Smart Home Market 2023-2028, Size, Share, Growth, Report and Forecast
According to MarkNtel Advisors Report, the Global Smart Home Market is projected to grow at a CAGR of around 23.8% during the forecast period, i.e., 2023-28.
Smart Home Market research is an ongoing process. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
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Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-2028
Smart home devices are prone to hacking tools as all the data associated with a user's personal information, physical safety, & healthcare is stored virtually on the cloud, which increases the chances of data breaches that hackers can use to victimize homeowners. Moreover, data generated by smart wearables & appliances can provide cyber attackers with a massive amount of targeted personal information that can be manipulated potentially for fraudulent transactions or identity theft. Hence, these aspects are projected to act as major growth restraints for the market during 2023-28.
The top companies of the Smart Home market ruling the industry are:Â
ABB Ltd.
AMX
Johnson Controls
United Technologies Corporation
Emerson Electronics Co.
Honeywell
Ingersoll-Rand PLC
Legrand S.A.
Lutron Electronics, Inc.
Schneider Electric S.A.
Siemen AG
Tyco International Ltd.
Robert Bosch GmbH
Siemens
Samsung
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The report has segmented the market into the following categories:
By Technology
Cellular Network Technologies
Protocols and Standards
Wireless Communication Technologies
By Software & Service
Behavioral
Proactive
By Product Type
Entertainment Controls
Audio, Volume and Multimedia Room Controls
Home Theater System Control
Touchscreen and Keypads
Security & Access Control
Video Surveillance
Hardware
Software
Services
Access Control
Non-Biometric Access Control
Biometric Access Control
HVAC Control
Smart Thermostats
Sensors
Actuators
Dampers
Control Valves
Heating and Cooling Coils
Pumps & Fans
Smart Vents
Smart Home Appliances
Smart Washer
Smart Dryers
Smart Water Heaters
Smart Vacuum Cleaners
Smart Kitchen
Smart Dishwashers
Smart Refrigerators
Smart Cookers
Smart Ovens
Smart Coffee Makers
Smart Kettles
Smart Lighting Control
Dimmers
Switches
Relays
Daylight Sensors
Timers
Others
Smart Furniture
Smart Tables
Smart Stools and Benches
Smart Sofas
Smart Chairs
Smart Desks
Others (Smart Plugs, Smoke Detectors, Smart Meters)
Entertainment Controls are anticipated to dominate the market with the largest share during 2023-28. This growth is driven primarily by the improving economic conditions of their people and their inclination toward the utilization of wireless communication & cellular technology advancements. As a result, the demand for device controls like Audio, Volume & Multimedia Room Controls, Home Theater System Control, and Touchscreen & Keypads, among others.
By Region
North America
South America
Europe
Middle East & Africa
Asia-Pacific
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What are the industry's overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
What are the trends influencing the current scenario of the market?
How has the Smart Home industry been evolving in terms of geography & adoption?
Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
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