Press release
Global Smart Homes Systems Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast - 2022 to 2028
The smart homes systems market is anticipated to grow at a significant CAGR of 25.5% during the forecast period (2022-2028). Smart home devices are appropriate for a home setup in which devices may be operated remotely using a mobile or other networked device from any internet-connected location. The consumer may control services such as security access, temperature, lighting, and home entertainment in a smart home as all of its gadgets are connected to the internet. The rising importance of the need to combat security challenges is expected to fuel demand for smart and connected houses globally. Furthermore, the market expansion is likely to be aided by breakthrough wireless technologies such as security and access regulators, entertainment controls, and HVAC controllers.A full report of Global Smart Homes Systems Market is available at:https://orionmarketreports.com/global-smart-homes-systems-market/105083/
The global smart homes systems market is segmented based on type and sales channel. Based on type, the market is sub-segmented into comfort & lighting, control & connectivity, energy management, home entertainment, security, and smart appliances. Among these types, the energy management segment is expected to propel the growth of the market. The use of HVAC systems is predicted to increase as a result of new government efficiency rules. This has paved the way for smart HVAC control systems to be implemented in buildings' most advanced heating and air conditioning units. As a result, existing HVAC equipment would have to be either replaced or adapted to meet government energy efficiency criteria. This would increase the demand for HVAC retrofitting, boosting the growth of the energy management segment. Based on the sales channel, the market is sub-segmented into retail and online.
The market players are also contributing significantly to the market's growth by adopting various strategies, including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in August 2021, a new switch line had been introduced by ABB India. Millenium and Zenit switches are ISI-certified and provide consumers with control, functionality, and comfort in smart buildings and premises that can be easily upgraded with the latest smart home automation systems. With these switches built for both residential and business establishments, customers may switch from standard lighting to an eco-friendly intelligent alternative.
Market Coverage
The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Type
By Sales Channel
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- ABB Ltd., Honeywell International Inc., Emerson Electric Co., Siemens AG, LG Electronics Inc., Cisco Systems Inc., Google LLC, Microsoft Corp., General Electric Co., IBM Corp., andUnited Technologies Corp., among others.
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?
Global Smart Homes Systems Market Report by Segment
By Type
Comfort & Lighting
Control & Connectivity
Energy Management
Home Entertainment
Security
Smart Appliances
By Sales Channel
Retail
Online
Media Contact:
Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
About Us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
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