The most significant factors driving the growth of the smart home market is the increasing importance of home monitoring in remote locations and growing concern regarding safety, security and convenience among general population, the increasing number of internet users and growing adoption of smart devices along with growing need for energy-saving and low carbon emission-oriented solutions has been crucial for increased demand of smart home systems.
The report Smart Home Market
with COVID-19 Impact Analysis by Product (Lighting Control, Security
& Access Control, HVAC Control, Smart Speaker, Smart Kitchen, Smart
Furniture), Software & Services, Sales Channel, and Region.
The
global smart home market is projected to grow from USD 84.5 billion in
2021 to USD 138.9 billion by 2026; it is expected to grow at a CAGR of
10.4% from 2021 to 2026.
• Informational PDF Brochure :-
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396 Market Data Tables
110 Figures Detailed
490 Pages and in-depth TOC on "Smart Home Market with COVID-19 Impact Analysis" and Region - Global Forecast to 2026"
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The smart furniture to register the highest CAGR during the forecast period.
The market for smart furniture is expected to grow at the highest CAGR during the forecast period. The shifting trend of the adoption of furniture that can be connected to IoT, coupled with increasing disposable income and changing lifestyle, is expected to contribute to the growth of the market. In addition, due to escalating property prices, many people are opting for smaller living spaces. Owing to space constraints, consumers prefer smart furniture that saves a significant amount of space. Smart furniture offer multiple benefits to consumers as they occupy minimal space, along with being interactive and transformative.
Key Players
- Honeywell (US),
- Siemens (Germany),
- Johnson Controls (Ireland),
- Schneider Electric (France),
- ASSA ABLOY (Sweden),
- Amazon (US),
- Apple (US),
- ADT (US), ... Many More.
APAC to register highest CAGR in Global smart home market during 2026
The market in APAC is expected to grow at the highest CAGR during the forecast period. The growing inclination toward smart building infrastructure in developing economies of the region, such as Japan, South Korea, and China, a huge customer base, and rapid technological advancements in smart home products are driving the development of the market in APAC. Moreover, in developed countries, including Japan and South Korea, government initiatives such as net-zero homes are driving the smart home market. Furthermore, the market in Australia is mainly driven by consumer interest, while rapid housing developments in China are expected to increase the penetration of smart home systems in the country.
Many more Major players in the smart home market are Honeywell (US), Siemens (Germany), Johnson Controls (Ireland), Schneider Electric (France), ASSA ABLOY (Sweden), Amazon (US), Apple (US), ADT (US), ABB (Switzerland), Robert Bosch (Germany), Sony (Japan), Samsung Electronics (South Korea), Crestron Electronics (US), LG Electronics (South Korea), and Legrand (France). Apart from these, Ooma (US), Delta Controls (Canada), Control4 (US), Axis Communications (Sweden), Comcast (US), Smarthome (US), SimpliSafe (US), Armorax (US), Canary (US), and Lutron (US). The top players have adopted merger & acquisition, partnership, collaboration, and product launch strategies to grow in the global precision farming market.
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