Global Smart Home Market is Rising Exponentially at a Rate of 17.4% During the Anticipated Period of 2020 to 2027

Smart Home Market size is valued at USD 304,127.48 million by 2027 and is expected grow at a compound annual growth rate of 17.4% in the forecast period of 2020 to 2027 due to the increasing adoption of access control solutions due to increasing crime rates across the world is primarily driving the market growth rate. Beside this, the integration of lighting controllers with in-built data-connectivity technology as well as favorable government regulations to promote green buildings will produce lucrative opportunities for the growth of the smart home market.

Smart Home Market Scenario

According to Data Bridge Market Research the market for smart home is accelerating because of the growing number of internet users and growing adoption of smart devices. Also the, rising disposable income of people in developing economies and increasing need for energy-saving and low carbon emission-oriented solutions are also expected to fuel the demand of the smart home market over the forecast period of 2020 to 2027. Whereas, the high cost of switching for existing smart device consumers will obstruct the growth of the smart home market in the above mentioned forecast period.

Now the question is which are the other regions that smart home market is targeting? Data Bridge Market Research has estimated large growth in Asia-Pacific because of the high manufacturing capacity due to the technological capabilities within the region.

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Smart Home Market Development

  • In October 2020, Realme had launched a wide range of smart home products line, counting the soundbar, a SLED 4K TV and the Realme 7i. These launches will help the company to promptly expand its presence in the smart home and IoT space.

Smart Home Market Scope                  

Smart home market is segmented on the basis of countries into the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).

  • All country based analysis of smart home market is further analyzed based on maximum granularity into further segmentation. On the basis of product type, smart home market is segmented into lighting control, security and access control, HVAC control, entertainment controls, home healthcare, smart kitchen, home appliances, smart furniture, and others. On the basis of technology, the smart home market is segmented into wireless and wired. On the basis of software & service, the smart home market is segmented into behavioral and proactive.
  • Home automation or domestics is building automation for a home, and is known as a smart home or smart house. A home automation system helps to monitor or control home attributes such as climate, lighting, entertainment systems and appliances and also consist of home security such as access control and alarm systems.

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

  • Market Size
  • Market New Sales Volumes
  • Market Replacement Sales Volumes
  • Market Installed Base
  • Market By Brands
  • Market Procedure Volumes
  • Market Product Price Analysis
  • Market Cost of Care Analysis
  • Market Shares in Different Regions
  • Recent Developments for Market Competitors
  • Market Upcoming Applications
  • Market Innovators Study

Key Market Competitors Covered in the Report

  • Robert Bosch GmbH
  • Schneider Electric
  • Siemens
  • Haier Group
  • Google, LLC
  • General Electric
  • Resideo Technologies, Inc.
  • ABB
  • Emerson Electric Co
  • Johnson Controls
  • Carrier
  • Legrand
  • ADT
  • Vivint, Inc
  • Acuity Brands Lighting, 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 of Global Smart Home Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed 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.

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