According to the Report “Smart Homes Market: By System Type (Security Systems, HVAC, Lighting Control Systems, Entertainment); By Standards & Protocols (DALI, KNX, Wi-Fi, Zigbee, Enocean), By Application – Forecast (2019–2025),” published by IndustryARC, the global smart homes market is estimated to reach $178.4 billion by 2025.
Browse 87 Market Tables and 35 Figures spread across 188 Pages and an in-depth TOC on “Smart Homes Market”
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According to a recent study by IndustryARC, the Smart Homes market is forecast to reach $178.4 billion by 2025, growing at a CAGR of 13.4%. The growth of the smart homes market can be attributed to the development of sustainable and innovative products to simplify the home environments.
The market for smart homes is all set to exhibit robust growth with a broad range of applications introduced in Home Appliances, Safety and Security, Lighting, and Entertainment. The technological development in smart home technology, are set to bring various opportunities to the hardware & software companies which in turn increase the safety and security of homes. Increasing adoption of smart speakers, furniture, kitchen, and HVAC controlling solutions will be the driving factors for the growth of the smart homes market. The growing emphasis on the use of behavioral type software such as cloud-based monitoring system to analyze the energy-related data in homes will significantly contribute to the increasing demand for machine-to-machine connectivity solutions, and ultimately drive the growth of the smart homes market. The rapid proliferation of smart gadgets and smartphones will open up excellent opportunities for the market.
Asia-Pacific is expected to be the largest market for smart homes by 2025. The North America region will be the next major market for Smart Homes during the forecast period. The automation and electronic companies in the aforementioned regions are leaving no stone unturned in bolstering the market growth. The strong growth of the economy, the growing population in the APAC region, and the rapid urbanization will drive the growth of the smart homes market. With the growth of the major industries in
The Major Players in the Smart Homes Market Include
- Siemens AG
- Honeywell International
- Johnson Controls International
- United Technologies Corporation
- Schneider Electric SE
- Robert Bosch GmbH
The Smart Homes market has seen substantially growing year over year. Despite the advances in technology, consumers facing many issues, which will be taken care by the star-ups companies and manufacturers. The mergers and acquisitions as well as the product launches to augment entry into related markets, and enhance core competencies through additions to product portfolio as well as leverage capabilities of acquired companies to gain a foothold in the emerging markets.
Based on technology, the Smart Homes Market has been segmented into
- Synco IC
- KNX technology
- Smart hub ADT
- Ubier Cloud
- Others (Modbus, EnOcean, IBM Watson)
The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.
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