Smart homes are incorporated with advanced automated systems that control lighting, temperature, multi-media, security, thermostats, entertainment systems, window and door operations that can be controlled by the user through smartphones and computers. The appliances used in the smart home are connected through the internet which allows the user to control and monitor the home appliances remotely using a mobile or other network connected device. Use of the Internet of Things (IoT) in smart homes encourage manufacturers to promote automation in the household sector. Smart homes systems are often featured as wireless and wired. Wireless systems are easy to install, are cost efficient and are portable, whereas wired systems need professional installer, are expensive and are difficult to move.
Affordable technology, the threat of climate change, fluctuating electricity prices, safety & security and the growing adoption of cloud-based technologies and IoT are the major factor responsible for driving smart home market. Apart from the technology, smart homes help to reduce energy consumption, as consumers can decrease the energy usage through temperature settings. The manufacturers of smart homes have realized the adaptation of new ways to produce, deliver, and consume energy owing to the threat of climate change, fluctuating energy prices and energy security and supply concerns. However, security risk and bugs are the main challenges faced by smart home technology.
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/974
Major Key players
- United Technologies Corporation (U.S.),
- General Electric Company (U.S.),
- Schneider Electric (France),
- Honeywell International, Inc. (U.S.),
- Ingersoll-Rand PLC (Ireland),
- Johnson Controls, Inc. (U.S.),
- ABB Ltd. (Switzerland),
- Legrand S.A. (France),
- Samsung Electronics Co., Ltd. (South Korea)
- Siemens AG (Germany),
Other players in the market include Acuity Brands, Inc. (U.S.), Lutron Electronics Co. Inc. (U.S.), and Leviton Manufacturing Company, Inc. (U.S.).
First Alert, a safety brand company announced the expansion of its OneLink line of smart home devices. The new updated smart home solutions line has been included with an updated version of the safe & Sound, a new whole-home Wi-Fi mesh system, and a smart video doorbell.
Tuya Smart has introduced new smart home security that is capable of recognizing each member of a family by face alone. The new system is artificial intelligence enabled that uses facial recognition technology to identify a member using just a photograph.
The Market of Smart Home appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms. Ecobee and Sun power has announced about its new program where both the companies are teaming up to provide help to consumers in taking control of their electricity cost.
The rising government funding towards smart cities is also expected to motivate key companies to invent new Smart Home modules that match the changing trends and needs across the globe. These players possess state of art R&D labs and strong sales and distribution network which have helped them to gain leadership position in the market.
The global smart home market has been segmented based on components, application, and technology.
By components, the global smart home market has been segmented into software and services. The software segment has been further segmented into behavioral and proactive. The services segment has been further segmented into managed & professional service.
By application, the global smart home market has been segmented into lighting control, security & access control, HVAC control, entertainment & other control, home healthcare, smart kitchen, and home appliances.
The lighting control segment has been further segmented into relays, occupancy sensors, daylight sensors, timers, dimmers, switches, accessories, and other products.
The security & access control segment has been further segmented into video surveillance and access control. The video surveillance sub-segment has been further segmented into hardware, software, and services.
The entertainment & other control segment has been further segmented into entertainment controls and other controls. The entertainment control sub-segment has been further segmented into audio, volume, & multimedia room controls, home theater system controls, and touchscreens and keypads.
By technology, the global smart home market has been segmented into networks, protocols, and wireless. The network segment has been further segmented into CDMA networks, GSM/HSPA networks, LTE networks. The protocols segment has been further segmented into Digital Addressable Lighting Interface (DALI), KNX, Digital Multiplexer (DMX), Ethernet and others. The wireless segment has been further segmented into ZigBee, z-wave, Wi-Fi, Bluetooth and others.
By region, the smart home market has been segmented into Europe, Asia Pacific (APAC), North America, and the Rest of the World (RoW). North America is the largest market for smart home. The region is a frontrunner in technological superiority and adoption which boost the market growth. In addition, the presence of major players in the region coupled with increased affordability due to high disposable income adds fuel to the growth of the market. Asia Pacific is expected to exhibit rapid growth rate over the forecast period due to the adoption of cloud technologies, increase awareness regarding smart home solutions, elevating standard of living and increasing smart home initiatives by governments in the region.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/smart-home-market-974
- Raw material and manufacturing equipment suppliers
- Automation & control vendors
- Automation & control networking technology vendors
- Real estate builders
- System integrators
- Project consultants
- Designers/consultants (HVAC, security, and fire & safety)
- Component manufacturers (sensors & controls)
- Home management system (products & servers) providers
- Smart Homes related associations, organizations, forums, and alliances
- Government bodies associated with green buildings
- Investors and consultants
- Research/Consultancy Firms
LIST OF TABLES
Table 1 Global Smart Home Market, by Region, 2017–2023
Table 2 North America: Smart Home Market, by Country, 2017–2023
Table 3 Europe: Smart Home Market, by Country, 2017–2023
Table 4 Asia Pacific: Smart Home Market, by Country, 2017–2023
Table 5 The Middle East & Africa: Smart Home Market, by Country, 2017–2023
Table 6 Latin America: Smart Home Market, by Country, 2017–2023
LIST OF FIGURES
FIGURE 1 Global Smart Home Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of Global Smart Home Market
FIGURE 4 Value Chain of Global Smart Home Market
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar