Single-Family Smart Homes Global Market Estimated To Grow At 19% Rate – EIN News

Single-Family Smart Homes Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Single-Family Smart Homes Global Market Report 2022 – Market Size, Trends, And Forecast 2022-2026

LONDON, GREATER LONDON, UK, August 18, 2022 /EINPresswire.com/ — As per The Business Research Company’s “Single-Family Smart Homes Global Market Report 2022”, the single-family smart homes market size is expected to grow from $70.15 billion in 2021 to $83.78 billion in 2022 at a compound annual growth rate (CAGR) of 19.4%. The growth in the single-family smart homes market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The single-family smart homes market is expected to reach $162.87 billion in 2026 at a CAGR of 18.1%. The increasing number of connected homes and growing implementation of smart home appliances including speakers, home healthcare products, lightning systems, smart kitchen, smart furniture, and HVAC control solutions is projected to contribute to the higher demand for single-family smart homes market.

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Single-Family Smart Homes Industry Trends
According to the single-family smart homes market analysis, technological advancements related to the internet of things (IoT) and smart home devices is a major trend in the industry. According to a report published by TrendinFocus in July 2019, a big number of users have started using IoT devices and smart homes. In 2020, the number of connected IoT devices used were 11.3 billion. According to IoT Analytics, the global number of linked IoT devices will reach 27 billion by 2025. The newly launched smart speakers by Google Assistant and Amazon Alexa are shaping the growth of smart devices. Moreover, in December 2019, Lenovo, a Chinese multinational technology company, launched a range of smart home devices including smart bulbs, smart display and smart camera. The company aims at expanding its product portfolio in India. Therefore, technological advancement in IoT and smart home devices is expected to remain a key trend and boost the revenue for the single-family smart homes market.

Overview Of The Single-Family Smart Homes Market
The single-family smart homes market consists of sales of smart appliances and their related services used in single-family homes. Smart homes are futuristic buildings equipped with advanced electronics and wireless devices. The smart home system requires a web portal or smartphone application to interact with the automated system as a user interface. The smart home appliances include smart entertainment, smart lighting, home security and smart appliances, which are controlled by sensors, timers, switches and remote controllers.

Learn more on the global single-family smart homes market report at:
https://www.thebusinessresearchcompany.com/report/single-family-smart-homes-global-market-report

Single-Family Smart Homes Global Market Report 2022 from TBRC covers the following information:

Market Size Data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Market Segmentation
• By Product: Smart Lighting, Entertainment, Smart Appliances, Others
• By Technology: Wi-Fi, Bluetooth, GSM/GPRS, RFID, Others
• By Software And Service: Proactive, Behavioral
• By Geography: The global single-family smart homes market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, …….

Source: http://www.einnews.com/pr_news/586653966/single-family-smart-homes-global-market-estimated-to-grow-at-19-rate

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