Smart home technology offers several benefits, such as optimum usage of energy & other utilities, provides comfort & convenience, looks after the safety & security of home, and helps consumers to monitor the performance of smart devices through interface. Simplified accessible standards & protocols and introduction of artificial intelligence (AI) has further helped consumers to make most appropriate decisions that can ease off the pressure from their daily hectic chores. Meticulous Research(R) in its latest publication on the — Smart Home Market states that the global smart home market will increase at a CAGR of 16.5% from 2019 to 2025 to reach $144.0 billion by 2025.
Growth of the global Smart Home market is mainly attributed to growing demand for smart devices powered by artificial intelligence and connected with consistently expanding network of Internet of Things (IoT). Besides, several other benefits offered by smart home such as remote monitoring & security, complete control, flexibility and comfort living is also encouraging consumers to adopt home automations.
To provide efficient analysis, Meticulous Research has segmented this market on the basis of product type (smart lighting systems, smart speakers, smart HVAC control systems, smart security & monitoring systems, smart entertainment systems, smart home appliance, smart kitchen appliance, smart home healthcare system and smart furniture), protocols & standards (wired protocol, wireless protocol and hybrid protocol), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa).
Wherein, geographically, North America commanded the largest share in this market followed by Asia Pacific. The major share of North America is mainly attributed to availability of wide range of smart appliances and systems, higher adoption rate for advanced technologies, growing sense of safety and security, rising need for energy-efficient home appliances, consistent technological development in the field of IoT devices, and presence of established players in this region.
While in terms of products, security & monitoring accounted for the largest share in the global Smart Home market in 2019. The large share of this segment is mainly attributed to rising sense of safety & security among the residents, consumers willingness to incorporate smart home system cited to significant reduction in the cases of home break-in and burglary owing to smart security & monitoring systems.
The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players in this market including Google LLC (U.S.), Amazon (U.S.), Apple, Inc. (U.S.), Siemens AG (Germany), United Technologies Corporation (U.S.), Samsung (South Korea), Honeywell International Inc. (U.S.), Johnson Controls International plc (U.S.), Schneider Electric SE (France), LG Electronics Inc. (South Korea), Robert Bosch GmbH (Germany), ABB Ltd. (Switzerland), ASSA ABLOY (Sweden), General Electric Company (U.S.), Legrand S.A. (France), and Sony Corporation (Japan).
TOP 10 COMPANIES IN SMART HOME MARKET
Key Topics Covered in This Report:
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency and Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
3. Executive Summary
4. Market Insights
4.2. Market Dynamics
18.104.22.168. Rising Sense of Home Safety and Security
22.214.171.124. Consistent Proliferation of Internet of Things (IoT)
126.96.36.199. Need for Attaining Better Energy Efficiency
188.8.131.52. Consumer Hesitance in Technology Acceptance
184.108.40.206. High Cost of Procurement
220.127.116.11. Significant Growth Opportunities in Emerging Region of Asia-Pacific and Middle East & Africa
18.104.22.168. Complete Flexibility & Customization to Consumer
22.214.171.124. Issues Associated with Data Privacy and Security
126.96.36.199. Compatibility Concerns with Old infrastructure
188.8.131.52. Acceptance of Partial Automation
184.108.40.206. Company Collaboration for Better Interconnectivity
5. Smart Home Market, by Product Type
5.2. Product Type
5.2.1. Smart Lighting Systems
5.2.2. Smart Speakers
5.2.3. Smart HVAC Control
220.127.116.11. Smart thermostats
18.104.22.168. Smart Vents
22.214.171.124. Smart Air Conditioning
5.2.4. Security & Monitoring Systems
126.96.36.199. Security Cameras
188.8.131.52. Smart Locks & Access Control
5.2.5. Smart Entertainment Systems
5.2.6. Home Appliances
184.108.40.206. Smart Washing Machines
220.127.116.11. Smart Water Heaters
18.104.22.168. Robotic Vacuum Cleaners
5.2.7. Smart Kitchen Appliances
5.2.8. Smart Home Healthcare Systems
5.2.9. Smart Furniture
5.2.10. Smart Sofas and Recliners
5.2.11. Smart Tables & Desks
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6. Smart Home Market, by Protocols & Standards
6.2. Wired Protocols
6.3. Wireless Protocols
6.4. Hybrid Protocols
7. Smart Home Market, by Geography
7.2. North America
7.3.6. Rest of Europe
7.4. Asia Pacific
7.4.4. Rest of Asia Pacific
7.5. Latin America
7.6. Middle East & Africa
8. Competitive Landscape
8.1. New Product Launches
8.2. Mergers and Acquisitions
8.3. Partnerships, Agreements, & Collaborations
9. Company Profiles (Business Overview, Financial Overview, Product Portfolio, Strategic Developments)
9.1. Google LLC
9.2. Apple Inc.
9.3. Siemens AG
9.4. Amazon Inc.
9.5. United Technologies Corporation
9.7. Honeywell international Inc.
9.8. Johnson Controls international Plc
9.9. Schneider Electric SE
9.10. LG Electronics Inc.
9.11. Robert Bosch GmbH
9.12. ABB Ltd.
9.13. ASSA ABLOY AB
9.14. General Electric Company
9.15. Legrand S.A.
9.16. Sony Corporation
10.2. Available Customization.
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