The recent advancements in the Internet of Things (IoT) and the introduction of high-speed internet have increased the demand for smart home appliances. Automation in the household sector has a promising future ahead, considering this fact, Market Research Reports Search Engine (MRRSE) has recently publicized the addition of a new market report to its huge online repository with a title “Smart Homes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”. This report on global smart homes market analyzes the current market conditions as well as the future prospects of the industry.
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The report predicts that the global market for smart homes will surge at a healthy CAGR of 14.6% from 2017 to 2025. At this pace, the market is expected to reach a valuation of US$ 97.61 billion by the end of 2025 from US$ 30.02 billion in 2016. This report on global smart homes market offers a 360-degree view of the industry and its key segments and sub-segments. Market dynamics, such as drivers, restraints, challenges and key trends impacting the market’s trajectory have been examined in detail within the report. The market study on smart homes has been compiled with the help of various research methodologies and assumptions to cater to the needs of businesses across the globe.
Apart from the above elements, for better overall analysis, the global smart home market is segmented on the basis of application and geography. On the basis of application, the smart home market is segmented into security and access control, lighting control, entertainment control, HVAC control and others. Among these segments, the HVAC control segment accounted for the largest market share in 2016 and is expected to remain at the top throughout the forecast period. Geographically, the global smart home market is classified into Asia Pacific, North America, Europe, Latin America and Middle East and Africa. Among these regions, North America had emerged as the leading market for smart homes, holding a market share of 38.7% in 2016.
In the final part of the report, a competitive landscape analysis is provided based on relative positioning of the market participants in the global smart homes market. Besides this, the company profiles includes information such as company details (HQ, foundation year, employee strength), market presence (by segment and by geography), business and financial strategies, SWOT analysis and revenue of the major players in the smart homes market. Some of the key players in the global market include Siemens AG, Schneider Electric SE, ABB Ltd., Johnson Controls Inc., Emerson Electric Company, Honeywell International Inc., Samsung Electronics Co., Ltd., United Technologies Corporation, LG Electronics Inc. and Crestron Electronics, Inc. among others.
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