The smart home market anticipated growing by the rapid pace of urbanization and the rise in income disposable among consumers across the globe
The global smart home market predicted to grow with a noteworthy rate during the forecast period 2019-2027, owing to the upsurge in income levels across the world. The global smart home market will bolster by the growth in demand because of the security measures, entertainment, and authentication and low carbon emission-oriented solution. The smart home market is growing due to urbanization, and people want everything to be done by automation and in a centralized manner where they can control everything through sensors or remote controllers. In different regions across the globe, smart home devices are growing because of the increasing demand for smartphones and gadgets, which helps in accessing and controlling devices and provide entertainment as well.
Moreover, increasing crime rates and concerns about home security increase the smart home demand in the global market. The growing demand in the future of smart home devices will grow more because of the rise in the income level, the standard of living, urbanization, and increasing population. China and Japan are among the potential countries for the higher growth of the smart home market due to the growth in the large-scale implementation of hardware and software solutions across these countries. The smart home devices have a vast market of various products, such as lighting controls, HVAC controls, security, and access controls, among others.
Further, adoption in the smart home for entertainment controls helps in boosting the growth of the market for the home theatre system. The increase in the smart home market can attributed to the surge in demand for smart home products, including smart meters and smoke detectors. Additionally, the growing cost of electricity expected to drive household consumers toward energy savings. Moreover, the increase in demand for smart plugs, smart hubs, and smart locks will fuel the global smart home in the upcoming year.
Product Type Overview in the smart home market
Based on Product Type, the global smart home market categorized into Lighting Control, Home Appliances, Security & Access Control, Entertainment, HVAC, Smart Speaker, Home Healthcare, Smart Kitchen, Smart Furniture Products, and others. Home appliances segment expected to dominate the global smart home market owing to the rise in the urban population coupled with the increase in demand for monitoring, controlling, and automating functions in a home.
Deployment Overview in the smart home market
Based on deployment, the global smart home market bifurcated into software and services. The software segment estimated to dominate the market, owing to the Internet of things (IoT) which, increases the connection between machine to machine solutions. There are two types of software and services- behavioral and proactive. The behavioral type software and services analyze energy-related data and then forward it to the end-users. The segment restricts only to transmitting and receiving data and, like the proactive type, does not perform intelligent actions. Behavioral type solutions provide direct feedback to end-users and provide essential information related to historical data reflecting energy usage and real-time energy data. Therefore, behavioral type software and services held the largest share in 2019.
Regional Insights Overview in the smart home market
Based on the region, the global smart home market segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The Asia Pacific anticipated generating maximum revenue in the global smart home market owing to high spending on smart home devices along with increasing environmental concern regarding carbon emission-oriented solutions.
Global smart home market: Competitive Landscape
Companies such as ADT, Robert Bosch GmbH, ASSA ABLOY, ABB Ltd., Ingersoll-Rand PLC, ABB, S.A., GE, Comcast Corp. are the key players in the global smart home market.
Global Smart Home Market Report Content 1. Research Strategic Development 1.1. Market Modelling 1.2. Product Analysis 1.3. Market Trend and Economic Factors Analysis 1.4. Market Segmental Analysis 1.5. Geographical Mapping 1.6. Country Wise Segregation 2. Research Methodology 2.1. Identification of Target Market 2.2. Data Acquisition 2.3. Refining of Data/ Data Transformations 2.4. Data Validation through Primary Techniques 2.5. Exploratory Data Analysis 2.6. Graphical Techniques/Analysis 2.7. Quantitative Techniques/Analysis 2.8. Visual Result/Presentation 3. Executive Summary 4. Market Insights 4.1. Economic Factor Analysis 4.1.1. Drivers 4.1.2. Trends 4.1.3. Opportunities 4.1.4. Challenges 4.2. Technological Landscape 4.3. Competitors & Product Analysis 4.4. Policy & Regulatory Framework 4.5. Company market share analysis, 2018 4.6. Porter's Five forces analysis 4.7. New Investment Analysis 4.8. PESTEL Analysis 5. Global Smart Home Market Overview 5.1. Market Size & Forecast, 2016-2027 5.1.1. By Value (USD Million) 5.2. Market Share & Forecast, 2016-2027 5.2.1. By Product 5.2.1.1. Lighting Control 5.2.1.2. Security & Access Control 5.2.1.3. HVAC 5.2.1.4. Entertainment 5.2.1.5. Smart Speaker 5.2.1.6. Home Healthcare 5.2.1.7. Smart Kitchen 5.2.1.8. Home Appliances 5.2.1.9. Smart Furniture 5.2.1.10. Others 5.2.2. By Deployment 5.2.2.1. Software 5.2.2.2. Services 5.2.3. By Region 5.2.3.1. North America 5.2.3.2. Europe 5.2.3.3. Asia Pacific 5.2.3.4. South America 5.2.3.5. Middle East & Africa 6. North America Smart Home Market Overview 6.1. North America Smart Home Market Size & Forecast, 2016-2027 6.1.1. By Value (USD Million) 6.2. North America Smart Home Market Share & Forecast, 2016-2027 6.2.1. By Product (Lighting Control, Security & Access Control, HVAC, Entertainment, Smart Speaker, Home Healthcare, Smart Kitchen, Home Appliances, and Smart Furniture and Others) 6.2.2. By Deployment ( Software and Services) 6.2.3. By Country 6.2.3.1. US 6.2.3.2. Canada 6.2.3.3. Mexico 6.2.4. Company Market Share (Top 3-5) 6.2.5. Economic Impact Study on North America Smart Home Market 7. Europe Smart Home Market Overview 7.1. Europe Smart Home Market Size & Forecast, 2016-2027 7.1.1. By Value (USD Million) 7.2. Europe Smart Home Market Share & Forecast, 2016-2027 7.2.1. By Product (Lighting Control, Security & Access Control, HVAC, Entertainment, Smart Speaker, Home Healthcare, Smart Kitchen, Home Appliances, and Smart Furniture and Others) 7.2.2. By Deployment ( Software and Services) 7.2.3. By Country 7.2.3.1. Germany 7.2.3.2. UK 7.2.3.3. France 7.2.3.4. Italy 7.2.3.5. Rest of Europe 7.2.4. Company Market Share (Top 3-5) 7.2.5. Economic Impact Study on Europe Smart Home Market 8. Asia Pacific Smart Home Market Overview 8.1. Asia Pacific Smart Home Market Size & Forecast, 2016-2027 8.1.1. By Value (USD Million) 8.2. Asia Pacific Smart Home Market Share & Forecast, 2016-2027 8.2.1. By Product (Lighting Control, Security & Access Control, HVAC, Entertainment, Smart Speaker, Home Healthcare, Smart Kitchen, Home Appliances, and Smart Furniture and Others) 8.2.2. By Deployment ( Software and Services) 8.2.3. By Country 8.2.3.1. China 8.2.3.2. India 8.2.3.3. Japan 8.2.3.4. Australia 8.2.3.5. Rest of Asia Pacific 8.2.4. Company Market Share (Top 3-5) 8.2.5. Economic Impact Study on Asia Pacific Smart Home Market 9. South America Smart Home Market Overview 9.1. South America Smart Home Market Size & Forecast, 2016-2027 9.1.1. By Value (USD Million) 9.2. South America Smart Home Market Share & Forecast, 2016-2027 9.2.1. By Product (Lighting Control, Security & Access Control, HVAC, Entertainment, Smart Speaker, Home Healthcare, Smart Kitchen, Home Appliances, and Smart Furniture and Others) 9.2.2. By Deployment ( Software and Services) 9.2.3. By Country 9.2.3.1. Brazil 9.2.3.2. Argentina 9.2.3.3. Rest of South America 9.2.4. Company Market Share (Top 3-5) 9.2.5. Economic Impact Study on South America Smart Home Market 10. Middle East & Africa Smart Home Market Overview 10.1. Middle East & Africa Smart Home Market Size & Forecast, 2016-2027 10.1.1. By Value (USD Million) 10.2. Middle East & Africa Smart Home Market Share & Forecast, 2016-2027 10.2.1. By Product (Lighting Control, Security & Access Control, HVAC, Entertainment, Smart Speaker, Home Healthcare, Smart Kitchen, Home Appliances, and Smart Furniture and Others) 10.2.2. By Deployment ( Software and Services) 10.2.3. By Country 10.2.3.1. Saudi Arabia 10.2.3.2. UAE 10.2.3.3. South Africa 10.2.3.4. Rest of Middle East & Africa 10.2.4. Company Market Share (Top 3-5) 10.2.5. Economic Impact Study on Middle East & Africa Smart Home Market 11. Competitor Analysis 11.1. Company Description 11.2. Financial Analysis 11.3. Key Products 11.4. Key Management Personnel 11.5. Contact Address 11.6. SWOT Analysis 11.7. Company Profile 11.7.1. ADT 11.7.2. Robert Bosch GmbH 11.7.3. ASSA ABLOY 11.7.4. ABB Ltd. 11.7.5. Ingersoll-Rand PLC 11.7.6. ABB 11.7.7. Legrand S.A. 11.7.8. GE 11.7.9. Comcast Corp. 11.7.10. Other Prominent Players
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