Global smart shade devices market is estimated to grow with approximately 58.62% CAGR during the year 2019-2027 and is expected to reach $640,427 thousand by 2027. The base year considered for the study is 2018 and the forecast period is 2019-2027.
Smart motorized shades help in controlling the sunlight and heat loss in home naturally throughout the day by opening and closing at pre-programmed times. The important driver increasing growth in the global smart shade devices market is the increasing adoption of motorized shades.
With smart home technology, the smart motorized shades can be operated automatically by setting time as when they need to open and close based on temperature and sunlight that maximizes the energy efficiency. Motorized shades adoption is increasing as these motorized shades allow to automate a particular task repetitively.
The fact that smart shade devices can be remotely controlled or set the functionality through any handheld devices is increasing their adoption in this segment. Moreover, since the smart buildings are a part of smart cities and therefore, substantial investments in smart cities are expected to boost the deployment of smart shades thereby, driving the global smart shades market growth by Wi-Fi technology segment.
Geographically, the global smart shade devices market has been segmented on the basis of four major regions, namely, North America, Europe, Asia Pacific, and the remaining countries collectively forming the Rest of World.
North America contributed to the largest market share of 38.91% in the year 2018. The dominance of North America is attributed to the presence of the majority of the key market players in the region. However, this market is highly saturated.
As a result, the highest CAGR is expected from the Asia-Pacific market. Countries such as Singapore, China, Japan, and India are emerging as lucrative investment destinations for smart shade device markets.
Insolroll Inc., Springs Window Fashions LLC, Qmotion Shades, Vertilux Ltd., Hunter Douglas, Coulisse B.V., Denver Shade Company, Somfy Systems, Inc., Guangzhou Misdar Shade Co. Ltd., Loxone, Pella Corporation, Appeal Home Shading, Skyco Shading Systems, Inc., BTX Intelligent Fashion, LLC, and Lutron Electronics, Inc. are the companies that are extensively profiled in the report. Company profiles cover the analysis of important players. These companies are using organic and inorganic strategies for growth.