According to
a new market report published by Lucintel, the future of the smart home market
looks attractive with opportunities in the home safety and security, appliance,
entertainment, lighting, HVAC, healthcare, and kitchen applications. The global
smart home market is expected to reach an estimated $107.4 billion by 2023 with
a CAGR of 9.5% from 2018 to 2023. The major growth drivers for this market are increasing
awareness related to safety and security, increasing consumer need for
simplicity and personalized experience, and the growing adoption of cloud-based
technologies.
In this market, safety and security, home
appliance, kitchen appliance, entertainment control, lighting control, HVAC
control, and smart healthcare are the major applications. Lucintel forecasts
that the safety and security market is expected to remain the largest segment
due to the increasing need for continuous monitoring services to reduce the
risk of crime, burglary, and theft. The entertainment segment is expected to
experience the highest growth rate during the forecast period, supported by the
increasing need of advanced technology that can provide a single platform for
high level of control, flexibility, and deliver the best entertainment
experience.
Within the smart home market, the wireless
segment is expected to remain the largest technology. It is also expected to
witness the highest growth over the forecast period due to the increasing
demand for Zigbee in healthcare, safety and security applications to support
remote monitoring facilities, and consumer comfort and convenience enhancement.
Asia Pacific is expected to be the largest
region with the highest growth over the forecast period due to the increasing
adoption of cloud based technologies and increasing awareness related to safety
and security. Increasing population, urbanization, rising standard of living,
and increasing government expenditure on smart cities will further spur the
growth in this region.
Emerging trends, which have a direct impact on
the dynamics of the industry, include development of voice assistant technology
for high-end automated households, emergence of air quality sensor devices that
measure volatile organic compounds (VOCs), and growing adoption of video enabled
drones. Honeywell, Johnson & Johnson ADT Corporation, Control4 Corporation,
United Technologies Corporation, Siemens AG, Philips, Acuity Brands, and Vivint
Inc. are among the major smart home providers.
Lucintel, a leading global strategic
consulting and market research firm, has analyzed the global smart home market by application, product
and service type, technology, and region and has come up with a comprehensive
research report entitled “Growth
Opportunities in the Global Smart Home Market 2018-2023: Trends, Forecast, and
Opportunity Analysis.” The
Lucintel report serves as a catalyst for growth strategy as it provides a
comprehensive data and analysis on trends, key drivers, and directions. The
study includes a forecast for the global smart home market by application,
product and service, technology, and region as follows:
By Application [$M shipment analysis from 2012 to 2023]:
·
Safety and Security
·
Home Appliance
·
Entertainment
·
Lighting
·
HVAC
·
Home Healthcare
·
Smart Kitchen
·
Others
By Product
and Service Type [$M shipment
analysis from 2012 to 2023]:
·
Product
·
Service
By Technology
Type [$M shipment analysis from 2012 to 2023]:
·
Protocols & Standards
– BACnet
– Lonworks
– DALI
– Modbus
– KNX
– Others
·
Wireless
– Zigbee
– Wi-Fi
– Bluetooth
– EnOcean
– Z-Wave
– Others
By Region [$M shipment analysis for 2012 – 2023]:
·
North America
– United
States
– Canada
– Mexico
·
Europe
– United
Kingdom
– Germany
– France
·
Asia Pacific
– Japan
– China
– South
Korea
– India
·
The Rest of the World
This
169-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include
Telecommunication
Report, Telecommunication
Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Matrix.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for
the global smart home market by application (safety and security, home
appliance, entertainment control, lighting, HVAC control, home healthcare,
smart kitchen, and others), by type (product and service) by technology
(protocols & standards and wireless), and by region (North
America, Europe, Asia Pacific, and the Rest of the World)?
Q.
2 Which segments will grow at a faster pace and why?
Q.3
Which regions will grow at a faster pace and why?
Q.4
What are the key factors affecting market dynamics? What are the drivers and
challenges of the market?
Q.5
What are the business risks and threats to the market?
Q.6
What are the emerging trends in this market and reasons behind them?
Q.7
What are some changing demands of customers in the market?
Q.8
What are the new developments in the market? Which companies are leading these
developments?
Q.9
Who are the major players in this market? What strategic initiatives are being
implemented by key players for business growth?
Q.10
What are some of the competitive products and processes in this area and how
big of a threat do they pose for loss of market share via product substitution?
Q.11
What M&A activity has occurred in the
last 5 years?
No comments:
Post a Comment