Press release
Smart Homes Market - Market Expansion Directly Related to Rising Internet Penetration Worldwide
The global smart home market is poised to surge exponentially in the coming years. Besides the rising disposable income of consumers, the market will highly benefit from the increasing internet penetration worldwide. Furthermore, the recent advancements in the Internet of Things (IoT) that resulted in price drops of processors and sensors will encourage manufacturers to promote automation in the household sector. In the last few years, the world witnessed extensive rise in Wi-Fi access facilitated by growth in IoT services. As these devices operate through wireless connectivity, the smart home market will be considerably facilitated by the introduction of high-speed internet. Moreover, the proliferation of Wi-Fi connectivity in the household sector, will aid in the expansion of the global smart home market.Besides these, the demand for smart home appliances will gain pace, as consumers realize the importance as well as benefits of installing energy-efficient products at home. For instance, consumers can decrease usage of energy by means of temperature settings and by scheduling programmable thermostats. Smart thermostats that are linked to home Wi-Fi networks comes with easy to use applications and can be controlled remotely. Despite these advantages, the continuing threat of security breaches on cloud is a key challenge for the market.
The global market for Smart Homes stood at US$ 30.02bn in 2016. Rising at a healthy CAGR of 14.6% from 2017 to 2025, the opportunity in this market is likely to touch US$ 97.61 bn by the end of 2025.
Get an exclusive sample of this report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=163
North America to Continue Leading Global Smart Home Market
Regionally, the global smart home market can be classified into North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. Among these regions, North America has emerged as the leading regional market for smart homes, accounting for a share of 38.7% in the overall market in 2016. Europe also exhibits lucrative opportunities for enterprises operating in the smart home market. These regions demonstrate a greater demand for smart home appliances, compared to other regions and continue being at the market’s fore through the forecast period. In North America, the smart home market is also benefiting from the rising demand for home healthcare.
In Europe countries such as the U.K, Germany, France, and Italy have emerged as the most lucrative pockets for the sale of smart home appliances. The presence of large number of industries and rising need for reducing energy consumption are augmenting the demand of smart home appliances in Europe.
Asia Pacific, however, is expected to project a higher growth rate than other regions between 2016 and 2025. Urbanization witnessed across major economies such as India, Japan, and China will aid the expansion of the smart home market in Asia Pacific. Changing lifestyles, need for energy efficient devices, mobility and comfort are the factors bolstering the demand of smart home market in Asia Pacific.
Browse Press Release of this Research Report @ https://www.transparencymarketresearch.com/smart-homes-market.html
HVAC Control Segment to Project Higher Demand
The global smart home market based on application is segmented into lighting control, security and access control, HVAC control, entertainment control, and others. Among these segments, HVAC control accounted for the highest share of27.2% in the market in 2016. Need for energy efficient devices and the rising demand for optimizing the use of energy are the factors fuelling the demand of HVAC control systems in the global smart home market during the forecast period.
Some of the key players in the global smart home market includes Honeywell International Inc., Siemens AG, Schneider Electric SE, ABB Ltd., Johnson Controls Inc., Emerson Electric Company, Samsung Electronics Co., Ltd., LG Electronics Inc., United Technologies Corporation and Crestron Electronics, Inc. among others.
About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
Contact TMR
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.co
Website: http://www.transparencymarketresearch.com
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 Homes Market - Market Expansion Directly Related to Rising Internet Penetration Worldwide here
News-ID: 794584 • Views: …
More Releases from Transparency Market Research
Handheld Marijuana Vaporizer Market Key Drivers, Market Research, and Insights f …
The global handheld marijuana vaporizer market has witnessed remarkable growth in recent years, attributed to the increasing acceptance of medicinal marijuana and the demand for convenient and discreet consumption methods. Valued at US$ 5 billion in 2021, the market is projected to surge at a CAGR of 13.4% to reach US$ 15.9 billion by 2031. This article delves into the factors driving this growth, the evolving market landscape, and the…
Disinfectant Wipes Market Forecast 2020-2030 - Market Size, Drivers, Trends, And …
The COVID-19 pandemic has precipitated a remarkable surge in the demand for disinfectant products, with a notable emphasis on disinfectant wipes as an essential tool in maintaining hygiene and preventing the spread of pathogens. This research report delves into the multifaceted landscape of the disinfectant wipes market, elucidating key trends, drivers, and innovations shaping the industry.
𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=70359
Key Players and Market Developments
Key players…
Tissue Banking Market is Expected to Reach US$ 2,903.3 Million to 2026| TMR Stud …
The global 𝐭𝐢𝐬𝐬𝐮𝐞 𝐛𝐚𝐧𝐤𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 reached a value of US$ 1,056.4 million in 2017 and is projected to nearly triple to US$ 2,903.3 million by 2026, with a robust Compound Annual Growth Rate (CAGR) of approximately 12.0% from 2018 to 2026. Factors such as increasing awareness about tissue donation, technological advancements, and a growing target patient population are anticipated to propel market growth during this period.
Moreover, the market is expected…
Vascular Closure Devices Market to reach US$ 1 Billion by 2027: TMR Study
This report by Transparency Market Research, Inc. assesses the present state and future growth potential of the global 𝐯𝐚𝐬𝐜𝐮𝐥𝐚𝐫 𝐜𝐥𝐨𝐬𝐮𝐫𝐞 𝐝𝐞𝐯𝐢𝐜𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭. It features a comprehensive executive summary, offering insights into various segments of the market. Additionally, the report provides detailed analysis and data on product, access type, application, end user, and regional segments within the global market.
Vascular closure devices is estimated to reach a value of ~US$ 1 Bn…
More Releases for America
Waterproof Labels Market Outlook, Supportive Judgments | SATO America, LANGGUTH …
Report Ocean recently published a new report on the Global Waterproof Labels Market. The study has an in-depth analysis of the forecast period from 2021-2025. The report reveals a comprehensive picture of the Waterproof Labels Market situation, taking into consideration all major trends, market dynamics, and competitive factors. Additionally, the report contains key statistics concerning the Waterproof Labels Market situation of the leading key players, key market trends, and potential…
Textiles Market Analysis Report, Regional Outlook - Europe, North America, South …
Adroit Market Research has announced the addition of the “Global Textiles Market Size Status and Forecast 2025”, The report classifies the global Textiles in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.
This report studies the global Textiles Speaker market, analyzes and researches the Textiles Speaker development status and forecast in Europe, North America, Central America, South America, Asia Pacific…
Blow Molding Machinery Market Analysis Report, Regional Outlook - Europe, North …
Adroit Market Research has announced the addition of the “Global Blow Molding Machinery Market Size Status and Forecast 2025”, The report classifies the global Blow Molding Machinery in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.
This report studies the global Blow Molding Machinery Speaker market, analyzes and researches the Blow Molding Machinery Speaker development status and forecast in Europe,…
Global Gaucher Disease Market 2018 Covering North America, South America, Europe
Gaucher Disease Market
Summary
The Global Gaucher Disease Market is defined by the presence of some of the leading competitors operating in the market, including the well-established players and new entrants, and the suppliers, vendors, and distributors. The key players are continuously focusing on expanding their geographic reach and broadening their customer base, in order to expand their product portfolio and come up with new advancements.
Gaucher Disease market size to maintain the average annual growth…
Epigenetics Market by End Users, and by Geography North America, Latin America, …
Increasing research to study the epigenetics of the genome (study called epigenomics) is expected to boost growth of the epigenetics market over the forecast period. Genome-wide epigenetic studies play an important role in the diagnostics of human diseases. Moreover, implementation of epigenetics for oncology research is estimated to propel the growth of epigenetics market. For instance, Constellation Pharmaceuticals, in April 2018, invested US$ 100 million for development of cancer epigenetics…
Spas and Beauty Salons Market - South America, Central America and North America …
Consumers’ changing perception towards personal care coupled with continuous strive to improve general well-being are generating a positive impact on the spas and beauty salons industry. Growing consumer need to improve personal appearance and well-being has increased the demand for wellness solutions. Spa centers and beauty salons, in order to meet the increasing demand for unique spa and beauty services, are constantly striving to improve their services by focusing on…
