Albany, NY -- (SBWIRE) -- 04/11/2017 -- Transparency Market Research (TMR) presents a new study on the global smart homes market, according to which, the rising cases of theft and the consequent increase in concerns over security has fueled the trend of smart homes across the world. The research report, titled "Smart Homes Market- Global Industry Analysis, Growth, Share, Trends and Forecast 2015 - 2023," offers a complete overview of this market supported by analyses of the key trends, drivers, hindrances, opportunities, challenges, and the growth prospects.

As per the research study, the growing urbanization and the rise in the disposable income of consumers worldwide are also having a positive impact on the global market for smart homes. Over the next few years, the advancement in the Internet of things (IoT) and the increasing preference of consumers for additional convenience are likely to boost the demand for smart homes significantly, states the market report.

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The research report studies the global market for smart homes on the basis of application and geography. By application, the report has classified the market into entertainment, lighting, power management, security, and HVAC control. The security application segment predominantly includes sensors and alarms. The entertainment application segment comprises activating the washing machine or the dishwasher and remotely recording television programs.

On the geographical basis, the report has categorized the worldwide smart homes market into North America, Asia Pacific, Europe, and the Rest of the World. Among these, North America has emerged as the market leader and is closely followed by Europe. The high disposable income of consumers in these regions is the key driving force behind the regions' leadership. Analysts expect North America to retain its dominance during the forecast period. However, Asia Pacific is projected to present the most lucrative opportunities for growth to players operating in this market, states the research study.

The research report also reviews the profiles of the leading companies in the global smart homes market in order to determine the market's hierarchy. According to the study, Honeywell International Inc., Johnson Controls Inc., Ingersoll Rand Plc., Acuity Brands Inc., ABB Ltd., Samsung Electronics Co. Ltd., Siemens AG, Legrand, Nest Labs Inc., Crestron Electronics Inc., United Technologies Corp., and Schneider Electric SE, are the key participants in this market.

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The main objective of this study is to present a clear picture of the global market for smart homes to players and other stakeholders of this market in order to help them in making crucial strategies for the expansion of their businesses.