Smart Home Market by Product (Smart Speakers, Smart Lighting, and Smart Home Security), Standards & Protocols (Bluetooth, Wi-Fi, and ZigBee), and Geography – Global Forecasto 2025
A smart home is a suitable home system where appliances and devices can be remotely controlled from any internet-connected place in the world using a smartphone or any other networked devices. Global smart home market is expected to grow at a CAGR of 16.5% from 2019 to reach $144 billion by 2025.
Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, challenges, and opportunities. The growth of the smart home is driven by several factors, such as rising number of internet users, increasing adoption of smart devices, rising sense of safety and remote monitoring, consistent proliferation of internet of things, rising need of energy efficiency, and rapid proliferation of smartphone and smart gadgets. However, consumer hesitance in technology acceptance; and issues related to breach in security and privacy are the major factors hindering the market growth.
Security & monitoring system segment is estimated to command the largest share of the global smart home market in 2019 and expected to witness high growth during the forecast period, mainly due to rising sense of security and safety for remote monitoring of domestic facilities among consumers across the globe.
An in-depth analysis of the geographical scenario of the market provides detailed qualitative and quantitative insights about the five regions including North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2019, North America region is estimated to command the largest share of the global smart home market followed by Europe and Asia Pacific. The large share of this region is mainly attributed to its open-minded approach towards smart technologies and presence of majority of established smart home players and start-ups.
Key players operating in global smart home market are Google LLC (U.S.), Amazon (U.S.), Samsung (South Korea), Apple, Inc. (U.S.), Siemens AG (German), United Technologies Corporation (U.S.), Honeywell International Inc. (U.S.), Johnson Controls International plc (U.S.), Schneider Electric SE (France), LG Electronics Inc. (South Korea), Robert Bosch GmbH (Germany), ABB Ltd. (Switzerland), ASSA ABLOY (Sweden), General Electric Company (U.S.), Legrand S.A. (France), and Sony Corporation (Japan), among others..
Scope of the Report:
Market by Product
Smart Lighting Systems
Security & Monitoring Systems
Smart Locks and Access Controls
Smart Entertainment Systems
Smart Home Appliances
Smart Washing Machines
Smart Water Heaters
Robotic Vacuum Cleaners
Smart Kitchen Appliances
Smart Coffee Makers
Smart Home Healthcare Systems
Sofas & Recliners
Smart Tables & Desks
Market by Standards & Protocols
Market by Geography:
Rest of Europe
Rest of Asia-Pacific
Middle East & Africa
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