The Middle East Smart Homes Market is projected to grow at a CAGR of 24% in the forecast period of 2021-26, says MarkNtel Advisors in their recent research report. The market is driven primarily by favorable government policies across different countries for encouraging energy efficiency across facilities & equipment & laying out various smart city development projects across the Middle East.
Smart home devices require a smartphone application or a web portal as a user interface to interact with the device. In line with increasing concerns associated with home security, the demand for smart home solutions like security & access regulators is swiftly rising across the region.
Additionally, the burgeoning use of solutions like entertainment controls, Heating, Ventilation, & Air Conditioning (HVAC) controllers, & smart lighting systems, among others, for better living experience & comfort, are other crucial aspects driving the market, further states the research report, “Middle East Smart Homes Market Analysis, 2021.”
HVAC to Remain a Prominent Contributor to the Market Growth through 2026
Based on the Product Type, HVAC Controls significantly contributed to the Middle East Smart Homes Market growth and shall prevail the same trend during the forecast period. It owes primarily to new government regulations associated with energy efficiency, i.e., opening gateways to the smart HVAC control systems for advanced heating & air conditioning in buildings.
Additionally, the rapidly changing climatic conditions and the mounting demand for cooling systems across different types of facilities is another aspect propelling the adoption of Smart HAVC systems & fueling the overall market growth across the Middle East.
Moreover, reducing costs of IoT-based sensors shall encourage several Original Equipment Manufacturers (OEMs) to offer Smart HVAC control systems at lower & competitive prices, which, in turn, would positively influence the market growth over the forecast years.
With Rising Use of IoT in Smart Home Solutions, UAE to Reign the Middle East Smart Homes Market through 2026
Geographically, of all countries in the Middle East, UAE is anticipated to dominate the Smart Homes Market with the largest share during the forecast period. UAE is witnessing an increasing penetration of technologies like the Internet of Things (IoT) in smart home solutions to control domestic appliances & services like complex heating & lighting systems, home security & alarms controls, etc., all linked by a central hub & operated through a mobile app.
Additionally, various ongoing constructions of smart cities, luxurious villas, societies, etc., across the UAE, coupled with the growing awareness among consumers regarding smart home solutions, are other crucial aspects projected to boost the market during 2021-26, cites MarkNtel Advisors in their research report, "Middle East Smart Homes Market Analysis, 2021."
Leading Companies in the Market
According to MarkNtel Advisors, the leading players 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.
Key Questions Answered in the Study