Report
Description
A recent market intelligence report that is published by Data
Insights Partner on Smart Home Device Market makes an
offering of in-depth analysis of segments and sub-segments in the regional and
international. The research study also emphasizes on the impact of restraints,
drivers, and macro indicators on the regional and world Smart Home Device Market over the short as well as long period of time. A
detailed presentation of forecast, trends, and dollar values of international Smart
Home Device Market is offered.
Market
Insights:
In accordance with the report, the Smart Home Device
Market is projected to expand at a CAGR of X.X% over the period
of forecast. The global Smart Home
Device Market was valued at USD XX.X Mn in 2019 and is expected to reach USD
XX.X Mn in 2031, growing with a significant CAGR rate during the forecast
period. the aforementioned regions, North America is home to almost 65% of the
leading manufacturers, integrators, and start-ups of smart home devices. As a
result, the area was able to command the biggest market share for smart home
devices in 2019. The market for smart home devices in North America is
expanding as a result of the presence of large integrators and early acceptance
of technologies like the Internet of Things and artificial intelligence. More
than 30% of the global market for smart home devices is controlled by the US.
Yet, given to the region's rapid economic change and technical improvements, it
is anticipated that the adoption of smart houses and smart home technologies
would be very high. Smart home appliances are wireless and can be operated by a
smartphone app or a virtual assistant using voice commands. These gadgets give
users the ability to control a number of features, including temperature,
security, entertainment, lighting, and wellness, with the press of a button or
by speaking. The Internet connects the electronics that run a smart home,
enabling the user to control and monitor the home's gadgets from a mobile phone
or other connected device. The rising use of the Internet of Things (IoT),
which encourages manufacturers to improve home automation, is one of the main
drivers promoting the adoption of smart home gadgets. The smart home device
market is primarily divided into wireless and wired categories.
Research
Methodology:
To compile
the detailed study of the global Smart Home
Device Market,
a robust research methodology has been adopted that aids in determining the key
insights and also evaluates the growth prospects of the Smart Home Device Market. Comprehensive and iterative research
methodology focused on minimizing deviance in order to provide the most
accurate estimates and forecast possible. The company utilizes a combination of
bottom-up and top-down approaches for segmenting and estimating quantitative
aspects of the market. Our research methodology implements a mix of primary as
well as secondary research. Our projects are initiated with secondary research,
where we refer to a variety of sources including trade databases; government
published documents, investor presentations, company annual reports, Industrial
papers, and paid databases. To carry out secondary research, the analysts have
collected the information through company annual reports, journals, company
press releases, and paid databases that were referred to gain and identify
better opportunities in the Smart Home
Device Market.
COVID-19
Scenario Analysis:
The COVID-19
outbreak has shaken the whole economy in the world. In this scenario some
industries are doing quite well while others have been crushed. This section of
the report has explored the overall status of the COVID-19 scenario. The
industry witnessed a huge decline in terms of sales. Likewise, the Smart Home Device Market was affected negatively due to the
shutdown of manufacturing/processing facilities for some time. The analysts
have also focused on the key measures that the companies are opting to
withstand the harsh scenario.
Segment
Covered:
Smart Home Device Market Compounded annual growth rates for all segments have also
been provided for 2019 to 2031. This report is a compilation of first-hand
information, qualitative and quantitative assessment by industry analysts,
inputs from industry experts and industry participants across the value chain.
Key Segments:
Smart Home Device Market research report
includes an in-depth coverage of the industry with estimates & forecast
from 2023 to 2031, for the following segments:
Smart Home
Device Market, By Connectivity, 2023-2031 (USD Million)
·
Bluetooth
·
Wi-Fi
·
Zigbee
·
Others
Smart Home
Device Market, By Product, 2023-2031 (USD Million)
·
Smart Hubs
and Controllers
·
Smart
Surveillance Cameras
·
Smart Locks
and Security System
·
Smart HVAC
·
Smart
Lighting
·
Smart Kitchen
Appliances
·
other Home
Appliances
Smart Home
Device Market, By Platform, 2023-2031 (USD Million)
·
Amazon Alexa
·
Google
Assistant
·
Apple Siri
·
Samsung Bixby
·
Others
Report
Highlights:
The prime objective of the Smart Home Device Market report is to
help the user understand the market in terms of its definition, segmentation,
market potential, influential trends, and the challenges that the market is
facing with different major regions and more than 30 major countries across the
globe. During the report's production, extensive research and analysis were
conducted. This research will assist readers in gaining a thorough
understanding of the market.
Smart Home
Device Market, By Region, 2023-2031 (USD Million)
·
North America (
United States, Canada, Mexico)
·
Europe
(Germany, UK, France, Italy, Russia, Spain, and Rest of Europe)
·
South Asia (
India, Pakistan and Bangladesh)
·
East Asia
(China, Japan and South Korea)
·
South East Asia
(Indonesia, Thailand, Singapore, Malaysia, Rest of SE Asia)
·
Middle East
(Turkey, Saudi Arabia, Iran, UAE, Israel, Iraq, Qatar, Rest of MEA)
·
Africa
(Nigeria, South Africa, Egypt, Algeria, Rest of Africa)
·
South America
(Brazil, Argentina, Colombia, Chile, and Rest of SA)
·
Oceania
(Australia and New Zealand)
Companies
Profiled:
To enhance their position in the global
market, key suppliers/manufacturers are concentrating on business expansion and
product innovation. Manufacturers/producers are also working on boosting their
manufacturing capacity and product quality to gain a competitive advantage. The
following are some of the prominent manufacturers in the worldwide Smart Home
Device Market:
Siemens
AG (Germany), Johnson Controls International PLC (US), Schneider Electric SE
(France), United Technologies Corporation (US), ASSA ABLOY AB (Sweden), Legrand
SA (France), ABB Ltd (Switzerland), Ingersoll-Rand PLC (Ireland), Comcast
Corporation (US), Hubbell Incorporated (US), Huawei Technologies Co. Ltd (China),
Sony Corporation (Japan), Panasonic Corporation (Japan), LG Electronics Inc.
(South Korea), Lutron Electronics Co Inc. (US), Creston Electronics Inc. (US),
Hitachi Ltd (Japan), Delta Controls Inc (US), Control4 Corp (US), Lennox
International Inc. (US), General Electric Company (US), Axis Communications AB
(Sweden), Distech Controls Inc (US), and Canary Connect Inc. (US) among others.
Smart
Home Device Market Report Highlights:
·
Detailed
analysis of the parent market
·
Key players'
strategies and products supplied in the competitive landscape
·
Market
segmentation in depth analysis
·
Market size
in terms of volume and value, past, present, and future scenario
·
Potential and
specialty areas, as well as geographical regions with promising growth
prospects
·
Market
players use this information to maintain and expand their market presence, thus
it's important to have an unbiased perspective on market performance.
·
Recent
advancements and technological trends in the industry