(Pages 121), The Global Smart Home Market Size was exhibited significant grow and will generate revenues of the USD xx Billion up to 2025 in coming years. The average growth of the global market is expected to XX. XX% CAGR from 2017-2025, as reported in the latest study by our industry experts and analyst.

Smart Home Market: Introduction

The concept of smart home is becoming rapidly popular across the globe due to technological development which has led to increase the comfort of home owners. Increasing automation technology has generated the demand of smart homes in which heating, lighting, security and other basic amenities can be remotely controlled through phones or computers.

Smart Home Market Size: Dynamics

The smart home market was valued at US$ 13.06 million in the year 2013, and is expected to rise significantly over the forecast period. There are many reasons that are anticipated to fuel the growth of smart home market during the forecast period, some of the reasons include increasing security concern of home, rising inclination of consumers towards energy efficient home solutions and development of IoT technology market.

Escalation in real estate industry and growing demand of home equipped with automation and technology to ensure safety, avoid pollutants such as harmful greenhouse gases and hazardous minute dust particles, and preservation of energy are anticipated to aid the growth of smart home market in the upcoming years. Furthermore, rising disposable income of consumer is motivating them to opt for automated and smart devices that can increase their comfort at home. However, high cost of installation of smart devices and lack of standardization can restrain the growth of smart home market over the forecast period.

Global Smart Home Market Size Analysis, By Region (2018-2025)

Smart Home Market Analysis: Segment Analysis 

Energy management segment is expected to grow swiftly over the forecast period, owing to continuously rising electricity cost. Increasing electricity cost has led to the demand of energy efficient devices that can significantly aid in reduction of energy consumption. Launch of novel energy saving products in the market such as LED bulbs are boosting the growth of the segment. Cost effectiveness of energy efficient devices and their durability is another reason which is escalating the growth of energy management segment.

Security segment is projected to witness a crucial rise over the forthcoming years as increased consumer focus towards increasing the security of their home by equipping their home with security cameras, burglar alarms, and window or door sensor alarms.

Regional Analysis of Smart Home Market

North America is projected to be leading the global smart home market size due to higher adaptation of smart home by population living in the region. As the number of pediatric population in North America is expected to be growing significantly during the upcoming years, it is expected to fuel the demand of assistive and smart home healthcare. High disposable income of consumers in the region, coupled with presence of prominent market players is expected to propel the growth of smart home market in the region. Asia Pacific is expected to be the fastly growing region during the forecast period, due to escalation in urbanization in the region, coupled with growing construction industry in the region.

Key Players Operating in Smart Home Market

Major players operating in global smart home market include Johnson Controls Inc., Acuity Brands, Samsung Electronics Co., Legrand, Ingersoll-Rand Plc., Siemens AG, Lutron Electronics Company Inc., Crestron Electronics Inc., Nest Labs Inc., Schneider Electric SE, ABB Ltd., Honeywell International Inc., and United Technologies Corporation.

Global Smart Home Market Report Offer You!

Global Smart Home Market Size report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast.

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