Global Smart Home Market is Expected to Grow at CAGR of 17.4% in the Forecast Period of 2020 to 2027

Global Smart Home Market is forecasted to grow at 17.4% with factors such as increase in use of smartphones for controlling smart home appliances.

Smart home market has shown an exceptional penetration in countries such as the U.S., the U.K. and China. Increasing green buildings by governments. In developing countries, rising buying capacity is creating opportunity for the global smart home market.

Smart Home Market Scenario

According to Data Bridge Market Research the market for smart home in North America region has the highest market share followed Europe and Asia-Pacific. Market leader in the global smart home market is SAMSUNG which accounts an estimated market share of approximately 23.4% in the Asia-Pacific. The company has gained outstanding sale through their smart home products.

  • In January 2019, Samsung introduced its expanded vision of connected living with enhancement in connected and smart technology. The company has showcased its connected living innovations, embedded in its home appliance product line, at the International Consumer Electronics Show (CES).

Trends Impacting the Market

Now the question is which other regions SAMSUNG, Robert Bosch GmbH, General Electric Company (A SUBSIDIARY OF GENERAL ELECTRIC)., Siemens , Haier Group and Google are targeting? Data Bridge Market Research has forecasted a large growth in Asia-Pacific smart home market and the market leaders are targeting China, Japan and South Korea to be their next revenue pockets for 2020.

The smart home market is becoming more competitive every year with companies such as SAMSUNG, Robert Bosch GmbH, General Electric Company(A SUBSIDIARY OF GENERAL ELECTRIC)., Siemens , Haier Group and Google as they are the market leaders for smart home. The data bridge market research new reports highlight the major growth factors and opportunities in the smart home market.

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Smart Home Market Development

  • In August 2018, Samsung introduced its latest Smart Things Mesh Wi-Fi System, which offers AI-based network optimization along with built-in Smart Things Hub and sensors with sleek design and enhanced performance capabilities. This product launch helped the company to increase its product portfolio.

Scope of the Smart Home Market

Global smart home market is segmented on the basis of countries into the U.S., Canada and Mexico, Germany, U.K., France, Switzerland, Italy, Spain, Netherlands, Russia, Belgium, Turkey, Rest of Europe, Japan, China, India, Taiwan, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, UAE, Saudi Arabia, Israel, Egypt and Rest of Middle East & Africa.

  • All country based analysis of smart home market is further analyzed based on further segmentation. On the basis of product type, the market is segmented into entertainment controls, security and access control, HVAC control, home appliances, smart kitchen, lighting control, smart furniture, home healthcare and others. On the basis of technology, the market is segmented into wireless and wired. On the basis of software & service, the market is segmented into behavioral and proactive.
  • Smart home is nothing but connectivity offered for the home devices, appliances and other to improve the control and operations. The enhanced security and access control is getting offered by the smart home system for customers through internet and can be achieved through any place or location of world. Increasing IoT based devices and rising internet services like high speed broadband, Wi-Fi, 5G network and others are augmenting the market growth. An ease of home operation with better security, accessibility, performance and convenience are major benefits offered by the market which is increasing its demand and popularity among customers.

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Key Pointers Covered in Smart Home Market Industry Trends and Forecast to 2027

  • Market Size
  • Market Standards and Changes
  • Market Trials in Different Regions
  • Market Requirements in Different Regions
  • Market Shares in Different Regions
  • Recent Developments for Market Competitors
  • Recent Market Value for Different regions
  • Sales Data for Market Competitors
  • Key Vendors and Disruptors Study

Key Market Competitors Covered in the Report

  • Robert Bosch GmbH
  • Schneider Electric
  • Siemens
  • Haier Group
  • Google (A Subsidiary of Alphabet Inc.)
  • GENERAL ELECTRIC COMPANY (A Subsidiary of General Electric)
  • Resideo Technologies, Inc
  • ABB
  • Emerson Electric Co.
  • Johnson Controls.
  • Carrier
  • Legrand
  • ADT
  • Vivint, Inc.
  • The Chamberlain Group, Inc.
  • Brinks Home Security
  • Sleep Number Corporation
  • Leviton Manufacturing Co., Inc.
  • Crestron Electronics, Inc.
  • Hanwha Techwin America.
  • Switchmate
  • Lifi Labs, Inc.
  • Kuna Systems
  • Lutron Electronics Co., Inc
  • Nice S.p.A.

Above are the key players covered in the report, to know about more and exhaustive list of smart home companies, contact us

Research Methodology: Global Smart Home Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Primary Respondents

  • Demand Side: Product Managers, Smartphone Manufacturers, Camera Manufacturers
  • Supply Side: Service Providers, Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.

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