Smart home is the term commonly used to define a residence that has multiple devices connected and controlled via a home network or mobile device and provides advanced automated security and home services such as auto functioning of household equipment, automatic air conditioning, automatic door locking, utilization of renewable energy sources for home appliances, energy conservation, perimeter surveillance and many others. This technology provides homeowners with security, comfort, energy efficiency and convenience.
Europe has always been a lucrative market with a high rate of technology adoption and ICT infrastructure readiness for industry participants. Some of the prominent players in the market are ABB Ltd., Centrica PLC, Ingersoll-Rand PLC, Johnson Controls International PLC, Legrand, ROCKETHOME GmbH, Schneider Electric, Siemens Building Technologies, Signify Holding, Teletask BVBA and others.
The European market for has been segmented based on country, component, network technology and application. The market by country is segmented into Germany, the U.K., France, the Netherlands, Italy and the rest of Europe. Based on network technology, the European smart home technologies market segments include wired systems, power line communication systems, cable and satellite, and wireless systems. By component, the market is segmented into software, hardware and services. By application, the market is segmented into HVAC, lighting, water management, elevators, parking, entertainment, fire safety, safety and security, and others.
Europe’s market for smart home technologies was valued at REDACTED in 2017 and is expected to reach REDACTED by 2023, growing at a compound annual growth rate (CAGR) of REDACTED from 2018 to 2023. Germany accounts for the largest share of the European market, followed by the U.K. The rest of Europe is expected to grow at the fastest CAGR, due to the increase in the technological adoption of home automation technologies in countries such as Austria, Switzerland, Sweden and others.
This report represents an in-depth analysis of the European smart home technology market by component, network technology and application. It discusses the different segments of smart home technology and provides specific market estimations. It discusses a comparative study of how the technology has improved people’s lives and saved energy. The report also discusses strategies adopted by major players in the European smart home technology market.
- An overview of the European market for smart home technologies
- Analyses of global market trends, with data from 2017, 2018 and projections of CAGRs through 2023
- Country-specific data and analysis for Germany, United Kingdom, France, Netherlands and Italy
- Insight into the advantages offered by smart home technology
- Information on how smart home technology improves energy efficiency and increases home security
- Discussion about increase in internet penetration as a driving force to the smart home technology
- Company profiles of the major players of the market, including ABB Ltd., Centrica Plc, Ingersoll-Rand Plc, Johnson Controls International Plc, Schneider Electric and Siemens Building Technologies