The global smart home market is projected to reach $119 billion by 2025, at a CAGR of 8% during 2020-2025. The growth of smart home market is driven by increasing awareness related to safety and security, increasing consumer need for simplicity and personalized experience, and the growing adoption of cloud-based technologies.
Some of the Key Questions answered in
this exclusive report are:
Q.1 What are some of the
most promising, high-growth opportunities for the smart home market by
application (safety and security, home appliance, entertainment control,
lighting, HVAC control, home healthcare, smart kitchen, and others), type
(product and service) by technology (wired and wireless), and 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 What are the
business risks and threats to the smart home market?
Q.4 What are some
changing demands of customers in the smart home market?
Q.5 What are the new
developments in the smart home market? Which companies are leading these
developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this smart home area and how big of a
threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this smart home market?
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.
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clicking on https://www.lucintel.com/smart-home-market-2020-2025.aspx
Market Segmentation:
Based on application, the smart home market is segmented into safety and
security, home appliance, kitchen appliance, entertainment control, lighting
control, HVAC control, and smart healthcare. The safety and security segment
accounted for the largest share of the market in 2020 and is expected to
register the highest CAGR during the forecast period, due to the increasing
need for continuous monitoring services to reduce the risk of crime, burglary,
and theft.
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.
Key Players in the smart
home market are Honeywell, Johnson & Johnson ADT Corporation, Control4
Corporation, United Technologies Corporation, Siemens AG, Philips, Acuity
Brands, and Vivint Inc.
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The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
To read more about this market please click on
https://www.lucintel.com/smart-home-market-2020-2025.aspx
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.
Brandon
Fitzgerald
Lucintel
Dallas,
Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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