Press release
Smart Homes, Buildings Market set to Garner Higher Revenue Globally | Cisco Systems, Control4, Leviton, Schneider Electric, Honeywell Scanning & Mobility, Siemens Building Technologies
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Key players profiled in smart homes, buildings (energy efficient, automated) industry include:
Cisco Systems, Inc.
Control4 Corporation
Leviton MFG. Company Inc.
Schneider Electric SA
Siemens Building Technologies
United Technologies Corporation
Honeywell Scanning & Mobility
Smarthome, Inc.
Emerson Electric Co.
LG Electronics Inc
Benefits of Smart Homes and Buildings:
Energy Savings: Automation and energy-efficient technologies reduce energy waste and lower utility bills.
Convenience: Remote control and automation make daily tasks more convenient and less time-consuming.
Enhanced Security: Smart security systems provide real-time alerts and monitoring, enhancing the safety of residents and occupants.
Comfort Optimization: Automated temperature and lighting control create a comfortable environment tailored to individual preferences.
Remote Monitoring: Users can monitor and control their homes or buildings remotely, increasing peace of mind.
Environmental Sustainability: Energy-efficient technologies and renewable energy integration contribute to reducing the environmental footprint.
Increased Property Value: Smart home features can enhance property value and attract tech-savvy buyers or renters.
Aging in Place: Smart home technologies can help seniors or individuals with disabilities maintain their independence and safety.
Key factors responsible for the smart homes, buildings (energy efficient, automated) market growth include remote control of home functions, increased energy efficiency, and improved appliance functionality.
Smart homes are a priority area of strategic energy planning and national policy. Adoption of smart home technologies (SHTs) relies on prospective users perceiving clear benefits with acceptable levels of risk.
Asia-Pacific registered highest market share, and is projected to maintain the same during the forecast period.
On the basis of application, the lightning control segment emerged as the global leader in 2020, and is anticipated to be the largest market during the forecast period.
Depending on the technology, the Wi-Fi segment emerged as the global leader in 2020, and is anticipated to be the largest market during the forecast period.
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The residential segment emerged as the global leader in 2020, and is anticipated to be the largest market during the forecast period.
Significant installation costs, reliable internet connection, security issues, and technological problems in connected homes act as restrains for the market growth.
A part of the internet of things (IoT), smart home systems, and devices often operate together sharing consumer usage data among themselves and automating actions based on preferences of homeowners.
A smart home is a residence that uses internet-connected devices to enable remote monitoring and management of appliances and systems, such as lighting and heating.
Sales of smart homes, buildings (energy efficient, automated) gadgets is directly proportional to the sales of electronic gadgets. Disrupted import & export activities led to decline in production of such gadgets, which, in turn, led to decline in growth of the smart homes, buildings (energy efficient, automated) market.
Key Features of Smart Homes and Buildings:
Home Automation: Automation systems control various devices and appliances, allowing homeowners or occupants to remotely manage lighting, HVAC systems, appliances, and more.
Energy Efficiency: Smart homes and buildings integrate energy-efficient technologies to monitor and regulate energy consumption, optimizing resource use and reducing utility bills.
IoT Integration: The Internet of Things (IoT) enables devices to communicate and exchange data, enabling seamless integration of various smart devices and systems.
Security and Surveillance: Smart security systems include cameras, motion sensors, door/window sensors, and smart locks that can be monitored and controlled remotely.
Voice Control and Virtual Assistants: Voice-activated devices and virtual assistants, such as Amazon Echo and Google Home, provide hands-free control of smart devices and systems.
Smart Lighting: Lighting systems can be automated and adjusted based on occupancy, time of day, and natural light levels to reduce energy consumption.
Thermostats and HVAC Control: Smart thermostats learn user preferences and adjust temperatures for energy savings. They can be controlled remotely via smartphones.
Energy Monitoring: Real-time energy monitoring allows users to track energy consumption patterns and make informed decisions to reduce waste.
Renewable Energy Integration: Smart buildings can integrate solar panels, wind turbines, and energy storage systems to generate and store clean energy.
Read More Information: https://www.alliedmarketresearch.com/smart-home-automated-building-market
Home Entertainment and Media: Smart homes offer integrated audio, video, and entertainment systems, often controlled from a central hub.
Automated Window Treatments: Motorized blinds and curtains can be programmed to open and close based on sunlight, temperature, or time of day.
Appliance Control: Smart appliances can be remotely controlled, programmed, and monitored for efficient usage.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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