The report on global smart home market provides qualitative and quantitative analysis for the period of 2016 to 2024. The report predicts the global smart home market to grow with a CAGR of 27% over the forecast period of 2018-2024. The study on smart home market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific and RoW for the period of 2016 to 2024.
Security, convenience, and energy efficiency drives the growth of the smart home market. In addition, IoT segments are growing, as smart home is becoming a trend in machine-to-machine and IoT technologies Smart homes vertical is witnessing a major action. Variety of sensors can be easily connected to the cloud at affordable prices. Moreover, Smart Gadgets with augmented reality and Virtual reality platforms are now interacting with customers in day-to-day life, which is likely to fuel the growth of the smart home market. As these wearable gadgets are closely associated with the users, the smart home value chain players are targeting these smart gadgets for integrating their smart appliances. However, lack of standards and non-availability of high speed and reliable Internet services are hampering the growth of the smart home market. Furthermore, With the IoT saturation, more and more connected device will appear in the market. The more the number of the device the stronger should be the security aspects to protect from threats. This creates an opportunity for cyber security companies.
Among the geographies, North America dominated the global smart home market and Europe is anticipated to be fastest growing region. The growth in the North American region is due to factors such as increasing demand for reliable home energy management systems and growing popularity of integration of smart devices such as tablets and smartphones in smart home solutions. Moreover, South Korea held the largest position in the Asia Pacific regions. On the other hand, The UK government mandates energy suppliers to install smart meters in 26 million homes with the aim that every household in England, Wales, and Scotland will have a smart meter by 2020.
The report on smart home market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global smart home market over the period of 2016 to 2024. Moreover, the report is collective presentation of primary and secondary research findings.
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 of 2016 to 2024. Further, IGR- Growth Matrix given in the report brings an insight on the investment areas that existing or new market players can consider.
A) Primary Research
Our primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached through
1. Key Opinion Leaders associated with Infinium Global Research
2. Internal and External subject matter experts
3. Professionals and participants from LinkedIn, Hoovers, Factiva and Bloggers
Our primary research respondents typically include
1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/ country managers
5. Vice President level executives.
B) Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.
The secondary sources of the data typically include
1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
The global smart home market is segmented on the basis of product type.
Global Smart Home Market by Product Type
• Security & Surveillance System
• Lighting Systems
• HVAC&R Control
• Energy Management
• Entertainment Control
• General Electric
• United Technologies Corporation
• Johnson Controls Inc.
• Cisco Systems Inc.
• LG Electronics Inc.
• Siemens AG
• Schneider Electric SE
• Honeywell International Inc
• Emerson Electric Corporation
• ABB Ltd
How this report delivers?
1. Comprehensive analysis of global as well as regional markets of smart home market.
2. Complete coverage of all the segments in smart home market to analyze the trends, developments in the global market and forecast of market size up to 2024.
3. Comprehensive analysis of the companies operating in global smart home market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. IGR- Growth Matrix presents analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.