Data Analytics in the Smart Home Market Projected to Witness a Huge Demand and Growth Rate During 2022-2027

Data analytics in smart home technology enables controlling all smart devices remotely with an internet of things (IoT) activated system. These connected smart devices in smart homes are able to interpret user behavior and analyze user data, owing to data analytics solutions in smart homes. With this data, security companies can increase security measures and data concerns over time.

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In addition, this data collection also helps to improve comfort and safety of consumers. Data analytics in smart home offers remarkable benefits to end users such as it is highly cost-effective, improves security, integration of IoT devices, reduces energy consumption, and helps in easy handling of regular household tasks. Data analytics is also increasingly being used in smart homes to offer services to consumers. British Gas, for instance, offer a new service in partnership with Worcester Bosh called Boiler IQ, which detects a boiler's performance and notifies customers when it is malfunctioning.

Major players analyzed in the market include ADT Inc., Amazon.com, Inc., Apple Inc., Apogee Interactive Inc., Bidgely Inc., Google LLC, Oracle Corporation, Siemens AG, and Whisker Labs, Inc.

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Increase in use of big data analytics in smart home would offer various advantages such as uses of algorithms to locate models, which provides usable insights, reduction in energy consumption in homes, advanced operations such as adding option of solar panel and integration of artificial intelligence to create more intuitive systems. These factors have turned home into a more practical digital center, which propels demand for data analytics in the smart home market.

The major factors that contribute toward rise in demand for data analytics in the smart home market includes growth in adoption of smart devices among the end-users and the rising demand for real time home security solutions and consumer electronics across the globe. With expansion in internet user base, consumers have significantly shifted toward adoption of smart home monitoring systems, which can be automatically controlled using smartphones or smart gadgets and predict result according to user behavior, and, in turn, boost the demand for data analytics in the smart home market.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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