Smart Home Devices Market Report to Witness Huge Growth by Key Players, Trends and Forecast to 2030 – EIN News
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Integration of smoke detectors with Internet of Things (IoT) and big data is a key factor driving smart home devices market
Smart Home Devices Market Size – USD 84.52 Billion in 2021, Market Growth – at a CAGR of 10.4%, Market Trends – Significant investments in research & development activities”
— Emergen Research
VANCOUVER, BC, CANADA, September 14, 2022 /EINPresswire.com/ — The global smart home devices market size reached USD 84.52 Billion in 2021 and is expected to register a revenue CAGR of 10.4% during the forecast period, according to latest analysis by Emergen Research. The incorporation of lighting controllers with in-built data-connectivity technology is an important factor driving market revenue growth. Over the past few years, there has been a significant expansion in the lighting control industry. A sizable range of goods, including timers, daylight sensors, dimmer, and occupancy sensors, are available in this market. These items can be used separately or in conjunction with one another. They are compatible with both wireless network and wired network technologies for home automation integration.
In Smart Home Devices business report, industry trends are formulated on macro level which helps clients and the businesses comprehend market place and possible future issues. This market research report involves a key data and information about the Smart Home Devices industry, emerging trends, product usage, motivating factors for customers and competitors, restraints, brand positioning, and customer behavior. A detailed market study and analysis of trends in consumer and supply chain dynamics cited in this report helps businesses draw the strategies about sales, marketing, advertising, and promotion.
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The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.
Key Players Profiled in the Report are:
SAMSUNG, LG Electronics, Honeywell International Inc., Schneider Electric, Koninklijke Philips N.V, Amazon.com, Inc., Robert Bosch GmbH, Apple Inc, Panasonic Holdings Corporation, and Sony Corporation.
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Some Key Highlights
The entertainment and other controls segment accounted for the largest revenue share in 2021. The ease with which these controls make it possible to manage and regulate entertainment systems within a home is what drives the expansion of the video, multimedia, and audio control business. With the help of intelligent entertainment systems, users eliminate the clutter of remote controls in favor of a more sophisticated approach. Additionally, they may simplify their setup so that users can quickly access the music and movies they desire. Even more than this, smart entertainment devices enable a more seamless, natural way for the user to engage, whether by touch, gesture, or speech. Advantages like this are expected to increase revenue growth of the segment.
Below USD 25 smart home device segment accounted for the largest revenue share in 2021. Anyone can increase their home’s intelligence with the most affordable smart home appliances without spending a fortune. There are several reasonably priced devices that can be used to switch on lights, adjust the temperature, play music, and even keep a check on the house while the homeowner is away. For instance, one of the finest inexpensive smart home …….