COVID19:Global Smart Home Market is projected to reach a value of over USD 340.3 billion by 2027

SMART HOME MARKET: SUMMARY

The Global Smart Home Market is projected to reach a value of over USD 340.3 billion by 2027 at a CAGR of around 20.5%.

Smart home refers to a convenient home setup where devices and appliances can be controlled automatically from anywhere with an Internet connection using mobile or other networked devices. A smart home allows end-users to control light, control appliances, and many other smart devices remotely using network devices through an Internet connection. A smart home provides services and solutions for lighting control, security & surveillance, HVAC control, smart kitchen, entertainment & other control, and home healthcare applications.

SMART HOME MARKET: DRIVERS & OPPORTUNITIES

Market Driver:

  • Increasing Adoption of Smartphone and Other Smart Gadgets

Increasing the population and increasing demand for home automation increases the demand for smartphones and other smart gadgets such as laptops, tablets, and desktop PCs during the forecast period. With the use of different mobile applications, end users can control various smart home applications such as controlling the light, security & Surveillance, family healthcare, and many other applications. The primary benefit of pairing a smartphone with a smart home is an end-user customer can operate or control the smart home application from anywhere in the world. The Internet gives full control of smart home applications to end-user customers. And hence it is expected to drive the market during the forecast period.

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Market Opportunity:

  • Advancement in The Internet of things (IoT) Technology

With the advancement in IoT technology helps to improve the efficiency at a higher level of management, overall profitability of the business and to reduce the risk. Through IoT, customers get a better connection through wireless technology. Furthermore, the Internet of Things advance can be realized for the overall products and lines of business from commercial to life, property and casualty and health. With the help of IoT, smart home appliances can save time, energy, and money.

Hence, advancement in IoT technology is expected to surge the smart home market during the forecast period.

SMART HOME MARKET: KEY SEGMENTS

  • Based on technology: Network Technology and Wireless Technology
  • Based on offering: Lighting Control, HVAC Control, Security & Surveillance, Entertainment & Other Control, Smart Kitchen, and Home Healthcare
  • Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.

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SMART HOME MARKET: REPORT SCOPE

The report on the smart home market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report Features

Specifics

Historical/Estimated/Forecasted Market Size Years

2018–2027

Base Year for Market Calculation

2019

Forecasted Period

2020–2027 (2020 estimated year, forecasted up to 2027)

Measured Units

Value (USD Million)

Segments Included

Technology and Offering

Regional Coverage

North America, Asia-Pacific, Europe, Middle East & Africa, South America

KEY Companies Covered

  • Honeywell International Inc. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • GENERAL ELECTRIC COMPANY
  • Schneider Electric
  • ABB
  • Johnson Controls
  • SAMSUNG ELECTRONICS CO., LTD
  • Legrand
  • United Technologies Corporation
  • LG Electronics
  • Lennox International Inc.
  • Other Key Companies
  • Lutron Electronics Co., Inc
  • Nest Labs

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SMART HOME MARKET: REPORT SEGMENTATION

For the scope of the report, In-depth segmentation is offered by Forencis Research

Smart Home Market, by Technology

  • Network Technology
  • CDMA
  • GSM
  • LTE
  • Wireless Technology
  • Wi-Fi
  • Bluetooth
  • Zigbee
  • Infrared
  • Z-Wave
  • Others

Smart Home Market, by Offering

  • Lighting Control
  • Timers
  • Dimmers
  • Switches
  • Relays
  • Occupancy Sensors
  • Others
  • HVAC Control
  • Smart Vents
  • Smart Thermostats
  • Acutators
  • Pumps & Fans
  • Control Valves
  • Dampers
  • Humidifiers
  • Air Cleaners
  • Sensors
  • Others
  • Security & Surveillance
  • Access Control
  • Facial recognition
  • Iris Recognition
  • Fingerprint Recognition
  • Others
  • Video Surveillance
  • Harware
  • Security Cameras
  • Storage Devices
  • Monitors
  • Others
  • Software
  • Services
  • Entertainment & Other Control
  • Audio, Volume, and Multimedia Room Control
  • Home Theatre System Control
  • Wireless Doorbells
  • Smart Meters
  • Smart Hubs
  • Smart Lock
  • Smoke Detector
  • Others
  • Smart Kitchen
  • Smart Dishwashers
  • Smart Refrigerator
  • Smart Coffee Makers
  • Smart Ovens
  • Smart Cookers
  • Smart Kettles
  • Others
  • Home Healthcare
  • Physical Activity Monitors
  • Health Status Monitors
  • Others

Smart Home Market, by Region

  • North America
  • US
  • Canada
  • Mexico
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Taiwan
  • Rest of Asia-Pacific
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Netherlands
  • Rest of Europe
  • Middle East & Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa
  • South America
  • Brazil
  • Argentina
  • Rest of South America

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Table of Content

1 Introduction

2 Research Design & Scope

3 Executive Summary

4 Market Dynamics

5 Industry Trends — Porters Five Forces Analysis

6 GLOBAL SMART HOME MARKET BY TECHNOLOGY, Market Size in USD Million (2019–2027)

7 GLOBAL SMART HOME MARKET BY OFFERING, Market Size in USD Million (2019–2027)

8 GLOBAL SMART HOME MARKET BY REGION, Market Size in USD Million (2019–2027)

9 Competitive Landscape

10 Company Profiles

11 Appendix

About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.

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