The smart home market in APAC is expected to grow at a high rate between 2017 and 2023.

The smart home market in APAC is expected to grow at a high rate between 2017 and 2023, owing to the rising number of new residential projects and the increasing initiatives to strengthen the building infrastructure in the region. The presence of a huge end-user base in advanced economies such as Japan and South Korea and the growing demand for energy management systems are also expected to fuel the growth of the smart home market in this region.

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The major companies operating in the smart home market include Siemens AG (Germany), United Technologies Corporation (US), General Electric Company (US), Schneider Electric (France), Honeywell International, Inc.  (US), Ingersoll-Rand PLC (Ireland), Johnson Controls, Inc.  (US), ABB Ltd.  (Switzerland), Legrand S.A. (France), Samsung Electronics Co., Ltd. (South Korea), Acuity Brands, Inc. (US),  Lutron Electronics Co. Inc. (US), and Leviton Manufacturing Company, Inc. (US).

The market for smart homes was valued at USD 54.97 Billion in 2016 and is expected to grow at a CAGR of 13.61% between 2017 and 2023. The key drivers contributing to the growth of this market include significant advancements in the IoT market; increasing need of the consumer for convenience, safety, and security; and rising need for energy saving and low carbon emission-oriented solutions.

The smart home market, on the basis of product, has been segmented into lighting control, security & access control, HVAC control, entertainment & other controls, home healthcare, smart kitchen, and home appliances. Lighting control held the largest share of the smart home in 2016. The growth of this market can be attributed to the capability of lighting control to reduce electricity consumption in homes as the sensors adjust the intensity of artificial light according to the intensity of natural light. Entertainment has become an important part of life as it provides relaxation and rejuvenation. The most important feature of entertainment control is the ability to integrate multi-room entertainment systems. The major controls used to control and regulate the entertainment systems in smart homes are audio, volume, and multimedia room controls.

The growth of the market for audio, volume, & multimedia room controls is driven by the convenience offered by these controls for managing as well controlling the entertainment systems within a house. The advancements in wireless communication technologies is a major factor boosting the growth of the market for home theater system controls, thereby driving the overall market for entertainment controls.

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North America held the largest share of the global smart home market in 2016, owing to the factors such as increasing demand for reliable home energy management systems, enhanced home security levels, and growing popularity of integration of smart devices such as tablets and smartphones in smart home solutions. The smart home in Asia Pacific is expected to grow at the highest rate during the forecast period. actors such as the strong economic growth, increasing population and improving standards of living, and rapid urbanization leading to a sophisticated infrastructure are driving the growth of the market in this region.

South Korea held the largest size of the smart home in APAC in 2016. However, with the growth of the smart home industry and large-scale implementation of smart home system hardware and software solutions in China and Japan, the market in these countries is expected to grow at a higher rate than the market in South Korea during the forecast period. APAC is considered as a huge market for smart homes because of the considerable rate of implementation of various products such as lighting controls and HVAC controls in the region.

Several smart home products have reached their maturity stage in certain regions. Most of the residents in regions such as Europe and North America have been using smart thermostats, smart meters, HVAC controls, and lighting controls for a long time. As the switching cost of these products is high, consumers do not replace them soon after installation. This acts as a restraint for the market growth.

This company is also focusing on strategic partnerships, collaborations, and product launches to grow in the market. It is also attempting to increase its sales and operations in developing economies such as China and India. Moreover, the company is concentrating on enhancing its product portfolio by actively engaging with customers to design and offer innovative products according to their requirements. All these efforts would help the company sustain its competitive position in the market in the near future

Intense competition sparks innovation in space launch service industry

Innovation has been the insignia of the aerospace and defense sector since the launch of Sputnik into the low Earth orbit in 1957. Soon after, within a span of 10 years, humans were sent to the moon. The sector has prided itself in taking a novel approach towards problems and focusing on consistent technological enhancements. Today, we find that the ability of satellites to transform businesses is only matched by the pace at which the technology is growing.

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Technology has ushered in a new era where space is being democratized, as satellites are being used for various services, including communication. The convergence of several factors like the miniaturization of enabling technologies, the need for rapid-response platforms for various applications, such as disaster mitigation and crisis management, launching of a personal satellite into the orbit, and the changing dynamics of space has helped to lower the cost of space launch services.

In addition, the space market of Korea, Japan, and India has been competitive. The foray of private players like Space X into the space launch services market has further intensified the competition. This has spurred innovation in launch services with the manufacturing of disruptive technologies, which has helped to minimize the total satellite cost. Today, unlike in the past, certain components of the space shuttle or the satellite can be used twice or thrice, as done by companies like Space X.
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Due to the reduced development time and launch cost of newer platforms as compared to the conventional large satellites, these platforms are being used in applications ranging from technology demonstrations and biological experiments to space weather research. Numerous academic, government, and commercial entities and pre-college age hobbyists are undertaking small/Nano satellite projects around the world. It is expected that in the near future, India, too, will send student satellites into space.

Moreover, new space companies are deploying various smaller, less complex, and cheaper satellites than a few large, complex, and costly satellites, which has led to an unexpected increase in the number of satellites being launched.

According to MarketsandMarkets, it is expected that more than 400 satellites will be launched by 2022, a significant increase from a mere 200 launches in 2016. Additionally, small satellite constellations will be launched on large launch vehicles that can deploy several satellites at a time into space for specific applications.

The short development cycle and low development cost are some of the benefits offered by small satellites. It is expected that small satellite manufacturers will drive the satellite market in the near future. Ergo, with the entry of private players into the space launch industry, it is now possible to have global coverage using constellations consisting of a few dozen small satellites.

Artificial Intelligence in Security Market: AI to be a Huge Game Changer for Countering Cyberattacks in the Coming Years

More and more companies across the globe are depending on IT systems for their operations, thus leading to an increase in cyber threats and security breaches. With AI continuing to evolve, the cyberattacks are also getting more sophisticated. Increased number of connected devices and the need for connectivity has also led to the increase in the number of threats. Therefore, companies are now adopting artificial intelligence, which can prove to be huge gamer-changer for countering these cyberattacks in an efficient and effective manner. However, with more AI-enabled products and services coming into the market, businesses and organizations need to be well prepared to tackle these threats and security breaches. The global market for artificial intelligence in security is expected to witness a huge growth in the near future.

Market overview

The global artificial intelligence in security market that was valued at USD 3.92 Billion in 2017 is expected to reach a value of USD 34.81 Billion by 2025, growing at a high CAGR of 31.38% between 2017 and 2025.

Based on offering, the software segment is expected to account for the highest share of this market, mainly due to the continuous developments in AI software and other related software development kits. Among deployment type, the market for cloud deployment is projected to witness a higher growth over the forecast period, since several businesses have already adopted and moved parts of their operations to the cloud, which in turn is leading security vendors to come up with cloud-based solutions in order to protect the data stored on the cloud.

On the basis of technology security type, the application security segment is estimated to grow at the highest CAGR between 2017 and 2025, owing to the increased use of a large number of applications by various organizations for their business operations that are vulnerable to threats.

Among end-users, the enterprise industry holds the largest market share, owing to the growing integration of IT in daily activities of various industries, governments, and consumers coupled with the increasing sophistication levels of cyberattacks.

Which region is expected to be the leading market, and why?

Among regions, the market for AI in security in North America currently holds a major chunk of the share of the total market, mainly owing to the presence of a various security vendors and rising incidences of security breaches and threats in this region. With cybersecurity being one of the most serious economic and national security challenge for organizations and governments in North America, it has been an early adopter of various technologies. The rising concern regarding the security of critical infrastructure and sensitive data has also led to an increased intervention from the government in the past few years. Increased incentives and funding from governments is also expected to play a vital role in the development of these technologies.

However, the AI in security market in APAC is projected to grow at a high rate over the forecast period. This growth can be majorly contributed to the SMEs and large enterprises in this region that are increasingly adopting cybersecurity solutions in order to secure their networks, web, and mobile applications. Moreover, high adoption rate of advanced technologies, such as IoT, big data analytics, and cloud computing, and growing concerns related to data security are also expected to drive this market towards good growth ahead.

What are the factors driving and restraining the market growth?

·         Growing adoption of IoT, big data, and cloud computing

·         Increased need for connectivity and also the number of connected devices

·         Growing number of mobile malware attacks

·         High vulnerability of Wi-Fi networks to security threats and attacks

·         Increasing cyber terrorism

·         Stringent directives and regulations for data privacy

Additionally, rising adoption of cloud-based services and applications and increased usage of social media for business are also expected to further create ample growth opportunities for this market.

On the downside, the inability of AI to stop zero-day and advanced threats and increasing number of insider cyber threats are the major factors expected to act as deterrents for the growth of this market. Moreover, lack of cybersecurity and AI professionals and limited security budgets are the key challenges to be tackled by the players involved in this market.

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Key players and strategies adopted for sustenance

The major companies operating in the global artificial intelligence in security market are NVIDIA (US), Intel (US), IBM (US), Micron (US), Samsung (South Korea), Xilinx (US), Amazon (US), Cylance (US), Securonix (US), ThreatMetrix (US), Sift Science (US), Acalvio (US), Skycure (US), Darktrace (UK), and SparkCognition (US). These companies are adopting strategies such as new product launches & developments, joint ventures, collaborations, agreements, contracts, partnerships, and mergers & acquisitions in order to witness sustained growth in the market.