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Smart Home is a convenient home setup that has appliances and devices that can be controlled remotely by the owner in any location with an internet connection using a mobile or other networked device.
Global Smart Home Market Analysis, 2020 research report depicts a deep-dive market analysis of statistics of Global Smart Home market which consists of regional and country-wise market size, market forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
According to MarkNtel Advisors’ research report titled “Global Smart Home Market Analysis, 2020”, the Global Smart Home market is anticipated to grow at a CAGR of around 10.1% during 2020-25F. Based on technology, Wi-Fi, Bluetooth, and Ethernet acquired the highest market share in the Global Smart Home Market in 2019 owing to the rising rate of adoption of various smart home products such as lighting, HAVC and entertainment control such as Alexa, Google which are operated by smart gadgets via these technologies.
Entertainment Segment Accounted for the Majority Market Share
Based on product, entertainment control acquired the majority market share in the Global Smart Home market in 2019. In order to enhance overall customer experience, the market players have come up with various streamline control of audio and video devices. In addition, the advancement in wireless communication technologies for home theater system control market has accelerated the adoption of numerous smart entertainment devices like smart TVs, smart home theatres, and gadgets such as Amazon Echo.
Moreover, the demand for lighting control product is also growing rapidly due to surging electricity cost which is encouraging the consumers to install energy saving lighting devices. Besides this, the boost in the demand for smart plugs and smart hubs among the consumers is expected to significantly impact the growth of Smart Home market globally in the near future as stated in the MarkNtel Advisors’ research report “Global Smart Home Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Global Smart Home market include Samsung, Philips, Honeywell, ADT, Emerson, Electrolux, Siemens, ABB, Schneider Electric, Cisco, Microsoft, General Electric, Lutron etc.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Global Smart Home Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of Global Smart Home Market during 2020-25?
A. The growth rate of Global Smart Home Market during 2020-25 is forecast to be grow at a CAGR of 10.1%.
Q. Who are the key competitors or players operating in Global Smart Home Market?
A. Samsung, Philips, Honeywell, ADT, Emerson, Electrolux, Siemens, ABB, Schneider Electric, Cisco, Microsoft, General Electric, Lutron etc., are few of the leading players in the Global Smart Home Market.
Q. Which product segment would emerge as an opportunity area for players in Global Smart Home Market?
A. Entertainment control is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in Global Smart Home Market?
A. Asia-Pacific grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for market players of Global Smart Home Market.
