Press release
Smart Home Market Size 2021 Share, Demand, Revenue, Future Development, Expected Growth Factors and Forecast to 2026
The global smart home market size was USD 79.90 billion in 2018 and is projected to reach USD 622.59 billion by 2026, exhibiting a CAGR of 29.3% during the forecast period.
Highlights of the Report
Extensive analysis of the competitive landscape, such as mergers, acquisitions, contracts, agreements, strategic collaborations, and innovative product launches.
In-depth information about the smart home market trends, growth drivers, barriers, opportunities, and challenges.
List of all the segments present in the market.
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Quantify Technology Joins Hands with Harvey Norman and 3PG
December 2019: Quantify Technology, a pioneer of Truly Intelligent Buildings (TIB) and the Internet of Things (IoT), based in Western Australia, announced that it has signed an agreement with Harvey Norman Commercial Division, and 3 Property Group (3PG). The agreement will ensure that all the future 3PG projects must possess Quantify's smart home solutions for the next three years. These innovative solutions will be available in the market under the name of '3Q Home Automation.' The agreement is worth $170,000 and is vital for Quantify as it would help the company in entering the flourishing market in the ACT. The solutions will be provided in total of 53 townhouses across Sage and Soho and Balcombe Terraces projects.
Fortune Business Insights™ profiles some of the renowned companies operating in the smart home market. They are as follows:
ABB Ltd.
Assa Abloy
Centrica Connected Home Limited
Control4 Corporation
Crestron Electronics
Emerson Electric Co.
General Electric Company
Honeywell International
Johnson Controls, Inc.
Samsung Group
Schneider Electric SE
Sony Corporation
Other key market players
MARKET OPPORTUNITY
Globally, several countries including China, Germany, Brazil, India, Canada, South Korea and others, are adopting green building policies. This initiative would help in creating huge opportunities for the smart home market in the coming years. It will also help in boosting the adoption of energy management smart devices including thermostats, smart meters, and smart plugs. Several initiatives and projects have been launched by the government of different regions to promote the development of green buildings. Apart from these, advancements in the data communication technology and smart city projects are some of the key emerging opportunities that would augment smart home market revenue.
According to the U.S. Green Building Council (USGBC), during 2015-2019, around 76,500 residential units have been certified worldwide, under Leadership in Energy and Environmental Design (LEED) projects. LEED projects were adopted by more than 150 countries and territories across the world.
Increasing Adoption of Smart Devices for Energy Management to Boost Growth
Numerous countries, such as South Korea, China, Canada, India, Brazil, and Germany, are utilizing green building policies. This initiative would aid in creating immense opportunities for the market during the forecast period. It is also expected to promote the adoption of energy management smart devices, namely, smart plugs, smart meters, and thermostats. The governments of various countries across the world are putting forward many projects and taking initiatives to develop green buildings for sustainable living. Besides, technological advancements in data communication and the rising number of smart city projects are likely to drive smart home market growth in the coming years.
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MARKET DRIVERS
The Internet of Things (IoT) platform is one of the most prominent global economic drivers for the smart home market. IoT-based appliances offer energy-efficient capabilities at residences. Key companies are focused on the development of IoT platforms and related technology (Machine Learning, Artificial Intelligence, etc.), that can be deployed in smart home products. For instance, in 2018 Cisco Systems, Inc. partnered with SAS Institute, Inc. The partnership was initiated to develop an edge-to-enterprise IoT analytics platform. This platform will help several organizations to develop residential applications based on analytics software as per different requirements.
Moreover, with the rising adoption of IoT platforms in smart appliances, market growth for homes is expected to rise exponentially. According to Intel Corporation, in 2015 around 15 billion active IoT devices were registered worldwide. This number is expected to reach a market unit of around 200 billion by the end of 2020. Apart from that, the growth in the IoT will certainly help to boost the global smart home market in the near future.
KEY QUESTIONS ANSWERED:
What are the key technological and Smart Home Market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
Why Choose Fortune Business Insights?
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the Smart Home Market growth
Market Segmentation -
By Product
Home Monitoring/Security
Security Cameras
Smart Door locks
Others (Storage Devices, Servers, Doorbells, etc.)
Smart Lighting
Entertainment
Speakers/Soundbars
Voice Assistant
Smart TV/Projectors/Monitors
Wearable
Others (Smart Remote etc.)
Smart Appliances
Smart Refrigerators
Smart Air Conditioners
Others (Smart Vacuum Cleaners, Washing Machines etc.)
Others (Thermostat, etc.)
By Region
North America (U.S. and Canada)
Europe (U.K., Germany, France, Spain, and Rest of Europe)
Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)
Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
Latin America (Brazil, Mexico, and Rest of Latin America)
Reasons to Purchase This Report:
A detailed study of product launches of every marketing player, their market channels, tactics, and market growth.
• The report helps to understand the key product segments and their future scope up to Five Decades.
• The report allows readers and market players to understand market Size, Share, Trend, and Future Forecast.A
• The Report Provide Deep analysis with region-specific assessments and competition analysis on a global and regional scale.
Have Any Query? Ask Our Experts:
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What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
Research Methodology:
We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders.
The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
Key questions answered in Smart Home Market report:
What will the market growth rate of Smart Home Market in 2021?
What are the key factors driving the global Smart Home Market?
Who are the key manufacturers in Smart Home Market space?
What are the market opportunities, market risk and market over view of the Smart Home Market?
What are sales, revenue, and price analysis of top manufacturers of Smart Home Market?
Who are the distributors, traders and dealers of Smart Home Market?
What are the Smart Home Market opportunities and threats faced by the vendors in the global Smart Home Market?
What are sales, revenue, and price analysis by types and applications of Smart Home Market?
What are sales, revenue, and price analysis by regions of Smart Home Market?
With tables and figures helping analyze worldwide Global Smart Home Market Forecast this research provides key statistics on the state of the industry and should be a valuable source of guidance and direction for companies and individuals interested in the market.
Detailed Table of Content -
Introduction
Definition, By Segment
Research Approach
Sources
Executive Summary
Market Dynamics
Drivers, Restraints, and Opportunities
Emerging Trends
Key Insights
Macro and Micro Economic Indicators
Consolidated SWOT Analysis of Key Players
Porters Five Forces Analysis
Global Smart Home Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
Market Size Estimates and Forecasts
By Product (Value)
Home Monitoring/Security
Security Cameras
Smart Door locks
Others (Storage Devices, Servers, Doorbells, etc.)
Smart Lighting
Entertainment
Speakers/Soundbars
Voice Assistant
Smart TV/Projectors/Monitors
Wearable
Others (Smart Remote etc.)
Smart Appliances
Smart Refrigerators
Smart Air Conditioners
Others (Smart Vacuum Cleaners, Washing Machines etc.)
Others (Thermostat, etc.)
By Region (Value)
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
North America Smart Homes Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
By Product (Value)
Home Monitoring/Security
Security Cameras
Smart Door locks
Others (Storage Devices, Servers, Doorbells, etc.)
Smart Lighting
Entertainment
Speakers/Soundbars
Voice Assistant
Smart TV/Projectors/Monitors
Wearable
Others (Smart Remote etc.)
Smart Appliances
Smart Refrigerators
Smart Air Conditioners
Others (Smart Vacuum Cleaners, Washing Machines etc.)
Others (Thermostat, etc.)
By Country (Value)
U.S.
Canada
TOC Continued...
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