The global smart home market is
segmented into application and region. Further, application segment is sub
segmented into lighting control, security and access control, HVAC control,
entertainment & other control, home health care, smart kitchen solutions
and home appliances. Over the past few years, it has been observed that the
entertainment & other control segment are dominating the global smart home
market. Further, the home health care segment by application is expected to be
the fastest growing segment during the forecast period.
Global smart home market is
anticipated to expand at compound annual growth rate (CAGR) of 15.1% during the
forecast period. Additionally, global smart home market is expected to reach at
a valuation about USD 130.1 Billion by the end of 2024. Growing urbanization
and increasing penetration of Internet of Things are key factors which are
likely to bolster the growth of global smart home market over
the forecast period.
Home appliances segment by application
is also expected to show considerable growth during the forecast period.
Accessibility of affordable smart home appliances, rising disposable income and
consumer’s inclination towards luxurious life style are some of the major
factors which are likely to fuel the demand for smart home appliances during
the forecast period.
Cost & energy saving concerns
Rising cost of electricity and
growing concern regarding energy saving are propelling the growth of global
smart home market. Further, a number of appliances in homes such as refrigerator,
water heater, air conditioners, lighting fixtures and entertainment systems
consume high amount of electricity which is a major concern to the households. Smart
homes are key solution to the anxiety of high energy consumption owing to smart
home appliances which consume comparatively less energy.
Change in lifestyle of consumers
The global smart home market
is poised to display substantial growth in near future owing to increasing
disposable income of the consumers, growing affordability and changing life
style of the population. Growing consumer’s spending on smart devices coupled with
growing technological advancements with home appliances is a key factor which
is envisioned to drive the global market of smart homes in future.
Limited consumer demand and long
replacement cycle of smart home appliances are major factors which are likely
to dampen the growth of global smart home market.
The
report titled “Smart Home Market: Global Demand
Analysis & Opportunity Outlook 2024”
delivers
detailed overview of the global smart home market in terms of market segmentation
by application and by region.
Further,
for the in-depth analysis, the report encompasses the industry growth drivers,
restraints, supply and demand risk, market attractiveness, BPS analysis and
Porter’s five force model.
Request Table of Contents Here: https://www.researchnester.com/toc-request/1/rep-id-403
This report also provides the
existing competitive scenario of some of the key players of the global smart
home market which includes company profiling of Siemen
AG, United Technology Inc., General Electric Company, Schneider Electric,
Honeywell International Inc., Ingersoll-rand PLC, Lutrons Electronics Co. Inc.,
Samsung Electronics Co. Ltd., Acuity Brends Inc., ABB Ltd., Johnson Controls
Inc. The profiling enfolds key information of the companies which
encompasses business overview, products and services, key financials and recent
news and developments. On the whole, the report depicts detailed overview of
the global smart home market that will help industry consultants, equipment
manufacturers, existing players searching for expansion opportunities, new
players searching possibilities and other stakeholders to align their market
centric strategies according to the ongoing and expected trends in the future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Contact for more Info:
Ajay
Daniel
U.S.
+1 646 586 9123
U.K.
+44 203 608 5919
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