LONDON, Aug. 18, 2022 (GLOBE NEWSWIRE) — According to the Business Research Company’s research report on the smart home market, the increasing adoption of smart devices is expected to drive the growth of the smart home market. Smart devices are defined as objects used in everyday life and made intelligent through advanced computing techniques such as machine learning and artificial intelligence, which are networked to form the internet of things. These smart home devices can be interconnected and accessed through laptops, smartphones, tablets, or other smart devices.
For example, according to MediaPost, an integrated publishing and conference company based in the US, it is predicted that 15% of households worldwide will have a smart home device installed by 2023. In addition, 69 % of US households. device. Therefore, the increasing adoption of smart devices is driving the growth of the smart home market.
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The global smart home market size is expected to grow from $76.95 billion in 2021 to $91.79 billion in 2022 at a compound annual growth rate (CAGR) of 19.3%. The global smart home market is expected to grow in size $205.61 billion in 2026 at a CAGR of 22.3%.
Technological advances are shaping the smart home market. Technological progress is defined as the discovery of knowledge that advances technology and provides improved products to customers. New technologies such as IoT are being used to provide comfort and reliability to users. For example, in September 2020, Sunroof, an India-based provider of solar energy solutions and (Internet of Things) IoT smart energy solutions, launched zunpulse smart devices. The Zunpulse is designed to protect customers and make their lives more comfortable and secure. The new range of devices launched includes a smart energy monitor, smart plug, smart camera, smart security system, smart AC remote control, smart energy monitor, smart video doorbell, smart LED bulbs, and smart TV remote control.
Major players in the smart home market are Honeywell International Inc, Siemens AG, Johnson Controls International, Schneider Electric SE, United Technologies Corporation, Amazon Inc, Apple, Google, Robert Bosch GmbH, Samsung Electronics, LG Electronics, Sony Corporation, Control4 Corporation, Comcast Corporation, Lutron Electronics Co Inc, Legrand SA, Smart home Inc, General Electric Company, Ingersoll-Rand PLC, Delta Controls, Axis Communications, Crestron Electronics, SimpliSafe, Armorax and Canary.
The global smart home market is segmented by product into lighting control, security and access control, heating, ventilation, and air conditioning control (HVAC), entertainment control and other controls, smart speaker, home healthcare, smart kitchen, home appliances, furniture clever. ; through software and services behaviorally, proactively; three direct, indirect sales channels; by technology into wireless technology, cellular network technology; by standards and protocols into wireless protocols, wired protocols, hybrid protocols.
Asia-Pacific was the largest region in the smart home market in 2021. Asia-Pacific it is expected that the fastest growing region in the global smart home market during the forecast period. The regions covered in the global smart home market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The Global Smart Home Market Report 2022 – Global Market Size, Trends, and Forecast 2022-2026 is one of a series of new reports from the Business Research Company that provides an overview of the smart home market, analyzes and forecasts the size and growth of the market for the overall market, smart home market segments and geographies, smart home market trends, smart home market drivers, smart home market restraints, smart home market leading competitors revenue, profiles and market shares in over 1,000 industry reports, at covering more than 2,500 market segments and 60 geographies.
The report also provides an in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 data sets, extensive secondary research, and exclusive insights from interviews with industry leaders. Market analysis and forecasts are provided by a highly experienced team of analysts and modeling experts. The reports identify the best countries and segments for opportunities and strategies based on market trends and competitors’ pioneering approaches.
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