Global Smart Home Market Report 2022: Rising Investment in Residential Building Construction & Increasing Importance of Smart Home Healthcare Presents Growth Opportunities – GlobeNewswire
Dublin, Aug. 09, 2022 (GLOBE NEWSWIRE) — The “Smart Home Market Research Report by Product (Energy Management, Entertainment Control, and HVAC & R Control), Technologies, Service, Deployment, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) – Global Forecast to 2027 – Cumulative Impact of COVID-19” report has been added to ResearchAndMarkets.com’s offering.
The Global Smart Home Market size was estimated at USD 90.59 billion in 2021, USD 103.30 billion in 2022, and is projected to grow at a CAGR 14.20% to reach USD 200.99 billion by 2027.
Market Segmentation & Coverage:
This research report categorizes the Smart Home to forecast the revenues and analyze the trends in each of the following sub-markets:
- Based on Product, the market was studied across Energy Management, Entertainment Control, HVAC & R Control, Lighting Systems, and Security & Surveillance System.
- Based on Technologies, the market was studied across Cellular Network Technologies, Protocols and Standards, and Wireless Communication Technologies.
- Based on Service, the market was studied across Managed Service and Professional Service.
- Based on Deployment, the market was studied across Cloud and On-premises.
- Based on Region, the market was studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, and Thailand. The Europe, Middle East & Africa is further studied across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and United Kingdom.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Smart Home Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
- Increasing Use of Connected Devices at Home
- Penetration of IoT, Z-Wave, Wi-Fi, Bluetooth Technology
- Investment in Smart Home Security Devices
- Positive Drive Towards Smart Kitchen, Bathrooms, & Gym
- High Cost for Smart Home Setups
- Consumer Security and Privacy Concerns with More Connected Devices
- Shifted Focus on Improving Energy Efficiency
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