Global Smart Home Market is expected to grow with the CAGR of 17.4% in the forecast period of 2020 to 2027. The years considered for study are as mentioned below.

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Global smart home market is a highly consolidated market, which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in global smart home market are introducing strong range of product portfolio. This has helped the companies to maximize the sales with enhanced product portfolio. For instance, in November 2019, Nice SPA announced the launch of new its product Spy as an automated motor for garage door. Spy is an automated motor for garage door which is easy to control and operate. The garage door is also equipped with obstacle detection function which stops the motor of the garage as soon an obstacle is sensed. This increases the product portfolio of the company.

SAMSUNG is the dominating player in the global smart home market. The other key players existing in the market includes 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., 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 and Nice S.p.A.., among others.

SAMSUNG

SAMSUNG is headquartered in Seoul, South Korea and was established in year 1969. The company focuses on providing consumer electronics, information technology and mobile communications, and device solutions businesses. The company operates in harman, IM, semiconductor, CE and DP segments out of which CE is the market focused segment. The company offers wide range of product categories such as mobile, TV & home theatre, computing, appliances & smart home in which appliances & smart home is the market focused category.

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

The company has wide global presence across Europe, Middle East, Africa, Asia, Oceania, North America with its various subsidiaries such as Samsung C&T Corporation (Korea), Samsung Electronics Mexico (Mexico), Dacor Canada (Canada), Harman France SNC (France) and Samsung R&D Institute Japan (Japan), among others.

Robert Bosch GmbH

Robert Bosch GmbH is headquartered in Stuttgart, Germany and was founded in 1886. The company is engaged in technology and services for smart homes, smart cities, connected mobility, and connected manufacturing. The company operates in mobility solutions, industrial technology, consumer goods, energy and building technology out of which energy and building technology is the market focused segment. The company offers product categories which are mobility, at home, industry and trades, connected products, services, and solutions, market-specific solutions out of which connected products, services, and solutions are the market focused category.

• In May 2016, Robert Bosch GmbH launched smart sensors for smart home applications. The smart sensors are used to support the smart devices and work according to the conditions. The smart sensors increased the customer base of the company.

The company has wide global presence across Africa, America, Central, North America, South America, Asia, Australia / Oceania, Europe, Middle East and generates revenue from subsidiaries such as BSH Hausgeräte (Germany), Dremel (U.S), Bosch Rexroth (Germany), Bosch Sicherheitssysteme (U.S) and Bosch Thermotechnik (Germany), among others.

General Electric Company (A Subsidiary of General Electric)

General Electric Company (A Subsidiary of General Electric) headquartered in Massachusetts, U.S. and was founded in 1892. The company focuses on manufacturing lighting products for industrial and commercial purposes. The company provides LED+, Grow, HD LED, Vintage and C by GE Smart Home, out of which C by GE smart home is the market focused product category.

• In January 2019, General Electric Company launched new platforms in its C by GE portfolio. The company added full color lights, smart wall switches, and accessories, to help consumers realize more benefits across the home. This helped the company to expand their product portfolio and increase customer base.

The company has presence in the U.S. and Canada.