Technological progress, ease of use and convenience of conducting analysis and forecasting of the smart home technology market with different insights into segments and key players

NOIDA, India,, April 8, 2021 / PRNewswire / – UnivDatos Market Insights recently added a comprehensive overview of the smart home technology market to its huge database. The Smart Home Market Report is consolidated by gathering information data of different dynamics such as market drivers, constraints and opportunities. This innovative report uses several analyzes to get a closer look at the smart home technology market. The Smart Home Market Report offers a detailed analysis of the latest industry developments and market trends affecting market growth. Furthermore, this repository of statistical market research examines and evaluates the smart home technology market globally and regionally. The Smart home technology The market is expected to grow at a CAGR of 19.7% from 2021 to 2027 $ 208.5 billion until 2027.

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Market overview

Smart home technologies have been around for two or three decades. Previously, these innovations were a niche segment for very wealthy or extreme technophiles who wanted to do a few things, such as remotely control lights or screens, or stream audio-video content between rooms, or do some security measurements at home. However, in recent times, with the increasing penetration of the Internet and the benefits offered by smart products, the market is attracting a mass population.

Smart home technologies / home automation are ambiguous terms used in a wide range of solutions to control, monitor and automate functions in the home. The smart home system requires that it have a smartphone or web portal application as the user interface. Smart home systems can be classified into six main categories: safety and security, smart devices, HVAC (heating, ventilation and air conditioning), home entertainment, lighting systems and energy management. According to the study, there are almost 102.6 million smart homes in Croatia North America i Europe in 2020 North America, with an installed base of more than 50 million smart homes, is the most advanced smart home market.

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COVID-19 Impact

Around the world, several countries imposed a blockade during the pandemic, in order to check and suppress the widespread transmission of COVID-19. During this period, the number of people staying at home and close to home increased, which increased the adoption of smart technologies. This adoption of technologies is leading to the growth of the industry, as more and more users are upgrading or choosing new technologies. Furthermore, vendors also take advantage of these requirements and provide relevant technologies that are easy to use and easy to adopt with easy installation and integration. A new study estimates that nearly one-third of smart device owners are in United States broadband households increased the use of their smart devices during the COVID-19 pandemic, including 46 percent of smart lock owners.

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The smart home market report is carefully studied from several aspects to help stakeholders make more curated decisions.

According to the products, the market is primarily divided into

  • Safety and security

  • Smart devices

  • HVAC

  • Home entertainment

  • Lighting systems

  • Energy management

The smart devices segment dominated by type of global smart home market and will rise to 20.4% CAGR to reach $ 57.4 billion by 2027.

Technology, the market is primarily segmented into

Among the technological types, the wireless network has the largest share and is expected to grow by 19.4% CAGR during the projected period 2021-2027. In 2020, the wireless segment had a revenue share of almost 83.3%.

With wireless technology, the market is primarily divided into

  • Wi-Fi technology

  • bluetooth

  • Zigbee

  • Z – Wave

  • The others

In 2020, the Wi-Fi technology segment dominated the global smart home market with almost 60.8% market share, and it is expected that by 2027, the segment will collect $ 98.1 billion markets.

Wire technology is primarily used to study the market

  • Ethernet

  • Communication via electrical network

  • Optical fibers

  • The others

In 2020, the Ethernet segment dominated the global smart home market with almost 54.9% market share, and is expected by 2027, the segment will collect $ 19.4 billion markets.

The end user primarily shredded the market in

In 2020, the residential segment dominated the global smart home market with almost 76.2% market share, and is expected by 2027, the segment will collect $ 154.2 billion markets.

According to housing, the market is primarily divided into

In 2020, the mid-range house / apartment segment dominated the global smart home market with almost 37.5% market share, and it is expected that by 2027, the segment will collect $ 55.6 billion markets.

The commercial market is primarily fragmented

In 2020, the hospital segment dominated the global smart home technology market with almost 66.2% market share, and it is expected that by 2027, the segment will collect $ 34.8 billion markets.

The geographical segmentation of the smart home market includes:

  • North America (United States,, Canada, and the rest North America)

  • Europe (Germany,, UK,, The Netherlands,, France,, Norway,, Switzerland,, Denmark, and the rest Europe)

  • Asia-Pacific (china,, Japan,, India,, north koreaand the rest Asia-Pacific)

  • middle east & North Africa (UAE, Saudi Arabia,, Qatar,, Kuwait,, Turkey,, Israel, and the rest of the Middle East)

  • Latin America (Brazil,, Argentina, and the rest Latin America)

Based on the assessment, North America the region dominated the smart home market with almost $ 27 billion revenue in 2020. At the same time, Asia-Pacific the region is expected to grow significantly with a CAGR of 23.9% over the forecast period due to increasing internet penetration, disposable income and millennial population, and smart product awareness.

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Major market targeting players include

  • Haier Electronics

  • ABB Limited

  • Acuity Brands, Inc.

  • AMX, LLC

  • ASSA ABLOY

  • Cisco Systems, Inc.

  • Control4 Corporation

  • Crestron Electronics Inc.

  • Deutsche Telekom AG

  • Emerson Electric Co.

  • General Electric Company

  • Samsung Electronics Ltd.

  • Honeywell International Inc.

  • IBM Corporation

  • LG Electronics Inc.

  • Monitronics International Inc.

  • Schneider Electric SE

  • Siemens AG

  • United Technologies Corporation

  • Vivint Inc.

Competitive landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating around the world. A specialist team of research analysts illuminates various features such as global market competition, market share, the latest industry advances, innovative product launches, partnerships, mergers or acquisitions by leading companies in the smart home market. Leading players were analyzed using research methodologies to gain insight into global competition.

Key issues addressed through this analytical market research report include:

  • What are the latest trends, new patterns and technological advances in the smart home market?

  • What factors affect the smart home market over the forecast period?

  • What are the global challenges, threats and risks in the smart home market?

  • What factors drive and hinder the smart home market?

  • What are the demanding global regions in the smart home market?

  • What will be the size of the global market in the coming years?

  • What are the key market acquisition strategies and policies applied by global companies?

We understand the needs of different companies, regions and countries, we offer customized reports according to your requirements of a business nature and geography. Let us know if you have any customized needs.

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About UnivDatos Market Insights

UnivDatos Market Insights (UMI) is a passionate market research company and subsidiary of Universal Data Solutions. We believe in providing insight through market intelligence reports, customized business research, and primary research. Our research studies are spread across topics around the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, in-depth analyzes, and customized reports to help shape winning business strategies for our clients.

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Insight into the UnivDatos market
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Client Development Guide
Ph: + 91-7838604911
Email: [email protected]
Website: https://univdatos.com/

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