According to MarkNtel Advisors’ research report titled “Global Smart Home Market Analysis, 2020”, the Global Smart Home market is anticipated to grow at a CAGR of around 10.1% during 2020-25F. Based on Product, Entertainment Control is expected to grow at a highest CAGR by 2025 in the Global Smart Home market.
The increasing adoption for home theater system control, burgeoning advancement in wireless communication technologies, and rising inclination toward numerous smart entertainment devices like smart TVs, smart home theatres, and gadgets such as Amazon Echo. However, security and access control are projected to grow at a steady rate due to rising consumer preference toward video doorbells, voice-assisted technologies, and surveillance systems along with burgeoning integration of IoT technology in security systems for remote monitoring of houses.
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Key questions answered in the study
- What are the current and future trends of the Smart Home industry?
- How the industry has been evolving in terms of end-user demand and application areas?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the Smart Home industry?
- What is the customer orientation, purchase behavior, and expectations from the Smart Home firms across various regions?
“Global Smart Home Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Smart Home providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor’s capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
North America Acquired Majority Market Share
North America acquired majority market share in the Global Smart Home market in 2019. US dominated the North America market on account of robust urbanization, burgeoning investment in smart city projects, coupled with upgradation in the standards of living of people, and introduction of innovative wireless technologies in HVAC Controllers, security and access control and entertainment controls. Besides these, snowballing demand for vital communication technologies, strong foothold of giant market players, and burgeoning demand for smart & connected homes and home automation systems are anticipated to fuel the growth of Asia-Pacific Smart Home market in the forthcoming years as stated in MarkNtel Advisors’ research report “Global Smart Home Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Global Smart Home market include Samsung, Philips, Honeywell, ADT, Emerson, Electrolux, Siemens, ABB, Schneider Electric, Cisco, Microsoft, General Electric, Lutron etc.
- By Product (Lighting Control, Security and Access Control, HVAC Control, Entertainment Control, Smart Kitchen, Others (Home Healthcare, Energy Management, etc.))
- By Technology (Ethernet, Bluetooth, WI-FI, Zigbee, Infrared, RFID, Z-Wave, Others (Thread, KNX etc.))
- By Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
- By Country (US, Canada, Mexico, Brazil, Argentina, UK, Germany, France, China, Japan, India, Australia, UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman, South Africa),
- By Company (Samsung, Philips, Honeywell, ADT, Emerson, Electrolux, Siemens, ABB, Schneider Electric, Cisco, Microsoft, General Electric, Lutron)