Innovation Benchmarking in Global Smart Home Market

The report covers forecast and analysis for the smart home market on a global and regional level. The global smart home market was valued at around USD 24.10 billion in 2016 and is expected to reach approximately USD 53.45 billion by 2022, growing at a CAGR of slightly above 14.5% between 2017 and 2022. The study includes drivers and restraints for the smart home market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the smart home market on a global level.

This report offers comprehensive coverage on the global smart home market along with, market trends, drivers, and restraints of the smart home market. This report included a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the smart home market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared using data sourced from in-house databases, secondary and primary research team of industry experts.

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The study provides a decisive view on the smart home market by segmenting the market based on product, software, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2016 to 2022. On the basis of product, the market is bifurcated into the smart kitchen, security & access control, lighting control, home healthcare, HVAC control and others. Software use in home automation is behavioral and proactive. The regional segmentation includes the current and forecast demand for North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global smart home market include Legrand, Siemens AG, Johnson Controls Inc., Ingersoll-Rand plc., Schneider Electric SE, Acuity Brands, Inc., ABB Ltd., United Technologies Corporation, Samsung Electronics Co., Ltd., Nest Labs, Inc., Honeywell International Inc. and Crestron Electronics Inc among others.

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Methodology
This report is based on in-depth qualitative and quantitative analyses of the global Smart Home market. Zion Research has collected and analyzed key data belong to the global Smart Home market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Smart Home across the world has been calculated through primary and secondary research.

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Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Smart Home industry. Primary research makes up the major source of data collection and validation.

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
Helps in validating and strengthening the secondary research findings
Further, develops the analysis team’s expertise and market understanding
Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies
Participants who typically participate in such a process include, but are not limited to:

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Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
Purchasing managers, technical personnel, distributors and resellers
Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets
Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
IDC and other relevant magazines
Internal and external proprietary databases, and relevant patent and regulatory databases
National government documents, statistical databases and market reports
News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Smart Home market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

Demographic data: Population split by segments
Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
Data is then cross-checked by an expert panel.

About Us: Zion Market Research is an obligated company. We create futuristically, cutting edge, informative reports ranging from industry reports, a company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with Vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from Cardinal Industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

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