Smart Homes Market cover

Smart Homes Market by Applications (Lighting, Entertainment, Security, Energy Management, and HVAC) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: CG-3391
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 8
  • No. Of Pages: 194
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  • Pub. Date: Upcoming
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The global smart homes market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to increasing consumer interest towards optimum resource utilization and energy efficiency.

Smart Homes Market summary

The smart home can be described as home automation, which involves the usage of internet-connected devices to monitor and manage several home appliances and systems. It is a cutting-edge technology that makes the functioning of a variety of home appliances more convenient and energy efficient. This in further employing wireless technology to control all of the electronic equipment in the home. It provides end-users with comfort, energy efficiency, security, and convenience by allowing them to operate all electronic appliances via a smart home app on their smartphones or other networked devices.

The outbreak of COVID-19 pandemic had a negative influence on the market. Manufacturing and supply chain units have had to suspend output as a result of the global lockdown enforced by governments, which is likely to impede the demand for smart homes. The market is expected to quickly recover, since various industries have restarted operations as COVID-19 instances have gradually reduced around the world.

Market Trends, Drivers, Restraints, and Opportunities

  • Growing importance related to home-security by owners is one of the key factors driving the market growth.
  • Rising innovative wireless technology including security, access regulators, and entertainment controls is expected to boost the market growth in the coming years.
  • Lack of skilled labor to perform the applications and services is projected to hinder the market expansion during the forecast period.
  • Lack of standardization along with high installation costs presents a major challenge. This is anticipated to hamper the market growth in the projected period.
  • Increasing importance of consumer durables and electronics is projected to create significant growth opportunities for the market in the near future.

Scope of the Report

The report on the global smart homes market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Smart Homes Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Applications (Lighting, Entertainment, Security, Energy Management, and HVAC)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Control4 Corp.; Emerson Electric Co.; Honeywell International Inc.; ABB Ltd.; Lutron Electronics Co.; Tyco International plc; Legrand S.A.; Siemens AG; Schneider Electric SE; and Crestron Electronics, Inc.

Market Segment Insights

Security segment to grow at a rapid pace

Based on applications, the global smart homes market is divided into lighting, entertainment, security, energy management, and HVAC. The security segment is expected to grow at a rapid pace during the forecast period owing to the growing requirement for energy-efficient solutions across the sector. However, the entertainment segment is anticipated to hold a key share of the market in the coming years due to the flexibility it offers, such as to control distantly media, audio, and video access devices.

Smart Homes Market application

North America to constitute a key market share

In terms of regions, the global smart homes market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period attributed to the increasing product adoption across the region. However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period owing to the growing demand for new technological advancements and rising consumer awareness in the region.

Smart Homes Market region

Segments

Segments Covered in the Report

The global smart homes market has been segmented on the basis of

Applications

  • Lighting
  • Entertainment
  • Security
  • Energy Management
  • HVAC

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Control4 Corp.
  • Emerson Electric Co.
  • Honeywell International Inc.
  • ABB Ltd.
  • Lutron Electronics Co.
  • Tyco International plc
  • Legrand S.A.
  • Siemens AG
  • Schneider Electric SE
  • Crestron Electronics, Inc.

Competitive Landscape

Key players competing in the global smart homes market are Control4 Corp.; Emerson Electric Co.; Honeywell International Inc.; ABB Ltd.; Lutron Electronics Co.; Tyco International plc; Legrand S.A.; Siemens AG; Schneider Electric SE; and Crestron Electronics, Inc. As part of their efforts to expand their client base and acquire a competitive advantage over competitors, manufacturers operating in the market have adopted various strategic initiatives, such as partnerships, collaborations, and mergers & acquisitions. Moreover, companies are focusing on investment in R&D for development and launching of new products to maintain their competitive positions in the market.

Smart Homes Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. smart homes market Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. smart homes market Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. smart homes market Market - Supply Chain
  4.5. Global smart homes market Market Forecast
     4.5.1. smart homes market Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. smart homes market Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. smart homes market Market Absolute $ Opportunity
5. Global smart homes market Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. smart homes market Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global smart homes market Demand Share Forecast, 2019-2026
6. North America smart homes market Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America smart homes market Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America smart homes market Demand Share Forecast, 2019-2026
7. Latin America smart homes market Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America smart homes market Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America smart homes market Demand Share Forecast, 2019-2026
8. Europe smart homes market Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe smart homes market Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe smart homes market Demand Share Forecast, 2019-2026
9. Asia Pacific smart homes market Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific smart homes market Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific smart homes market Demand Share Forecast, 2019-2026
10. Middle East & Africa smart homes market Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa smart homes market Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa smart homes market Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global smart homes market Market: Market Share Analysis
  11.2. smart homes market Distributors and Customers
  11.3. smart homes market Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Control4 Corp.
     11.4.2. Emerson Electric Co.
     11.4.3. Honeywell International Inc.
     11.4.4. ABB Ltd.
     11.4.5. Lutron Electronics Co.
     11.4.6. Tyco International plc
     11.4.7. Legrand S.A.

Segments Covered in the Report

The global smart homes market has been segmented on the basis of

Applications

  • Lighting
  • Entertainment
  • Security
  • Energy Management
  • HVAC

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Control4 Corp.
  • Emerson Electric Co.
  • Honeywell International Inc.
  • ABB Ltd.
  • Lutron Electronics Co.
  • Tyco International plc
  • Legrand S.A.
  • Siemens AG
  • Schneider Electric SE
  • Crestron Electronics, Inc.

Key players competing in the global smart homes market are Control4 Corp.; Emerson Electric Co.; Honeywell International Inc.; ABB Ltd.; Lutron Electronics Co.; Tyco International plc; Legrand S.A.; Siemens AG; Schneider Electric SE; and Crestron Electronics, Inc. As part of their efforts to expand their client base and acquire a competitive advantage over competitors, manufacturers operating in the market have adopted various strategic initiatives, such as partnerships, collaborations, and mergers & acquisitions. Moreover, companies are focusing on investment in R&D for development and launching of new products to maintain their competitive positions in the market.

Smart Homes Market keyplayers

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