Building & Construction Market Research News

What's new in Smart Home industry for 2019-2025?

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Global Smart Home Industry is further estimated to grow at a CAGR of 13.08% from 2018 to reach USD 124.57 Billion by the year 2025. North America region holds the highest Industry share in 2017 and Asia-Pacific Industry is considered as the fastest growing Industry in the forecasted period.

At a country level, developed Industry’s like the U.S. as well the emerging Industry’s like China with highest population base holds a notable Industry share in 2017 and it is projected to grow at a gradual pace in the coming years.

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Major market players in Smart Home Industry are Schneider Electric Se, General Electric Company, Siemens AG, Samsung Electronics Co. Ltd., ABB Ltd., Legrand S.A, Honeywell International Inc., United Technologies Corporation, Johnson Controls Inc., Ingersoll-Rand PLC and other 10 more companies’ detailed information is provided in research report.

Rising research and development expenses to address the changing demand of end users, similarly, growth strategies such as Collaboration between top players like Honeywell and Huawei for developing the smart building projects were adopted. ADT, Vivint, Comcast and AT&T from America and eQ-3, RWE, Verisure and Loxone from Europe are the new entrants which have already established their business in developing smart homes.

This suggests that there are growth opportunities for new entrants in the smart home Industry.

 

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SWOT analysis of Smart Home Industry

Strength:

             Technological advancements in different segments like self-monitored security systems for smart homes

             Government grants provided to promote green buildings and eco-system

Weakness:

             The high cost of switching from existing devices to updated ones

Opportunities:

             Smart Homes provide opportunities for lateral growth to various sub-segments like lighting controllers and in-built data-connectivity technology

Threats:

             Device maintenance issues for the product such as UV purifier and humidifier for smart home

Segmentation done on the basis of Application includes Security & Access, Lighting Control, Heating Ventilation & Air Conditioning, Smart Kitchen, Home Healthcare, Home Appliances, Entertainment of which the Lighting Control segment is expected to hold the highest Industry share during the forecast period. This is increasing due to the investment of government in a smart city project.

Peer-to-peer connections between devices for the autonomous functioning of devices are created by this lighting controller.

By Software

  • • Proactive
  • • Behavioral

By Application

  • • Security & Access
  • • Lighting Control
  • • Heating Ventilation & Air Conditioning
  • • Smart Kitchen
  • • Home Healthcare
  • • Home Appliances
  • • Entertainment

By Region

North America

  • • USA
  • • Canada

Europe

  • • Germany
  • • U.K.
  • • France
  • • Italy
  • • Rest of Europe

APAC

  • • China
  • • India
  • • Japan
  • • Rest of Asia-Pacific

RoW

  • • Latin America
  • • Middle East & Africa

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