Smart Home is gaining traction at a robust rate on account of increasing adoption of smart solution and rising digitalization. The Middle East Smart Homes market is growing at a high rate owing to launch of smart home solutions such as smart audio, camera, lock, printer, speaker etc., for customers and increasing partnership among companies to introduce the smart home platform to enable people to manage their personal smart home ecosystem. Besides this, burgeoning adoption of smart technologies such as AI, IoT, increasing government sending on numerous smart home project and snowballing inclination of telecom service providers to offer smart homes integrated product through connectivity, networking, and mobile apps that connect to devices and kitchen appliances are anticipated to fuel the growth of the market over the forthcoming timeline.
According to MarkNtel Advisors’ research report “Middle East Smart Homes Market Analysis, 2021”, the Middle East Smart Homes market is anticipated to grow at a CAGR of 24% during 2021-26F. Based on Product Type, Security & Access Control segment is projected to grab considerable market share over the forecast period during 2021-26F. The adoption of video surveillance and access control such as cameras, IP-enabled devices, iris detection systems, and wireless locks are escalating for home monitoring due to growing security concern. Besides this, HVAC Control segment is also growing at an astronomical rate due to burgeoning inclination towards the deployment of technological advance product such as motion sensing, air conditioner, sensors and smart thermostats on account of soaring government initiatives towards energy efficiency.
“Middle East Smart Homes Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Smart Homes providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
UAE Attain the Highest Market Share
UAE is expected to attain the highest CAGR in the Middle East and Africa Smart Homes market over the forecast period. The growth is attributed are rising government initiative such as Smart Dubai, Smart Homes for civilians, increasing government investment in smart cities and propelling collaboration with a Chinese tech firm to build smart homes. Moreover, escalating internet connectivity, mounting inclination towards energy efficiency and increasing customer preferences for networked and high-tech home due to rising in per capita income. Therefore, these are predicted to boost the growth of Smart Homes market in the forthcoming period as stated by the MarkNtel Advisors’ research report “Middle East Smart Homes Market Analysis, 2021”.
According to MarkNtel Advisors’, the key players with a considerable market share in the Middle East Smart Homes market are ABB Ltd., Johnson Controls, United Technologies Corporation, Emerson Electronics Co., Honeywell International, Inc., Legrand S.A., Lutron Electronics, Inc., Schneider Electric S.A., Siemen AG, Robert Bosch GmbH, Samsung Electronics Co., Ltd., Haier Group, Crestron Electronics, Inc., LG Electronics, Inc. etc.
Key questions answered in the study: