Smart Home Market – What Are The Main Factors That Contributing Towards Industry Growth?

The MarketWatch News Department was not involved in the creation of this content. Sep 29, 2020 (AmericaNewsHour) — Global Smart Home Market is further estimated to grow at a CAGR of 13.08% from 2018 to reach USD 124.57 Billion by the year 2025. North America region holds the highest Industry […]

The MarketWatch News Department was not involved in the creation of this content.

Sep 29, 2020 (AmericaNewsHour) —
Global Smart Home Market is further estimated to grow at a CAGR of 13.08% from 2018 to reach USD 124.57 Billion by the year 2025. North America region holds the highest Industry share in 2017 and Asia-Pacific Industry is considered as the fastest growing Industry in the forecasted period. At a country level, developed Industry’s like the U.S. as well the emerging Industry’s like China with highest population base holds a notable Industry share in 2017 and it is projected to grow at a gradual pace in the coming years.

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Major market players in Smart Home Market are Schneider Electric Se, General Electric Company, Siemens AG, Samsung Electronics Co. Ltd., ABB Ltd., Legrand S.A, Honeywell International Inc., United Technologies Corporation, Johnson Controls Inc., Ingersoll-Rand PLC and other 10 more companies’ detailed information is provided in research report.

In the statistics by Eurostat, the total value of the ICT sector including manufacturing and services of ICT in Europe, was estimated to be more than EUR 475 billion in the year 2017. Out of these, the ICT services sector accounted for the largest share. Moreover, the ICT services sector is predicted to be ten times larger than that of ICT manufacturing. On the other hand, the ICT services consist of computer programming, consultancy and related activities, along with telecommunication activities, out of which the former held about 49.1% share while the latter held around 30.3% share in the year 2017. These factors are estimated to impact positively towards the growth of the market in the next few years.

Rising research and development expenses to address the changing demand of end users, similarly, growth strategies such as Collaboration between top players like Honeywell and Huawei for developing the smart building projects were adopted. ADT, Vivint, Comcast and AT&T from America and eQ-3, RWE, Verisure and Loxone from Europe are the new entrants which have already established their business in developing smart homes. This suggests that there are growth opportunities for new entrants in the smart home Industry.

SWOT analysis of Smart Home Market
Technological advancements in different segments like self-monitored security systems for smart homes
Government grants provided to promote green buildings and eco-system
The high cost of switching from existing devices to updated ones
Smart Homes provide opportunities for lateral growth to various sub-segments like lighting controllers and in-built data-connectivity technology
Device maintenance issues for the product such as UV purifier and humidifier for smart home

Segmentation done on the basis of Application includes Security & Access, Lighting Control, Heating Ventilation & Air Conditioning, Smart Kitchen, Home Healthcare, Home Appliances, Entertainment of which the Lighting Control segment is expected to hold the highest Industry share during the forecast period. This is increasing due to the investment of government in a smart city project. Peer-to-peer connections between devices for the autonomous functioning of devices are created by this lighting controller.

By Software
? Proactive
? Behavioral

By Application
? Security & Access
? Lighting Control
? Heating Ventilation & Air Conditioning
? Smart Kitchen
? Home Healthcare
? Home Appliances
? Entertainment

By Region
North America
? Canada
? Germany
? U.K.
? France
? Italy
? Rest of Europe
? China
? India
? Japan
? Rest of Asia-Pacific
? Latin America
? Middle East & Africa

Request For Full Reports:

1. Introduction
1.1 Industry Vision
1.2 Limitations
1.3 Stakeholders
2. Research Methodology
2.1. Research Process
2.1.1. Secondary Research Key Data from Secondary Research
2.1.2. Primary Research Key Data from Primary Research Breakdowns of Primary Interviews
2.2. Industry Size Estimation
2.2.1. Bottoms-Up Approach
2.2.2. Top-Down Approach
2.2.3. Annual Revenue Process
2.3. Data Triangulation
2.4. Research Assumptions
2.4.1. Assumption
3. Executive Summary
4. Industry Overview
4.1. Introduction
4.2. Strength
4.3. Weakness
4.4. Opportunities
4.5. Threats
4.6. Regulations
4.7. Supply Chain/Value Chain Analysis
4.8. Patent & Standards
5. Industry Trends
5.1. Introduction
5.2. Porter’s Five Forces Analysis
5.2.1. Threat of New Entrants
5.2.2. Threat of Substitutes
5.2.3. Bargaining Power of Buyers
5.2.4. Bargaining Power of Suppliers
5.2.5. Intensity of Competitive Rivalry
6. Smart Home Industry, By Application
6.1. Security & Access
6.2. Heating Ventilation & Air Conditioning
6.3. Smart Kitchen
6.4. Home Healthcare
6.5. Home Appliances
6.6. Entertainment
7. Smart Home Industry, By Software
7.1. Proactive
7.2. Behavioral
8 Geographical Analysis
8.1. Introduction
8.2. North America
8.2.1. U.S.
8.2.2. Canada
8.2.3. Mexico
8.3. Europe
8.3.1. Germany
8.3.2. France
8.3.3. U.K.
8.3.4. RoE
8.4. Asia Pacific
8.4.1. China
8.4.2. Japan
8.4.3. India
8.4.4. RoAPAC
8.5. RoW
8.5.1. Latin America Brazil Argentina Rest of Latin America
8.5.2. Middle East and Africa
9. Company Profiles
9.1. Schneider Electric Se
9.1.1 Company Overview
9.1.2 Financial Overview
9.1.3 Product Overview
9.1.4 Current Development
9.2. General Electric Company
9.3. Siemens AG
9.4. Samsung Electronics Co., Ltd.
9.5. ABB Ltd.
9.6. Legrand S.A
9.7. Honeywell International, Inc.
9.8. United Technologies Corporation
9.9. Johnson Controls, Inc.
9.10. Ingersoll-Rand PLC
10. Competitive Analysis
10.1. Introduction
10.2. Industry Positioning of Key Players
10.3 Competitive Strategies Adopted by Leading Players
10.3.1. Investments & Expansions
10.3.2. New Product Launches

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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