Smart Home Market Growth is Driven by Increase in Awareness Related to Safety and Security

Smart Home Market Research Report, by Component (Software, Service), Application (Lighting Control, Security Control, HVAC Control, Home Healthcare, Smart Kitchen Home Appliances), Technology (networks, protocols, wireless) — Global Forecast till 2023

Pune, India - June 13, 2019 /MarketersMedia/ —

Market Highlights

Smart homes are backed by computing devices and information technology that integrate various devices in the house to facilitate enhanced convenience, comfort, security, and entertainment in a sustainable way. Previously smart homes were confined to elite class consumers; however, in recent years, smart homes have gained widespread consumer adoption.

The smart home market was initially concerned primarily with advanced security features. However, the market has now ventured into newer segments such as lighting systems, fire detection, energy efficiency systems, gas leakage detection, and entertainment. This has propelled the growth of the market.

Growing disposable income or rising affluence of the middle-class consumers along with growing number of working couples have also reflected positively on the market growth. Since more and more homes stay empty throughout the day, there is an increased need for home automation. The governments in multiple countries are taking concrete steps to promote the construction of smart homes by making policies favorable for builders who are keener on building smart homes.

The smart home market is experiencing increased demand from all quarters; however, energy conservation has been the key factor in influencing the growth of the market. Moreover, the maintenance of smart homes is cheaper than traditional homes. Other factors substantiating the growth of the smart home market include increasing affordability of smart home features, the threat of climate change, and the growing adoption of cloud-based technologies.

On the contrary, the growth of the market might be hindered by the risk of privacy and bugs surrounding smart homes. However, multifarious benefits are likely to aid in overcoming of these hurdles.

Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/974

Segmentation

The global smart home market has been segmented based on component, application, and technology.

By Component, the smart home market has been segmented into software and services. The software segment has been further segmented into behavioral and proactive. The services segment has been further segmented into managed & professional service.
By Application, the smart home market has been segmented into lighting control, security & access control, entertainment & other control, HVAC control, home healthcare, smart kitchen, and home appliances.
The lighting control segment has been further segmented into relays, occupancy sensors, daylight sensors, timers, switches, dimmers, accessories, and other products.

The Security & access control segment has been further segmented into video surveillance and access control. The video surveillance sub-segment has been further segmented into hardware, software, and services.

The HVAC control segment has been segmented into smart thermostats, sensors, control valves, dampers, actuators, heating and cooling coils, pumps & fans, and smart vents.

The entertainment & other control segment has been further segmented into entertainment controls and other controls. The entertainment controls sub-segment has been further segmented into home theater system controls and touchscreens, audio, volume, & multimedia room controls, and keypads.

The home healthcare segment has been further segmented into health status monitors and physical activity monitors.
The smart kitchen segment has been further segmented into smart refrigerators, smart dishwashers, smart coffee makers, smart cooktops, and others.

The home appliances segment has been further segmented into smart water heaters, smart washers, smart dryers, and smart vacuum cleaners.
By technology, the smart home market has been segmented into networks, protocols, wireless. The network segment has been further segmented into CDMA networks, GSM/HSPA networks, LTE networks. The protocols segment has been further segmented into Digital Addressable Lighting Interface (DALI), KNX, Digital Multiplexer (DMX), Ethernet and others. The wireless segment has been further segmented into ZigBee, Z-wave, Wi-Fi, Bluetooth, and others.

Get the Discount @ https://www.marketresearchfuture.com/check-discount/974

Regional Analysis

The smart home market has been segmented into four key regions, namely North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).

North America accounts for a major share of the market and is likely to dominate the market over the forecast period. The existence of leading market players in the region along with heightened demand for home healthcare has led to the proliferation of the smart home market in North America. Moreover, high spending capacity leads to increased spending on the modernization of homes, which boosts the growth of the market.

The APAC smart home market is slated to showcase remarkable growth over the forecast period. fast track urbanization in the region combined with rising disposable income has created abundant demand for smart homes in the region. Adoption of cloud technologies, the growing sophistication of lifestyle, and heightened focus on safety and security are auguring the growth of the market in APAC. Additionally, governments in the region are investing substantially in the development of smart cities which is propelling the growth of the market.

Competitive Landscape

Ingersoll-Rand PLC (Ireland), United Technologies Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), ABB Ltd. (Switzerland), Siemens AG (Germany), Honeywell International, Inc. (U.S.), Legrand S.A. (France), General Electric Company (U.S.), Schneider Electric (France), and Johnson Controls, Inc. (U.S.) are the eminent players in the smart home market.

Industry Updates

May 2019 - Amazon released the latest version of its Echo Show device with enhanced privacy and smart home controls. The new device is now equipped with a camera shutter which is the first of any Amazon's display speakers. In addition, the new allows voice recording to be deleted in a much more simplified way along with a new privacy hub webpage which explains how Echo devices use and store voice recordings. Amazon is also rolling out a new smart home dashboard which would provide users more control over compatible smart home devices and groups.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/smart-home-market-974

Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Website: https://www.marketresearchfuture.com/check-discount/974

Source URL: https://marketersmedia.com/smart-home-market-growth-is-driven-by-increase-in-awareness-related-to-safety-and-security/523923

Source: MarketersMedia

Release ID: 523923

More News From Morning Dispatcher

Egypt's el-Sissi dismisses corruption allegations

Sep 16, 2019

CAIRO — Egypt's president on Saturday dismissed corruption allegations made by a businessman-in- exile about the country's military as "sheer lies and defamation." In viral social media videos posted over the past week, the entrepreneur alleged large-scale misuse of public funds in the building of luxurious hotels, presidential palaces and a tomb for President Abdel-Fattah el-Sissi's mother who died in 2014. "I've built presidential palaces and I will continue to do so," el-Sissi, a general-turned-president, said in televised comments. "I am building a new country. ... All of this is not mine. It's Egypt's." El-Sissi was responding to claims by...

New Saudi energy minister calls for OPEC 'cohesiveness'

Sep 16, 2019

ABU DHABI, United Arab Emirates — Saudi Arabia's new energy minister on Thursday reiterated calls for "cohesiveness" in OPEC ahead of a key meeting in Abu Dhabi. "To achieve market stability, it's important we sustain a high level of cohesiveness," said Prince Abdulaziz bin Salman, speaking at a meeting of the organization's Joint Ministerial Monitoring Committee in Abu Dhabi, the capital of the United Arab Emirates. Crude oil sold for over $100 a barrel in the summer of 2014 before bottoming out below $30 a barrel in January 2016. That fall largely came from a boom in U.S. shale oil...

Rocket blast at US Embassy in Kabul on 9/11 anniversary

Sep 16, 2019

KABUL, Afghanistan — A rocket exploded at the U.S. Embassy in Afghanistan just minutes into Wednesday, the anniversary of the 9/11 attack on the United States, but officials at the compound later declared an all-clear and reported no injuries. A plume of smoke rose over central Kabul shortly after midnight and sirens could be heard. Inside the embassy, employees heard this message over the loudspeaker: "An explosion caused by a rocket has occurred on compound." About an hour later the all-clear announcement was made, with no reports of injuries. There was no immediate comment from Afghan officials or those with...

Iranian female soccer fan dies after setting herself on fire

Sep 16, 2019

DUBAI, United Arab Emirates — An Iranian woman detained for dressing as a man to sneak into a soccer stadium to watch a match has died after setting herself on fire upon learning she could spend six months in prison, semi-official news outlets reported Tuesday. The self-immolation death of 29-year-old Sahar Khodayari has shocked Iranian officials and the public, becoming an immediate hashtag trend across social media in the Islamic Republic. It also comes as FIFA is working with Iranian authorities to overcome a ban on women entering stadiums for men's games, a ban in place since the country's 1979...

US military officials in Turkey for Syria 'safe zone' talks

Sep 16, 2019

ANKARA, Turkey — Turkey's defense ministry says two top U.S. military officials are in Turkey for talks over a planned "safe zone" in northeast Syrian. A ministry statement said a delegation headed by Lt. Gen. Stephen Twitty, deputy commander of the U.S. European Command, and Lt. Gen. Thomas Bergeson, deputy commander of the U.S. Central Command, would meet with Turkish military officials on Tuesday. Their visit comes days after Turkish and U.S. troops conducted their first joint ground patrol of the "safe zone" that Ankara has been pressing for in the Kurdish-administered region. Turkey hopes the buffer zone will keep...

About Us

Get all the up-to-date breaking news about politics, business, entertainment, sports, lifestyles, weather, traffic, and local news in a seamless digital environment only in Morning Dispatcher.

Contact us: sales[at]morningdispatcher.com

Subscribe Now!

Quick Links

HomePress