Market Analysis: Global Smart Home Market
The global smart home market is expected to reach USD 55.7 billion by 2025, from USD 25.3 billion in 2017 growing at a CAGR of 16.8% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2018 to 2025.
Market Definition: Global Smart Home Market
This market report defines the market trends and forecast the upcoming opportunities and threats of the smart home market in the next 8 years. A smart home is incorporated with advanced automated systems and technology so that individual can distantly govern and mechanize household appliances. It is more than just remote controls and fancy gadgets, smart home controls lighting, temperature, multi-media, security, thermostats, entertainment systems, window and door operations. Smart home integrates multiple sub-systems which are all controlled by a master home automation controller. Apart from the technology, smart homes help to reduce energy consumption at the same time. Various developments takes place in the field of smart home market for instance in January 2018 GRDF company launched the smart gas meters, the world’s biggest roll-out motorized by Oracle which serves 90% of the French gas market by delivering smart metering services to 11 million customers.
Major Market Drivers:
- Increasing demand for energy-efficient lighting solutions
- Crime leads to force home owners to increase security
- Ease of using HVAC systems
- Increasing alertness about health and disposable incomes in developing economies
- Lack of alertness about the benefits of lighting controls
- Interoperability and standardization are the major problem for HVAC systems
Market Segmentation: Global Smart Home Market
- The global smart home market is segmented into application, software & service and by geography.
- Based on application, the global smart home market is classified into lighting control, security and access control, HVAC control, entertainment and other controls, home healthcare, smart kitchen and home appliances. Lighting control is segmented into relays, occupancy sensors, daylight sensors, timers, dimmers, switches and accessories and other products. Security and access control is segmented into video surveillance and access control. Video surveillance is sub segmented into hardware, software and services. Hardware is further sub segmented into security cameras, storage devices, monitors, accessories. Access control is segmented into biometric access control and non-biometric access control. Biometric access control is further sub segmented into facial recognition, iris recognition, fingerprint recognition and others. HVAC control is segmented into smart thermostats, sensors, and control valves, heating and cooling coils, dampers, actuators, pumps & fans and smart vents. Entertainment is segmented into audio, volume, & multimedia room controls, home theatre system controls, touchscreens and keypads and other controls are segmented into smart meters, smart plugs, smart hubs, smart locks, smoke detectors. Home healthcare is segmented into health status monitors and physical activity monitors. Smart kitchen is segmented into smart refrigerators, smart coffee makers, smart kettles, smart dishwashers, smart ovens, smart cooktops, and smart cookers. Home appliances are segmented into smart washers, smart dryers, smart water heaters and smart vacuum cleaners.
- On the basis of software & service, the global smart home market is segmented into Behavioural and Proactive.
- Based on geography, the global smart home market report covers data points for 28 countries across multiple geographies namely north America & south America, Europe, Asia-pacific and, middle east & Africa. Some of the major countries covered in this report are the U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others. In 2017, North America is expected to dominate the market.
Competitive Analysis: Global Smart Home Market
The global smart home market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of smart home market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Smart Home Market
Some of the major players operating in the global smart home market are Siemens AG, GENERAL ELECTRIC, Schneider Electric, Honeywell International Inc., Ingersoll-Rand plc, Johnson Controls, ABB, Legrand., SAMSUNG, Acuity Brands Lighting, Inc., Lutron Electronics Co., Inc, Leviton Manufacturing Co., Inc. , Vivint, Inc. , Sleep Number Corporation , Switchmate Home LLC ,Lifi Labs Inc., Emerson Electric Co. , LG Electronics., UNITED TECHNOLOGIES, Crestron Electronics, Inc. among others.
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 inquiry.
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