Smart homes offer a range of benefits including integrated security, efficient management, greater autonomy, and quick disaster management. These factors are likely to fuel the growth of the market during the assessment period.
Albany, NY -- (SBWIRE) -- 03/15/2018 -- A new comprehensive study titled "Global Market Study on Smart Home Solutions: Software Expected to be the Fastest Growing Component Segment During 2017 – 2025" has recently been added to the vast database of Market Research Reports Search Engine (MRRSE). According to the report, the global smart home solutions market is projected to grow at over 20% CAGR through 2025, and reach a valuation of over US$ 160 Bn by the end of 2025.
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According to the report, the global adoption of smart home solutions is driven the by the cross-industry trend towards smart and advanced solutions. Smart homes are gaining traction all over the globe, and many governments and private players are investing in smart home solutions around the globe. Smart homes offer a range of benefits including integrated security, efficient management, greater autonomy, and quick disaster management. These factors are likely to fuel the growth of the market during the assessment period.
In addition to offering detailed insights on the growth of the market, the report also offers analysis on the major restraints that are impeding growth. According to the report, high investment in smart home solutions, combined with concerns about the vulnerabilities of the entire system to hacks are some of the key challenges for smart home solutions market.
The study divides the global market into various segments and sub-segments to provide 360 degree view and these segments are type of homes, applications, components and region. The segment of type of homes is further divided into sub-segments which are apartment, villa / bungalow and others. The applications segment has categorized the global market into HVAC, building energy management, security & surveillance and lighting solutions. On the basis of component, the global market is divided in the report into sub-segments which are hardware, software solutions (energy management, network management, network management and intelligent security system) and services. Geographically, the global market is divided into key regions which are North America, Europe, Latin America, Asia Pacific and Middle East and Africa.
Read Detailed Index of full Research Study at: https://www.mrrse.com/smart-home-solutions-market
By component, the services segment is likely to remain dominant over the forecast period and grow at a significant CAGR during the assessment period. The report projects lighting solutions to remain a key application segment during the assessment period, and grow at over 20% CAGR during the assessment period. Adoption of smart home solutions is likely to remain robust in the villa/bungalow segment, whereas growth will be significant in the apartment segment.
By region, the report projects North America to remain the most lucrative market, with the U.S. witnessing steady adoption of smart home solutions. In addition to North America, Asia Pacific is likely to emerge as an attractive market for smart home solutions during the assessment period. The APAC smart home solutions market is projected to grow at over 24% CAGR during the assessment period.
The report also profiles some of the leading companies in the global smart home solutions market. Some of the major companies profiled in the report are Siemens AG, General Electric Company, United Technologies Corporation, Schneider Electric Se, Ingersoll-Rand PLC, Honeywell International, Inc., Johnson Controls, Inc., Legrand S.A., ABB Ltd., Acuity Brands, Inc., Samsung Electronics Co., Ltd., Leviton Manufacturing Company, Inc., Lutron Electronics Co., Inc., Select Comfort Corporation¸ Vivint Smart Home, Lifx and Switchmate Inc.
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