Press release
Global smart home hub market to cross 3.9 million units, growing at a CAGR of 5.4% during 2016−2022
Smart Home Hub Market - Global Outlook and Forecast 2017 - 2022
View Report: https://www.arizton.com/reports/smarttech-market-analysis/smart-home-hub-market
The report provides a holistic view of the global smart home hub market, the companies involved in the market, and the factors driving its growth. The report also provides information on some of the latest trends that have started to surface and are likely to become strong market driving forces over the next five years. This report also provides the Porter’s Five Forces analysis along with a description of each force and its impact on the market. Further the report also provides complete value chain analysis of the global point of sale terminal market.
The international players dominate market
The global smart home hub market is dominated by vendors that have international presence. Many international players are expected to expand their presence worldwide during the forecast period, especially in the fast-developing countries in APAC and Latin America to gain market share. Major vendors mentioned in the report Flex (Wink Labs), LG Electronics, and Samsung.
Other prominent vendors included in the report are Alphabet, Apple, Control4, Cozify, Invoxia, Logitech International, Lowe’s (Iris), Lutron Electronics, SmartBeings, Smartlabs (Insteon), Vera Control, Vivint, Zipato (Tri plus grupa).
North America is likely to witness the sale of 1.66 million units in 2022
An increase in annual savings of end-users and their enhanced spending sentiments because of the economic recovery has increased the demand for smart home hubs in North America. The market in North America is likely to witness the sale of 1.66 million units in 2022. The US is the key country having a majority of market share in the region. The major reason for the growth in demand in Europe is the introduction of upgraded smart home hubs in the market by vendors. A high penetration of smart devices in the UK and Germany paves a significant market penetration opportunity for smart home hubs.
Urbanization of developing countries in APAC is expected to bolster demand for smart home hubs. While China accounted for major market for smart home hubs in 2016, countries such as Japan, South Korea, and India are expected to witness increased demand due to improving the quality of life and increasing per capita disposable income in these countries during the forecast period.
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Source: https://www.arizton.com/reports/smarttech-market-analysis/smart-home-hub-market
About Arizton
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