Global Smart Home Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Smart Home market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region.
The global smart home market will grow at a compound annual growth rate (CAGR) of 14.8% during the forecast period from 2022-2030.
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The advent of smart Home technologies has helped people live a convenient, comfortable, entertaining, sustainable, and secure life. The growing adoption of these technologies by middle-income household forecasts boost the growth of the market during the forecast period.
Moreover, IoT (Internet Of Things) advancements would create ample opportunities for businesses thriving in the market. The applications of IoT in smart home technology are likely to boost the growth of the market. Smart appliances, including washers, refrigerators, and dryers, have several automated benefits to ease out the work of consumers. Moreover, the introduction of smart thermostats, smart lightings, and the security and safety systems such as sensors, cameras, monitors, and the alarm would boost the demand for technologies during the forecast period.
Furthermore, the global smart home market is expected to gain traction due to the rapidly increasing demand for convenient, secure, and safer households. The technology helps manage the entire set of devices from one place. Such innovation would accelerate the growth of the market during the analysis period.
The beneficial properties of the smart home devices help homemakers in upgrading their lifestyle technology. These features are anticipated to amplify the demand for the device in urban areas.
On the contrary, the growth of the global smart home market is forecast to slow down due to security and privacy-related concerns.
Geographic Overview
North America has been a leading contributor to the growth of the global smart home market. The region is forecast to witness significant growth during the forecast period. Moreover, the authorities have been focusing on lessening the use of carbon emission-oriented solutions. Apart from that, the rapid implementation of IoT to reduce the use of fossil fuels would fuel the growth of the global smart home market during the forecast period.
Regional Analysis
Asia-Pacific is forecast to present a significant contribution to the global smart home market during the forecast period. India is continuously working on technology development that would make daily chores easier and convenient. Apart from that, the Indian government has taken various initiatives to promote the use of technology that would ensure a secure, convenient, and pollution-free environment.
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COVID-19 Impact Analysis
The sudden spread of the COVID-19 infection across the globe has impacted the leading economies. The pandemic has also affected trade activities as most of the population eliminated the use of needless things. Thus, the declining interest of consumers during the COVID-19 pandemic slowed down the growth of the market.
Moreover, the sudden onset of the pandemic affected the overall manufacturing activities. It also created production delays, owing to the lockdown and travel restrictions in the market.
Competition In The Market
- Honeywell International Inc. (United States)
- Siemens AG (Germany)
- Schneider Electric SE (Europe)
- Johnson Controls Inc. (Europe)
- Samsung Electronics Co. Ltd. (South Korea)
- Legrand (Europe)
- ABB Ltd. (Europe)
- Acuity Brands, Inc. (United States)
- Crestron Electronics, Inc. (United States)
- United Technologies Corporation (United States)
- Ingersoll Rand PLC (Europe)
- Nest Labs In (United States)
- Other Prominent Players
Market Segmentation
By Product
- Lighting control system
- Home entertainment system
- Smart home healthcare
- Smart home appliance
- HVAC control
- Security & access control
By Technology
- Bluetooth
- Wi-Fi
- RFID
- GSM/GPRS
- Others.
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By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
What is the goal of the report?
The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
During the forecast period, the report analyzes the growth rate, market size, and market valuation.
The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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