Smart Home Market Estimated to Touch USD 254.78 Billion by 2030 with a CAGR of 12.3% – Report by Market Research Future (MRFR) – Yahoo Finance

Market Research Future

Growing Demand for Home Automation Technologies to Boost Smart Home Market Growth

New York, US, April 21, 2022 (GLOBE NEWSWIRE) — Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Smart Home Market” information by Component, by Application and Region – Forecast to 2030” market size to reach USD 254.78 billion, growing at a compound annual growth rate of 12.3% by 2030.

Market Scope:
The increasing adoption of various security solutions such as surveillance systems, video doorbells, and voice-assisted technologies like Google Home & Alexa will offer robust opportunities for the market over the forecast period.

Dominant Key Players on Smart Home Market Covered are:

  • Honeywell International (US)

  • Johnson Controls (Ireland)

  • Siemens AG (Germany)

  • Schneider Electric (France)

  • UTC (US)

  • Google LLC (US)

  • Amazon (US)

  • Apple Inc. (US)

  • ADT Inc. (US)

  • Assa Abloy (Sweden)

  • Dahua Technology (China)

  • ABB Ltd (Switzerland)

  • Robert Bosch (Germany)

  • Axis Communication (Sweden)

  • Samsung Electronics (South Korea)

  • Panasonic Corporation (Japan)

  • Legrand SA (France)

  • CP Plus Inc. (India)

  • Hangzhou Hikvision Digital Technology Co. Ltd (China)

  • General Electric (US)

Get Free Sample PDF Brochure:
https://www.marketresearchfuture.com/sample_request/974

Market USP Exclusively Encompassed:
Market Drivers
Growing Demand for Home Automation Technologies to Boost Market Growth
The growing need for home automation technologies will boost smart home market growth over the forecast period. Traditional home systems were created with a limited level of connectivity in mind. Users were also restricted to operating systems that fell inside a specific range. The emergence of smart home technology, on the other hand, is opening up a whole new universe of possibilities. It has made advantage of connection to allow owners to access their properties remotely. According to Investopedia, there are around 175 million smart homes worldwide. The most recent application trend blends artificial intelligence and automation to give household assistance in a novel and inventive method. These most recent developments ensure both powerful technical gadgets and security.

High Cost to Remain Market Restraint
The high price of switching for existing smart device consumers coupled with the issues associated to device malfunctioning & breaches in privacy and security may act as restraints for smart home market over the forecast period.

Compatibility Issues to act as Market Challenge
The compatibility issues amid devices of various companies may act as a challenge for smart home market over the forecast period.

Browse In-depth Market Research Report (288 Pages) on Smart Home Market:
https://www.marketresearchfuture.com/reports/smart-home-market-974

Segmentation of Market Covered in the Research:
The global smart home market is bifurcated based on component.

By component, hardware will lead the smart …….

Source: https://finance.yahoo.com/news/smart-home-market-estimated-touch-130600520.html

Tags:

Leave a Comment

Your email address will not be published.