Smart Homes Market Insights, Current And Future Trends & Forecast 2025
Global smart home market was estimated to be USD 48.7 billion in 2016 and is projected to reach USD 125.9 billion by the end of 2025, exhibiting a CAGR of 11.1% during 2016–2025 on account of factors such as rise in the internet of things, increasing penetration of energy-efficient systems and solutions as well as growing demand for real time home security solutions and consumer electronics worldwide. The above stated reasons are likely to positively impact the market in the coming years.
In addition, growing focus of companies towards the development of technologically advanced systems and solutions as well as augmenting demand for smartphones and smart gadgets worldwide are the other major factors fuelling growth of the smart home market, globally. On the basis of application, lighting control segment held the largest share in 2016 due to increased usage of the energy-efficient lighting control systems and solutions by household consumers.
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North America grabbed the largest share in the market in 2016 owing to growing need for advanced security and access control solutions as well as rising usage of smartphones and tablets in smart home solutions. United States’ was estimated to hold the largest share in North America smart home market in the indicated year. On the other hand, Asia-Pacific smart home market is expected to grow at the highest rate during the forecast period owing to the rise in GDP growth rates coupled with soaring disposable income of people of key economies.
The research report “global smart home market” provides in-depth analysis of global smart home market based on application and major geographies from the period 2016 to 2025. The report highlights the major market drivers pushing the growth and challenges faced by market participants. The research report provides market size and forecast for smart home market. Further, the report also analyses the competitive landscape and the major players and their market share in 2016. The competitive landscape section of the report also captures and states the recent development in the market.
Additionally, the report has also covered profiles of the major companies active in the field, including Siemens AG, United Technologies Corporation, General Electric Company, Schneider Electric SE, Honeywell International, Inc., Ingersoll-Rand PLC, Johnson Controls Inc., ABB Ltd., Legrand S.A., Samsung Electronics Co., Ltd., Sony Corporation, Panasonic Corporation and LG Electronics.
Global Smart Home Market Application
• Lighting Control
• Security and Access Control
• HVAC Control
• Home Healthcare
• Home Appliances
• Entertainment & Other Control
Global Smart Home Market by Geography
• North America (US and Canada)
• Europe (Germany, France and the U.K.)
• Asia-Pacific (China and Japan)
Global Smart Home Market Competitive Landscape
• Major Players and their Business Strategies
• New product launches
• Mergers and acquisitions
• Collaborations, partnerships, agreements and joint ventures
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