smart home market Industry report – Size, Value, smart home market Share – Research and Analysis 2021

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smart home market Rising need for energy efficiency in homes to minimize energy bills and carbon emissions and increasing government initiatives regarding green buildings are key factors driving global smart home market growth

The global smart home market size is expected to reach USD 184.10 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to rising need for improved energy efficiency in homes to minimize energy bills and carbon emissions. Consumers are increasingly adopting smart home systems as these allow monitoring and control of energy usage more efficiently. Home automation systems allow homeowners to control their appliances with the help of smartphone apps and eliminate power consumption of unattended appliances and devices when not in use. Rising need to minimize negative environmental effects and increase utilization of resources is increasing adoption of smart buildings.

The new report titled ‘Global smart home market’, published by Emergen Research, is methodically curated by our team of analysts, keeping readers’ understanding in mind, and includes a wide-ranging database of distribution. The report takes a closer look at the historical and current market scenarios to accurately predict the global smart home market outlooks over the forecast duration (2021-2028).

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Some Key Highlights from the Report

  • In August 2020, Google announced that it had taken an investment stake in alarm company ADT and also signed a deal to tie ADT’s installer network to the Google ecosystem of smart home products. The deal is expected to help Google by bringing professional installers into the homes of consumers to resell and install Google’s products and also help ADT by giving it a lower cost-cost security offering.  
  • Behavioral segment accounted for largest revenue share in 2020. Behavioral software and service is increasingly utilized in smart homes as it helps in increasing energy efficiency of homes and minimizes energy bills based on behavioral data analysis.
  • North America accounted for largest revenue share contribution to the global smart home market in 2020. Rising adoption of smart home technology to increase energy efficiency and minimize energy bills is expected to drive market growth during the forecast period.

 The report offers a complete analysis of the global Smart Home market on a global and regional scale and offers a forecast for the market for 8 years. The report provides extensive coverage of the market drivers, restraints, limitations, growth prospects, threats, opportunities, and current and emerging trends in the market. The report also offers an in-depth analysis of the market players along with their business overview, product portfolio, technological advancements, expansion plans, financial standing, and global position. It also sheds light on the collaborations in the competitive landscape, such as mergers and acquisitions, joint ventures, collaborations, product launches, brand promotions, corporate and government deals, licensing agreements, and others.

To know more about the Smart Home report, visit @ https://www.emergenresearch.com/industry-report/smart-home-market

Key companies profiled in the Smart Home report include:

Honeywell, Siemens, Johnson Controls, Schneider Electric, Amazon, Apple Inc., ADT Security Services, Robert Bosch, Assa Abloy, and ABB.

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The report further covers comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a complete understanding of the competitive landscape and scenario of each market player. The report also provides an in-depth analysis of the applications and product types offered in the market.

Emergen Research has segmented the global smart home market on the basis of software and service, product, and region:

Software and Service Outlook (Revenue, USD Billion; 2018–2028)

  • Behavioral
  • Proactive

Product Outlook (Revenue, USD Billion; 2018–2028)

  • Energy Management
  • Lighting Systems
  • Security Surveillance
  • HVAC Control
  • Entertainment Control
  • Others

To get leading market solutions, visit the link below: 

https://www.emergenresearch.com/industry-report/smart-home-market

Regional Analysis:

Regional analysis includes an in-depth study of the key geographical regions to gain a better understanding of the market and provide an accurate analysis. The regional analysis covers North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The regional analysis covers the analysis of key market segments, including revenue, CAGR, import/export, supply and demand ratio, production and consumption ratio, industrial chain analysis, and market dynamics in each region of the geographies.

ToC of the report:

Chapter 1: Market overview and scope

Chapter 2: Market outlook

Chapter 3: Impact analysis of COVID-19 pandemic

Chapter 4: Competitive Landscape

Chapter 5: Drivers, Constraints, Opportunities, Limitations

Chapter 6: Key manufacturers of the industry

Chapter 7: Regional analysis

Chapter 8: Market segmentation based on type applications

Chapter 9: Current and Future Trends

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Thank you for reading our report. Please get in touch with us for further queries about the report and our team will assist you according to your needs.

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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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