Press release
Smart Home Solutions Market demand is set to increase at an estimated CAGR of 18.5% from 2022-2031
Rising use of IoT (Internet of Things) and smart technology is helping various countries adopt the smart city concept. With the development of smart cities, new constructions will take place that will drive the need for smart home solutions on a global level. This increase in the number of smart buildings is expected to drive demand for energy saving infrastructure, such as smart home solutions, thus contributing to the growth of the market at a global level.
Get Sample Copy of this Report@ https://www.persistencemarketresearch.com/samples/20602
The market is evolving at a fast pace, and partnerships, investments, and product launches are ongoing.
In September 2020, Black Box, a solutions integrator, introduced its Connected Buildings product. The solution will design, deploy, manage, and maintain the foundational technology that connects the internal ecosystem of interoperable devices and sensors that work together to enable human-to-human, human-to-device, and device-to-device interaction.
In the month of October 2020, STRATIS and Silicon Labs collaborated for a new smart home solution built for apartment complexes.
Company Profiles:
Siemens AG
United Technologies Corporation
General Electric Company
Schneider Electric Se
Honeywell International, Inc.
Ingersoll-Rand PLC
Johnson Controls, Inc.
ABB Ltd.
Legrand S.A.
Samsung Electronics Co., Ltd.
Lutron Electronics Co., Inc.
Leviton Manufacturing Company, Inc.
Acuity Brands, Inc.
Vivint Smart Home
Switchmate Inc.
Request for Methodology@ https://www.persistencemarketresearch.com/methodology/20602
Key Takeaways from Market Study
By type of home, the villas/bungalows segment is anticipated to account for a leading share. However, the apartments segment is estimated to account for a market share of around 23.5% through 2031.
By component, the services segment is anticipated to expand at a CAGR of 17.5% from 2021 to 2031, while the software segment is currently dominating the market.
Adoption of smart home solutions for security and surveillance applications is expected to rise at a high pace at a CAGR of around 16.5% through 2031.
North America is expected to lead the market followed by Europe. East Asia is anticipated to emerge as the fastest-growing market over the coming years.
Japan is expected to account for a market share more than 20% through 2031.
In the U.K., sales are expected to increase at a CAGR of close to 15.5% over the next ten years.
"Increase in government spending on smart cities and emergence of the smart infrastructure concept, together, have led to a surge in demand for the construction of smart buildings, thereby driving the need for smart home solutions," says a Persistence Market Research analyst.
Access Full Report@ https://www.persistencemarketresearch.com/checkout/20602
Growing Need for Advanced Safety & Security
Primary driver for the smart home solutions industry is advanced safety and security features such as gas leakage detectors and fire detection systems. Increased awareness regarding energy efficiency due to rising energy costs and advancements in technology are also important factors surging the demand for smart home solutions.
Nowadays, with increase in the number of working individuals in a house, families are becoming more financially capable of adopting smart home solutions, which is another driver for this market.
Complete Report Details@ https://www.persistencemarketresearch.com/market-research/smart-home-solutions-market.asp
More Valuable Insights on Offer
Persistence Market Research's report on the smart home solution industry research is segmented into four major sections - type of home ( villa/bungalow, apartment and others), component ( hardware, software and services), application (security & surveillance, HVAC, lighting solutions and building energy management), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate the lucrative opportunities in the market.
Related Reports:
Smart Mirror Market - https://www.persistencemarketresearch.com/market-research/smart-mirror-market.asp
Smartphones Market - https://www.persistencemarketresearch.com/market-research/smartphones-market.asp
Contact Us:
Persistence Market Research
Address - 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. - +1-646-568-7751
USA-Canada Toll-free - +1 800-961-0353
Sales - sales@persistencemarketresearch.com
Website - https://www.persistencemarketresearch.com
About Us:
Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers' experience by acting as the "missing" link between "customer relationships" and "business outcomes'. The best possible returns are assured therein.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Smart Home Solutions Market demand is set to increase at an estimated CAGR of 18.5% from 2022-2031 here
News-ID: 2711335 • Views: …
More Releases from Persistence Market Research
Plastic Liner Market to Reach US$ 6.67 Bn by 2030, Expanding at 4.7% CAGR - Pers …
➤ Overview of the Market
The global plastic liner market has gained steady traction across multiple industries due to its cost-effectiveness, versatility, and protective characteristics. Plastic liners are widely used in agriculture, mining, construction, waste management, and packaging industries, where they serve as an essential barrier to prevent leakage, contamination, and material loss. These liners are manufactured using materials such as polyethylene (PE), polypropylene (PP), and PVC, offering superior resistance to…
Returnable Plastic Crate Market to Reach US$ 2,665.1 Million by 2030 Fueled by S …
➤ Overview of the Market
The global returnable plastic crate market is gaining momentum as industries seek cost-effective and sustainable packaging solutions. These crates are widely used for transporting and storing perishable goods, beverages, pharmaceuticals, and industrial products due to their durability, stackability, and reusability. The shift from single-use packaging to eco-friendly alternatives has accelerated the adoption of returnable plastic crates across sectors. The market, valued at US$ 1,820.0 million in…
US Thermal Power Market Expected to Reach US$ 251.9 Mn by 2031 with 2.4% CAGR Gr …
➤Overview of the Market
The US thermal power market plays a crucial role in the nation's energy mix, serving as a stable and reliable source of electricity despite the rise of renewables. Thermal power plants in the US rely primarily on coal, natural gas, and oil to generate electricity, with natural gas emerging as the dominant fuel source due to its affordability, efficiency, and lower carbon footprint compared to coal. According…
Europe Medical Plastic Market to Reach US$ 17 Bn by 2032 Driven by Rising Health …
➤Overview of the Market
The Europe medical plastic market is undergoing robust growth, fueled by increasing demand for lightweight, durable, and cost-effective materials in the healthcare sector. Medical plastics are widely used in devices, surgical instruments, diagnostic tools, implants, and packaging due to their high biocompatibility, versatility, and resistance to sterilization methods. With healthcare systems across Europe investing heavily in modernization and patient safety, the adoption of medical-grade plastics has gained…
More Releases for Smart
Smart Cities Market is Expected to Witness CAGR of 17.3% by 2027 with Applicatio …
A smart city is an urban unit or area that uses various types of electronic Internet of Things (IoT) devices to collect data and then use the insights to manage resources, assets, and services effectively. Green building is a growing trend in the global smart cities market. Constructing eco-friendly infrastructure facilities can provide a sustainable environment in the cities. Moreover, governments are focused on constructing energy-efficient buildings, in order…
Internet of Things (IoT) Devices Market By Type (Computing Devices, Smart Media, …
On a global scale, the Internet of Things (IoT) Devices market is currently showing significant development. The innovative methods and market study have helped many of the major players Samsung Electronics, Apple, Lenovo, ASUS, Acer, Huawei, Coolpad, LG Electronics, Google, Panasonic, Microsoft, Brother Industries, Honeywell, Fitbit, Lenovo to carve a name for themselves in the competitive global market. The Internet of Things (IoT) Devices market is experiencing a massive growth…
Global Smart Cities Market by Component (Hardware, Software) by Application (Sma …
Global Smart Cities Market: Overview
The global smart cities market is expected to reach a mark of over USD 3000 billion by 2024, at a CAGR over 21% during the forecast period. Significant growth in next-generation technologies such as artificial intelligence AI, personalized healthcare, sustainable energy generation and robotics are driving the smart cities’ future. Moreover, the increase in residential preference towards the adoption of advanced information and communication technologies ICT…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands also has great examples of emerging…
Global Smart Infrastructure - A Smart Approach To Smart Cities In 2016
The global smart city transformation is underway
Slowly but surely we are beginning to see a transformation take place in many parts of the world, as governments and councils realise they need to take a holistic approach to future city-wide development. In Australia, for example, we see that Adelaide, Canberra, Newcastle, Lake Macquarie, Sydney, Ipswich and Sunshine Coast have all been identified as being among the leading smart cities. The Netherlands…
Smart Kitchen Appliances Market ( Smart Refrigerators, Smart Dishwashers, Smart …
The rising demand for smart kitchen appliances is linked to their premium design that offers better effectiveness and more comfort than their traditional counterparts. With energy efficiency at its core, the global market for smart kitchen appliances is expected to surge at a robust pace in the near future.In a report titled “Smart Kitchen Appliances Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022,” Transparency…
