Global Smart Home Devices Market Report 2022: 17.5% YoY | Jobs Reply


Dublin, Sept. 01, 2022 (GLOBE NEWSWIRE) — The “Global Smart Home Devices Market Report 2022, by Technology, by Application, by Sales Channel” report has been added. ResearchAndMarkets.com’s offering.

The global smart home devices market is expected to grow from $78.44 billion in 2021 to $92.48 billion in 2022 at a compound annual growth rate (CAGR) of 17.9%. The market is expected to reach $176.10 billion in 2026 at a CAGR of 17.5%.

The rise in the need to save energy and reduce carbon emissions drives the market for smart home devices. This increase in the need for a sustainable solution was initiated by strict government regulations that introduced a limit on the maximum carbon emissions allowed for each company. Traditional devices use electricity continuously until someone turns them off.

However, in the case of smart home devices, they are equipped with motion sensors that can detect the absence of people in the room for a certain period of time and automatically turn off, saving money and electricity. It helps to reduce carbon emissions by saving the unnecessary use of electrical devices and reducing the power demand on the power stations. For example, according to a study in Europe in 2021, smart building technology can save up to 23% of energy use in office buildings.

High switching costs restrict the growth of the smart home devices market. Smart appliances are expensive and there are other initial costs such as installation and maintenance costs as well. The high cost hinders the acceptance and adoption of smart devices by the customers including many organizations. According to the survey released by the Parks Association in 2021, 44% of the households of the 46.7 million household participants said that the smart devices are too expensive. Furthermore, a smart thermostat in the US costs about $250 while the traditional thermostat costs about $25. The cost factor has a negative impact on the market.

Companies are developing voice assistants to control smart home devices. Voice assistants are digital assistants that respond to voice commands and respond with relevant information. They are different from the traditional keyboard-based searches. They put more emphasis on the conversational phrase of any topic and prioritize the long tail keywords for any search. For example, Amazon and Google have launched their own voice assistants in their respective smart speakers. Amazon has launched Alexa Voice Assistant in its Echo smart speaker and Google has launched ‘Google Assistant’ voice assistant for its Google Home smart speaker.

Scope
Markets Covered:1) By Technology: Wi-Fi Technology; Bluetooth technology
2) Three Applications: Energy Management; Climate Control System; Health Care System; Home Entertainment System; Lighting Control System; Security & Access Control System
3) By Sales Channel: Online; Offline

Main Topics Covered:

1. Executive summary

2. Smart Home Devices Market Characteristics

3. Smart Home Devices Market Trends and Strategies

4. Impact of COVID-19 on Smart Home Devices

5. Smart Home Devices Market Size and Growth

6. Smart Home Devices Market Segmentation

7. Regional and Country Analysis of Smart Home Devices Market

8. Asia-Pacific Smart Home Devices Market

9. China Smart Home Devices Market

10. India Smart Home Devices Market

11. Japan Smart Home Devices Market

12. Australian Smart Home Devices Market

13. Indonesia Smart Home Devices Market

14. South Korea Smart Home Devices Market

15. Western Europe Smart Home Devices Market

16. UK Smart Home Devices Market

17. Germany Smart Home Devices Market

18. France Smart Home Devices Market

19. Eastern Europe Smart Home Devices Market

20. Russian Smart Home Devices Market

21. North America Smart Home Devices Market

22. US Smart Home Devices Market

23. South America Smart Home Devices Market

24. Brazil Smart Home Devices Market

25. Middle East Smart Home Devices Market

26. Africa Smart Home Devices Market

27. Home Appliances Market Competitive Landscape and Company Profiles

28. Major Mergers and Acquisitions in the Smart Home Devices Market

29. Smart Home Devices Market Future Outlook and Potential Analysis

30. Appendix

Mentioned Companies

  • ABB Ltd.
  • General Electric Company
  • Johnson Controls Inc.
  • Siemens AG
  • Schneider Electric SE
  • Honeywell International
  • LG Electronics
  • Emerson Electric Corporation
  • BSH Hausgerate GmbH
  • Amazon Inc.
  • Google
  • Apple Inc.
  • Panasonic Corporation
  • ADT
  • Legrand SA
  • General Electric
  • Contra4
  • Crestron Electronics
  • Philips
  • Control4 Corporation
  • Whirlpool
  • Vivint Smart Home
  • Hitachi Ltd. is
  • Sony
  • Hubbell Inc.
  • A ring
  • nest
  • Alphabet
  • Delta Electronics
  • AB Axis Communications

For more information about this report visit https://www.researchandmarkets.com/r/idr2re

  • Global Smart Home Devices Market


        



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