The global smart home market is poised to grow by USD 205 billion during 2022-2028, progressing at a CAGR of 21.3% during the forecast period, According to market research study published by Intelligence Market Report

London, UK -- (SBWire) -- 01/18/2023 --Smart Home Market Scope & Overview

The global smart home market has seen remarkable growth in recent years, and is expected to continue on an upward trajectory in the coming years. Smart homes are equipped with automated and intelligent technologies that enable users to manage their homes more effectively and efficiently. Consumers are increasingly opting for smart home solutions, driven by the availability of advanced technologies and the desire for greater convenience.

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Key Players Covered in Smart Home market report are:

ABB Ltd.,
ADT Inc.,
Alphabet Inc.,
Amazon.com Inc.,
Crestron Middle East FZ LLC,
Emerson Electric Co.,
Haier Group Corporation,
Honeywell International Inc.,
Huawei Technologies Co. Ltd.,
Johnson Controls International plc,
Legrand S.A.,
LG Corporation,
Osram Licht AG,
Schneider Electric SE,
Siemens AG,
Signify N.V.,
The Samsung Group,
The Whirlpool Corporation.

From a commercial standpoint, the smart home market is driven by rising demand for energy-efficient and cost-saving features and capabilities. Smart home products are designed to significantly reduce a building's energy costs, by automating heating and cooling, and controlling the amount of electricity used. Similarly, smart home solutions can contribute to reducing water usage, by switching off taps and showers when not in use. These factors are creating an attractive commercial opportunity in the global Smart Home market.

The types of products available in the market are diverse, ranging from climate control and security systems to lighting and audio-visual solutions. Some of the most widely used smart home solutions include voice-enabled digital assistants, advanced lighting systems, and media streaming services. Consumers' increased willingness to invest in these solutions is creating a steady base for the Smart Home market's growth.

Smart Home Market Segmentation as Follows:

segmented by component:
hardware,
services,
software.

segmented by technology:
computing networks,
power line,
wired,
wireless.

Based on application:
energy management,
entertainment,
healthcare and assisted living systems,
home fitness & wellness,
HVAC,
lighting,
security & surveillance,

By region:
- Asia Pacific
- Europe
- North America
- Rest of the World (RoW)

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Moreover, the growing popularity of cloud-based services is also fuelling the growth of the Smart Home market. Cloud-based services allow consumers to store and access data remotely, and automate tasks at the home premise. Additionally, the growing market for connected devices is also contributing to the growth of the Smart Home market. Connected devices allow consumers to control their homes remotely and add convenience to their lives.

Looking ahead, the Smart Home market is set to continue experiencing remarkable growth. Major players in the market are further strengthening their presence by investing in R&D, introducing new products, and ramping up customer service. Furthermore, governments across the world are encouraging the adoption of smart home solutions, through various initiatives and regulations. All these factors are predicted to have a positive impact on the growth of the Smart Home market in the coming years.

Table of Content – Analysis of Key Points

Chapter 1. Executive Summary

Chapter 2. Global Market Definition and Scope

Chapter 3. Global Market Dynamics

Chapter 4. Global Smart Home Market Industry Analysis

Chapter 5. Smart Home Global Market, by Type

Chapter 6. Smart Home Global Market, by Application

Chapter 7. Smart Home Global Market, Regional Analysis

Chapter 8. Competitive Intelligence

Chapter 9. Key Companies Analysis

Chapter 10. Research Process

Continued…

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