Sarasota, FL -- (SBWIRE) -- 12/27/2018 -- Global Smart Home as a Service Market: Overview
A smart home is the latest innovation in the housing sector. Domotics or home automation is the technology for making the house completely automated. The facilities that are present within any housing society are made completely automated such as room temperature, lighting, entertainment, security, and other amenities. Owing to which the energy consumption is made limited and consumers are able to connect with the appliances remotely with the help of the connectivity with the internet.
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Global Smart Home as a Service Market: Growth Factors
The increasing concerns for energy management and the increasing requirement for convenience are the major factors driving the smart home as a service market. The service solutions that are provided by the smart home are enabling the users in managing their electronic and entertainment appliances remotely, provides upgraded solutions for security and surveillance, and proper use of the energy. The growing concerns about safety and security have increased the adoption of the automated service solutions. Owing to all these factors the popularity of smart home as a service market is increasing rapidly. The increasing market popularity has compelled the market players to increasingly invest in the R&D and also new entrants are entering the market. Thus in the coming years, there are high chances of innovations and upgradations in the existing technologies.
The increased cost of the products and the lack of connectivity standards can restrict the growth of the smart home as a service market.
Global Smart Home as a Service Market: Segmentation
The global smart home as a service market can be segmented into its services and solutions. On the basis of the service, the global market is bifurcated into integrated and managed services. On the basis of the solutions, the smart home as a service market is segregated into lighting and window, energy management, security, audio-visual and entertainment, and others.
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Global Smart Home as a Service Market: Regional Analysis
The geographical diversification of the smart home as a service market includes Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. It is anticipated that North America holds the major share in the home as a service market. In North America, the U.S. is expected to contribute majorly to the market. The major factors driving the market in this region are the early adoption of the advanced technologies and the presence of the key market players.
Europe is expected to hold the second position in the home as a service market. The countries that are anticipated to be lucrative are Germany, France, and the U.K. The local market players will witness a strong market growth in the future years owing to the increased awareness among the consumers about the latest technologies. In the coming years, Asia Pacific will also exhibit increased opportunities for the home as a service market.
Global Smart Home as a Service Market: Competitive Players
Some of the most important market players in the smart home as a service market include CenturyLink, Inc., Comcast Corporation, Ingersoll-Rand Plc, Protection One Alarm Monitoring, Inc., AT&T Inc., Charter Communications, Frontpoint Security Solutions, Johnson Controls, Inc., Vivint, Inc., and The ADT Corporation, among others.
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