Smart Home Market to Eyewitness Promising CAGR Growth of 22.80% by 2029, Analysed by key Players, Future Trends, Share, Revenue Outlook, Industry Growth and Applications – GlobeNewswire

MUNICH, GERMANY, July 19, 2022 (GLOBE NEWSWIRE) — The comprehensive industry research on Global Smart Home Market published by Data Bridge Market research includes growth analysis, regional marketing, challenges, opportunities, and drivers analyzed in the report. The market insights covered in the Smart Home report simplify managing marketing of goods and services effectively. Here, the market overview is given in terms of drivers, restraints, opportunities, and challenges where each of these parameters is studied scrupulously. All the data and statistics provided in this market report are backed up by the latest and proven tools and techniques such as swot analysis and Porter’s Five Forces Analysis. With the latest and updated market insights mentioned in the report, businesses can concentrate to enhance their marketing, promotional, and sales strategies.

Global Smart Home Market was valued at USD 121.82 million in 2021 and is expected to reach USD 680.90 million by 2029, registering a CAGR of 22.80% during the forecast period of 2022-2029. The “home appliances” accounts for the largest product type segment in the smart home market within the forecasted period owing to the market availability of wireless solutions that have enabled smart appliances to connect with smartphones and tablets wirelessly via the Internet or Bluetooth. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

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Industry Overview:-

Smart home devices are appropriate for a home setup in which devices may be operated remotely using a mobile or other networked device from any Internet-connected location in the world. The consumer may control services such as security access, temperature, lighting, and home entertainment in a smart home because all of its gadgets are connected to the Internet.

The number of internet users has risen in the last year, with over 1 million individuals going online every day for the first time since January 2018. The increased internet usage has led to the increased adoption of smart homes around the world. The growing inclination for a luxurious lifestyle in developing countries and increased internet penetration have largely helped the arket gain traction over the past few years. Therefore, the continuous internet penetration will also aid the market to grow immensely over the forecasted period.

The top Players Analysed in the Report are:-

  • Honeywell International Inc. (U.S.)
  • Siemens (Germany)
  • Johnson Controls (Ireland)
  • Axis Communications AB (Sweden)
  • Schneider Electric (France)
  • ASSA ABLOY (Sweden)
  • Amazon (U.S.)
  • Apple Inc., (U.S.)
  • ADT (US)
  • ABB (Switzerland)
  • Robert Bosch GmbH (Germany)
  • Sony Corporation (Japan)
  • Samsung (South Korea)
  • Ooma Inc., (U.S.)
  • Delta Controls (Canada)
  • Comcast (U.S.)
  • Crestron Electronics Inc., (U.S.)
  • SimpliSafe Inc., (U.S.)
  • Armorax (U.S.)
  • LG Electronics (South Korea)
  • Lutron Electronics Co., Inc (U.S.)
  • Legrand (France)

Porter’s five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global Smart Home market over the period. Further, Growth Matrix gave in the report brings …….

Source: https://www.globenewswire.com/news-release/2022/07/19/2481945/0/en/Smart-Home-Market-to-Eyewitness-Promising-CAGR-Growth-of-22-80-by-2029-Analysed-by-key-Players-Future-Trends-Share-Revenue-Outlook-Industry-Growth-and-Applications.html

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