Smart Home Market Size, Design, Growth Analysis, Present Trends and Forecast to 2027

The major growth driver of Smart Home Market includes growing awareness among consumers about energy conservation, growing aging population, rising disposable income in developing countries, and government initiatives among others.

Hence the market for Smart Home is expected to grow at high CAGR (2016-2027).

However, high installation cost, and lack of skilled expertise are the factors which are hindering the growth of Smart Home Market.

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Segments

Global Smart Home Market can be segmented as follows:

Segmentation by Product: Security & control (smart shutters, smart detectors, smart doorbell, smoke alarm and others), Home appliances (smart coffee maker, smart AC, robot vacuum cleaner and others), and Entertainment & connectivity (smart TV, home plugs, routers, smart set top box and others) among others.

Segmentation by Technologies: Protocol, Network and wireless among others.

Key Players

Some of the major players in Global Smart Home Market include Honeywell (U.S.), Danfoss (Denmark), Nest (U.S.), Ecobee (Canada), AT&T (U.S.), Cisco (U.S.), Samsung (South Korea), Liricco Technologies (Hong Kong), MMB Networks (Canada) and Time Warner Cable (U.S.) among others.

Industry News:

• O2, UK mobile operator has announced in January 2016 about its partnership with AT&T to provide smart home applications to the consumer.
• Ecobee and Sun power has announced in year 2016 about its new program where both the companies are teaming up to provide help to consumers in taking control of their electricity cost.
• AT&T and Ericsson are planning to provide digital life with wireless home security and automation to their consumers. For this Ericsson would provide sales channels to AT&T so that to provide digital platform to the consumers.

Regional Analysis of Smart Home Market:

North-America dominated the Global Smart Home Market with the largest market share due to growing demand for home healthcare and increasing population in the region, and therefore accounting for high million and is expected to grow over billion by 2027. Smart Home Market in European market is expected to grow at high CAGR from high million in 2016 to high million by 2027.

Americas

• North America
• US
• Canada
• Latin America

Europe

• Western Europe
• Germany
• France
• U.K
• Rest of Western Europe
• Eastern Europe

Asia– Pacific

Asia

• China
• India
• Japan
• South Korea
• Rest of Asia Pacific

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The Middle East& Africa

The report for Smart Home Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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