Global Smart Home Market, 2016-2022

nancymoore

The advanced technology has enabled various devices to be connected and controlled by one device and this technology is used by smart homes. In smart homes, various devices such as lighting, AC, CCTV cameras, smart TV, washing machine, etc.

Published By: Zion Market Research

Global Smart Home Market will increase by 14.5% Annually till 2022

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Smart Home Market

Zion Market Research has published a new report titled “Smart Home Market (Smart

Kitchen, Security & Access Control, Lighting Control, Home Healthcare, HVAC Control and

Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022”.

According to the report, the global smart home market was valued at around USD 24.10

billion in 2016 and is expected to reach approximately USD 53.45 billion by 2022, growing

at a CAGR of slightly above 14.5% between 2017 and 2022.

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https://www.zionmarketresearch.com/sample/smart-home-market

The advanced technology has enabled various devices to be connected and controlled by

one device and this technology is used by smart homes. In smart homes, various devices

such as lighting, AC, CCTV cameras, smart TV, washing machine, etc., can be controlled by

either a remote or a smartphone or tablet. These devices can be switched on or off from a

different location even if the device controlling them gets a signal for the same.

Homeowners are enjoying more convenience and comfort from basic security monitoring

and customized access to window coverings, appliances, lighting, irrigation, entertainment

systems and many others.Prominent drivers of smart home adoption are energy efficiency,

home security, entertainment, convenience/productivity, remote health monitoring and

connectivity.


Smart Home Market

The major growth driver for the smart home market includes growing awareness among

consumers about energy consumption, growing the aging population, rising disposable

income in developing countries, and government initiatives among others.In addition, rising

demand for home healthcare is fueling the growth of the smart home market. However, high

prices coupled with limited consumer demand and long device replacement cycles are top

barriers preventing the smart home market from moving from the early-adopter stage to the

mass adoption stage.

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https://www.zionmarketresearch.com/report/smart-home-market

Segmentation of smart home market is done on the basis of product and region. The

products involved in the smart home market are the smart kitchen, home healthcare, lighting

control, HVAC control and others. Light control held the largest share in the smart home

market due to reduced electricity consumption in homes. Lighting sensors adjust the

intensity of artificial light according to the intensity of natural light thereby reducing power

consumption.

North America held the largest share of the smart home market due to rise in demand of

home health care and population. Europe is another leading smart home market as it

follows North America. In North America, government initiatives include remotely controlling

gas, power meters, and water to fall into the smart grid with ease. Aging population, energy

& cost saving, security, and convenience, reduced carbon emissions, government initiatives


Smart Home Market

are the major factor which is driving the smart home market growth over the forecast period.

Asia Pacific is also projected significant growth in upcoming years.

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The prominent players in the smart home are Legrand, Siemens AG, Johnson Controls Inc.,

Ingersoll-Rand plc, Schneider Electric SE, Acuity Brands, Inc., ABB Ltd., United

Technologies Corporation, Samsung Electronics Co., Ltd., Nest Labs, Inc., Honeywell

International Inc. and Crestron Electronics, among others.

Zion Market Research

Address: 4283, Express Lane, Suite 634-143, Sarasota, Florida 34249, United States

Tel: +1-386-310-3803 GMT

+49-322 210 92714 Tel: +1-855-465-4651 (US/CAN TOLL FREE)

Email: sales@zionmarketresearch.comWeb:www.zionmarketresearch.com

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