Every product sold in the market these days come with the tag ‘smart’. A smart home is a residence that makes use of the internet to smartly manage its various appliances and systems. This term is also called smart home automation in many places. Such smart homes are considered a part of the Intenet of Things (IoT). The first idea of such smartly equipped homes originated in the year 1975. Since then, the industry has grown by leaps and bounds.
The smart home market is greatly affected by the growth of the smart consumer electronics industry. As the consumer electronic brands keep growing every day, they positively affect this industry in turn. Every electronic product that is being created these days is equipped to be installed and used in such smart homes. Some of the popular products that are used as a part of this smart home automation system are garage locks, home locks, light bulbs, televisions, air conditioners and even coffee makers.
This report is an analysis of the global, regional and individual company level analysis of the smart home market. This report talks about the opportunities the market will have for growth in the years between 2019 and 2024 and the risks and restraints that the industry will face. The report goes on to identify important factors like revenue generated, sales volume, demand and supply capacity and the CAGR of this market in the forecasted period.
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Market Segmentation
There are nine broad segments that this report considers when it comes to market segmentation based on product type. These segments are security and access control, entertainment, smart kitchen, lighting control, home appliances, home healthcare, HVAC, smart speaker and smart furniture. The individual demand for each of these product categories are explained very clearly in the report. Stakeholders can easily understand the category that will lead the market and create better and higher supply from customers and commercial industries. This smart home report also identifies potential areas of usage or applications of these products.
Regional Analysis
Regions like North America, Europe, Asia-Pacific, South East Asia, etc. are a part of this smart home study. While North America and Europe will be important players in the market growth during the periods 2019 to 2024, Asia-Pacific will be the top region to look out for. Countries like China and India will have increased demand for products from this market owing to their urbanization and availability of disposable income. This report identifies different key players in each of these regions and talk about their growth and expansion plans too. Submarkets in all of these regions are also identified by the report.
Industry News
In mid-October 2019, Virgin Media announced its plan to provide its Ireland customers with smart home technology. This brand will be partnering with Google and TP-Link to offer smart home packages that start from 15 Euros a month for a 12 month package.
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Table Of Content:
- Introduction
2. Research Methodology
3. Executive Summary
4. Market Forces
5. Market Outlook by Type (Current size & future market estimates)
6. Market Outlook by Function (Current size & future market estimates)
7. Market Outlook by Application (Current size & future market estimates)
8. Market Outlook by Regions (Current size & future market estimates)
9. Competitive Landscape
10. Company Profiles Includes: Company Overview, Product & Services Offerings, Financials (only for listed companies), New Developments and Innovation)
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