North America Smart Home Market By Product Type (Entertainment Controls, Security and Access Control, HVAC Control, Home Appliances, Smart Kitchen, Lighting Control, Smart Furniture, Home Healthcare and Others), Technology (Wireless, Wired), Software & Service (Behavioral, Proactive), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2027
Market Analysis and Insights: North America Smart Home Market
Smart home market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing at a CAGR of 17.7% in the forecast period of 2020 to 2027 and expected to reach USD 111,470.78 million by 2027. The enhancing lifestyle in the North America and focus towards smart devices are major factors for the market growth.
The strong economy and increased spending on smart products from the U.S. based customers is one of the major factors behind the strong growth of smart home market. The companies are expanding their reach as well as offering for the customers which further supplementing the market growth.
This Smart Home Market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
North America Smart Home Market Scope and Market Size
North America smart home market is segmented on the basis of product type, technology, and software and services. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product type, North America smart home market is segmented into entertainment controls, security and access control, HVAC control, home appliances, smart kitchen, lighting control, smart furniture, home healthcare and others. The entertainment controls are dominating the market owing to improved control offered by the products for customers. New development in the audio and video products makes the control more convenient for the customers to refresh their frame of mind is increasing its adoption. In addition, smart entertainment is became new factor to define the living standards of the customers which further creates it demand in the market.
- On the basis of technology, North America smart home market is segmented into wired and wireless technology. Wireless technology is dominating the market owing to the strong connectivity and convenience offered the solution for long distance range is accelerating the market growth. In addition, the rising number of IoT based devices and enhanced smartphone connectivity with home appliances is helping the segment to dominate the market.
- On the basis of software and services, North America smart home market is segmented into behavioural and proactive. The companies are offering the wide range of behavioural products rather than proactive as it’s still in introductory phase and contains high price tag than behavioural solution. The smart home solution is itself require high cost of installation than traditional solution while proactive further increase its price in current scenario, hence it getting less preference than behavioural but continuous development and acceptance from the customer as premium category solution will help the segment grow with strong CAGR in forecasted period.
Smart Home Market Country Level Analysis
North America smart home market is analysed and market size information is provided by product type, technology and software and services. The countries covered in the North America Smart home market report are U.S., Canada and Mexico.
U.S. country is dominating the North America smart home market due to supporting infrastructure and strong product offering owing to strong manufactures base. North America smart home market is growing due to the increasing adoption of IoT based home devices and supporting strong connectivity solution.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Smart Home
North America smart home market also provides you with detailed market analysis for every country growth in installed base of different kind of products for Smart home market, impact of technology using life line curves and changes regulatory scenarios and their impact on the Smart home market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Smart Home Market Share Analysis
North America smart home market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to North America Smart home market.
The major players covered in the report are SAMSUNG, 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. and Kuna Systems among others among other domestic and global players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
- In January 2020, Samsung’s made announcement of the new smart home solution based product a new smart speaker will be introduced to the market. The new smart speaker Samsung’s Galaxy Home Mini is getting introduced for the market which will further increase company market share in North America
- In August 2019, Ikea company expanded their presence in smart home market by forming new dedicated platform for smart home product development. Company also made announcement of smart blinds unit dedicated for the U.S. market only. The company expanded their customer base by offering new technological solution.
Such strategies like partnership, expansion, new product launch and other are helping the market players to increase the sale and market share in North America smart home market.
Customization Available: North America Smart Home Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.