribution of the Smart Homes Technology Market. Top manufacturers, distributors, traders, and dealers use these market studies to gain insights into the industry. It will provide an overview of the product, the market, the driving forces, the risks and opportunities, and the research findings.
Impact Analysis of COVID-19
A detailed study of Covid-19 impacts the Smart Homes Technology Market is provided in the report.
The World Health Organization has declared Covid-19 a global health emergency due to its impact on thousands of people worldwide. The Coronavirus disease, which already affects these groups, had affected Smart Homes Technology Market segments.
While the death toll continues to climb, the economic damage is already evident, making this the world's worst economic shock in decades.
Chaos can lead to several undesirable outcomes, including restaurant closings, flight cancellations, travel restrictions, indoor event venues losing permits, customer confidence eroding, stock markets fluctuating, and citizens becoming anxious.
The report extensively examines the fundamental aspects of the Global Smart Homes Technology Market, including its future prospects and competitive landscape. The Porter's Five Forces analysis of the Smart Homes Technology Market provides insight into the factors influencing its growth. This market study breaks down the Smart Homes Technology Market into segments, regions, and players in order to present an accurate picture of the current market environment. The study also includes macroeconomic and microeconomic analyses. Several graphs and charts appear in the report effectively.
Regional Overview
An analysis of the Smart Homes Technology Market at the country level looks at segments classified as potentially high-growth, countries with the largest market share, and countries with the best growth prospects. Among the regional breakdowns in the Smart Homes Technology Market study are North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), Other countries.
Leading Competitors
The leading prominent competitors in the global Smart Homes Technology Market are:
Haier Electronics
Samsung Electronics Ltd
United Technologies Corporation
Acuity Brands, Inc.
AMX, LLC
ABB Limited
IBM Corporation
ASSA ABLOY
Cisco Systems, Inc.
Control4 Corporation
Emerson Electric Co.
General Electric Company
Honeywell International Inc.
Crestron Electronics Inc.
Deutsche Telekom AG
LG Electronics Inc.
Monitronics International Inc.
Schneider Electric S.E.
Siemens AG
Vivint Inc.
Other Prominent Players
Scope of the Report
The global Smart Homes Technology Market segmentation focuses on:
Segmentation based on Product
Safety and Security
Smart Appliances
Heating Ventilating, Air Conditioning (HVAC)
Home Entertainment
Smart Lighting Systems
Smart Energy Management Safety and Security
Smart Appliances
Heating Ventilating, Air Conditioning (HVAC)
Home Entertainment
Smart Lighting Systems
Smart Energy Management
Segmentation based on Technology
Wireless Smart Home Technology
Wi-Fi Technology
Bluetooth Technology
ZigBee Technology
Z Wave Technology
Other Wireless Technology
Wired Smart Technology
Ethernet Technology
Power Line Communication
Fiber to Home Technology
Other Wired Technology
Segmentation based on End-User
Residential End-User
Luxury Homes
Mid-Range Apartments/Homes
Assisted Homes
Low Energy Homes
Commercial End-User
Smart Hotels
Smart Hospitals
Other Commercial Buildings
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