Smart Home Market 2019 Size, Global Trends, Comprehensive Research Study, Development Status, Opportunities, Future Plans, Competitive Landscape and Growth by Forecast 2024 – iCrowdNewswire
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Apr 17, 2019 11:40 AM ET

Smart Home Market 2019 Size, Global Trends, Comprehensive Research Study, Development Status, Opportunities, Future Plans, Competitive Landscape and Growth by Forecast 2024


Smart Home Market 2019 Size, Global Trends, Comprehensive Research Study, Development Status, Opportunities, Future Plans, Competitive Landscape and Growth by Forecast 2024

iCrowd Newswire - Apr 17, 2019

The global smart home market is segmented based on applications, technology and end users. Applications (security and safety, smart appliances, home entertainment, lighting and control, HVAC, energy management), technology (wired and wireless technology) and end users (residential and commercial) are the major focus areas considered while analysing and defining the penetration of smart home technology in different geographies.

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In 2017, smart appliances dominated the global smart home market with a maximum share in terms of revenue. Based on estimation, the segment occupied a healthy share of 23.7% share. Increasing demand for consumer electronics would help the respective segment to grow at a faster rate of 25% during the forecast period (2018-2024).

Moreover, strong competitiveness, flourishing IoT, spur in product development, RandD activities and dramatic uptake of technological advancements, investments by major peers, rising consumer awareness, spur in smartphone penetration have being significantly contributing in prospering the market size of smart home technology. Owing to this, the global smart home market was valued at US$ 32,171 million during 2017 and is projected to reach US$ 1,40,458.2 million by 2024.

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However, concerns regarding privacy and hacking, high cost involved in complex installation and high prices of smart home devices needs to be addressed globally to experience the never ending growth of smart home market. Furthermore, for better understanding of the industry the report analysis the penetration of smart home devices in different geographies and countries including North America, Europe, Asia-Pacific Latin America and Middle East and North Africa (MENA).

Based on estimation, North America dominated the global smart home market, with more than 53% share in 2017. Positive impact on businesses of smart device manufactures and booming concept of Internet of Things has bolstered the growth of global smart home technology market. Europe and Asia Pacific followed North America with 24.3% and 17.9% shares respectively in 2017.

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Detailed TOC of Global Smart Homes Technology Market: Insights and Forecast, 2018-2024: Emphasis on Application (Safety and Security, Smart Appliances, Heating Ventilating, Air Conditioning (HVAC), Home Entertainment, Smart Lighting Systems, Smart Energy Management)

1 MARKET INTRODUCTION

1.1 Market Definition

1.2 Objective of the Study

1.3 Limitation

1.4 Stakeholders

1.5 Currency used in the Report

  • RESEARCH METHODOLOGY OR ASSUMPTION
  • 2.1 Secondary Data

    2.2 Key Secondary Sources

    2.3 Primary Data

    2.4 Sampling Techniques and Data Collection Methods

    2.5 Primary Participants

  • INDUSTRY PERFORMANCE
  • EXECUTIVE SUMMARY
  • MARKET OVERVIEW
  • 5.1 General Overview of Smart Home Market

    5.1.1 Pricing Analysis of Smart Home Appliances, by Type of Cost

    5.2 Market Dynamics

    5.2.1 Increasing Awareness of Advanced Technology among Consumers

    5.2.2 Increasing Penetration of Smartphones and internet, especially in APAC Region

    5.2.3 Proliferation of Internet of Things, especially in the Emerging Region’s

    5.2.4 Surging Disposable Incomes and Urbanization

    5.2.5 Growing Demand for Smart Home Energy Management System

    5.2.6 Development of Interconnectivity across Platforms and Devices

    5.3 Market Restraints

    5.3.1 Concerns regarding Privacy and Hacking

    5.3.2 Complex Installation and High Price of the Smart Home products 35

    5.4 Opportunities in the Market

    5.4.1 Scope for Insurance companies

    5.4.2 Growth opportunity for Telecom Operators

    5.4.3 Emerging Business Opportunities in Asia-Pacific

    5.4.4 Restoring Independence for Elders

    5.5 Factor Analysis

    5.5.1 Demand and Supply Side Analysis

    5.5.2 Major Development and Investments in the Smart Home Market

    5.5.3 Major development and new Start-ups

    5.5.4 Top Investor in the Smart Home Market

  • MARKET INSIGHTS, BY APPLICATIONS
  • 6.1 General Overview

    6.1.1 Safety and Security

    6.1.2 Smart Appliances

    6.1.3 Heating Ventilating, Air Conditioning (HVAC)

    6.1.4 Home Entertainment

    6.1.5 Smart Lighting Systems

    6.1.6 Smart Energy Management

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