IO-Link Market worth $12.20 billion by 2023

According to the new market research report "IO-Link Market by Component (IO-Link Masters and IO-Link Devices), Application (Machine Tool, Handling & Assembly Automation, Packaging, Intralogistics), Industry (Discrete, Hybrid, and Process), and Geography - Global Forecast to 2023", The IO-Link market is expected to reach USD 12.20 billion by 2023 from USD 2.87 billion in 2018, at a CAGR of 33.56%. The growth of the IO-Link market can be attributed to the initiatives of governments across the world toward the adoption of industrial automation; high focus on increasing energy efficiency, optimizing resources, and reducing production costs; and rise of digital industrial technology Industry 4.0. Moreover, the release of IO-Link safety specification in 2017 and availability of cloud interface in IO-Link are likely to create huge growth opportunities for players in the market.

Browse 78 market data Tables and 41 Figures spread through 142 Pages and in-depth TOC on IO-Link Market

IO-Link market for packaging applications to grow at highest rate during forecast period

The increased focus by many manufacturing industries to ensure greater operating safety and efficiency, as well as reduce errors and improve working conditions, has aided the adoption of the packaging automation solutions in industries. The packaging application is expected to exhibit the highest growth in the IO-Link market owing to the flexibility that IO-Link provides to fulfil the requirements for optimizing the packaging process.

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IO-Link market for discrete industries to register largest shipment in 2018

The IO-Link technology has gained popularity in discrete industries mainly due to the recent surge in the adoption of Ethernet communication protocol in automotive, medical devices, and semiconductor and electronics industries. Due to the high cost and design complexity, the Ethernet communication protocol is not suitable for field-level communication applications wherein many sensors and actuators are used. This limitation of Ethernet has provided new growth opportunity to IO-Link to be adopted as a field-level communication protocol in recent years. Moreover, the Ethernet protocol is expected to account for a major market share for discrete industries during the forecast period. This, in turn, is expected to boost the IO-Link market growth in discrete industries in the coming years.

APAC to hold largest size of IO-Link market by 2023

Growing manufacturing sector in APAC countries such as China, Japan, and South Korea is expected to contribute to the growth of the IO-Link market in this region during the forecast period. China is a global manufacturing hub for semiconductor and automotive manufacturers. Rapidly growing automotive industry in China is likely to create growth opportunities for the IO-Link market players in this country. With the growing automotive and manufacturing industries, China witnessed a significant increase in the adoption of IO-Link in the last couple of years.

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Major players in the IO-Link market covered in this report are Siemens (Germany), Balluff (Germany), Ifm electronic (Germany), SICK (Germany), Rockwell Automation (US), Festo (Germany) Omron (Japan), Banner Engineering (US), Hans Turck (Germany), Pepperl & Fuchs (Germany), and Datalogic (Italy).

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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IT Asset Disposition Market (ITAD) insight worth 20.09 Billion USD by 2022

The report "IT Asset Disposition (ITAD) Market by Service (De-Manufacturing and Recycling, Remarketing and Value Recovery, Data Destruction/Data Sanitization, Reverse Logistics), Asset Type, Organization Size, End-User, & Geography - Global Forecast to 2022", was valued at USD 10.12 Billion in 2015 and is expected to reach USD 20.09 Billion by 2022, at a CAGR of 9.83% during the forecast period.

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The evolution of technologies such as cloud computing, Big Data analytics, Internet of Things (IoT), and the changing IT landscape have contributed to the increase in e-waste generation. Thus, IT asset disposition is being adopted by many companies to minimize the environmental impact as well as risk of data loss by following regulatory standards and environmental policies.

Browse 78 market data tables and 57 figures spread through 157 pages and in-depth TOC on “IT Asset Disposition (ITAD) Market - Global Forecast to 2022”
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“Remarketing and value recovery service expected to hold the largest market size during the forecast period”

“Small office/home office (SOHO) and medium enterprises industry is expected to grow at a high rate”

“The market in APAC is expected to grow at the highest rate during the forecast period”

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Major players operating in the IT asset disposition market include Arrow Electronics, Inc. (U.S.), Sims Recycling Solutions (Australia), TBS Industries (U.S.), CloudBlue Technology, Inc. (U.S.), TES-AMM (Singapore) Pte Ltd, (Singapore), Dell (U.S.), LifeSpan International, Inc. (U.S.), Apto Solutions, Inc. (U.S.), Iron Mountain Incorporated (U.S.), Hewlett Packard Enterprise Company (U.S.), ITRenew, Inc. (U.S.), and IBM (U.S.), among others.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Next-Generation Data Storage Market worth $102.2 billion by 2024

"Next-Generation Data Storage Market by Storage System (Direct-Attached, Network-Attached, Storage Area Network), Storage Architecture (File- & Object-Based, Block), Storage Medium (SSD, HDD, Tape), & End User – Global Forecast to 2024" The next-generation data storage market is estimated to grow from USD 56.8 billion by 2019 to USD 102.2 billion by 2024 at a CAGR of 12.48%. The major drivers for this market include the massive growth in digital data volume; proliferated use of smartphones, laptops, and tablets; growth of IoT market; and increasing penetration of high-end cloud computing.

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Storage area network to hold largest share of next-generation data storage market during forecast period
Growing data generation by large enterprises is expected to drive the market for File- and object-based storage architecture
North America to hold largest size of next-generation data storage market during forecast period due to rapid technological advancements in the region
Target Audience:

• Semiconductor foundries
• ODMs and OEMs
• Research institutes
• Market research and consulting firms
• Technology forums, alliances, and associations
• Technology investors
• Analysts and strategic business planners

The companies profiled in this report are Hewlett Packard Enterprise Company (US), Dell Inc. (US), NetApp, Inc. (US), Hitachi, Ltd. (Japan), and International Business Machines Corporation (US), Toshiba Corporation (Japan), Pure Storage, Inc. (US), Nutanix, Inc. (US), Scality (US), Micron Technology, Inc. (US), Tintri, Inc. (US), Cloudian, Inc. (US), Drobo, Inc. (US), Quantum Corporation (US), Western Digital Corporation (US), Samsung Electronics (South Korea), Fujitsu Ltd. (Japan), VMware, Inc. (US), Nexenta Systems, Inc. (US), and Netgear Inc. (US), and Inspur (China).

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Flexible Heater Market worth $1,356 million by 2023

According to the latest market research report "Flexible Heater Market by Type (Silicone Rubber, Polyimide, Polyester, Mica), Industry (Electronics & Semiconductor, Medical, Aerospace & Defense, Automotive, Food & Beverages, Oil & Gas), and Geography - Global Forecast to 2023", The flexible heater market is expected to grow from USD 945 million in 2018 to USD 1,356 million by 2023 at a CAGR of 7.5%. The factors such as a wide range of applications and rising demand from several industries are driving the growth of the flexible heater market. Flexible form factor, technological advancements, launch of innovative products, and high adoption of flexible heaters in medical applications are also driving the market toward significant growth.

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Browse 61 market data Tables and 57 Figures spread through 148 Pages and in-depth TOC on "Flexible Heater Market - Global Forecast to 2023"

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“Silicone rubber-based flexible heater market to grow at highest CAGR during forecast period”

The market for silicone rubber-based flexible heaters is expected to grow at the highest CAGR during the forecast period. Due to their flexibility, faster warm-ups, improved heat transfers, and decreased wattage requirements, silicone rubber-based flexible heaters are used in applications such as semiconductor processing; energy processing (in gas dehydration and gas sweetening); kitchen equipment (in fryers, grills, ovens, warming cabinets, and steam tables); packaging; photovoltaic; medical and analytical instrumentation; aircraft; and spacecraft and satellites. The increasing demand for flexible heaters, coupled with the overall growth of various end-user industries, is driving the market.

“Medical industry to provide significant opportunities to flexible heater market players during forecast period”

Flexible heaters are widely used in the medical industry for electric heating elements and sensors, ranging from dimensional and resistance tolerances; low current leakage; and high insulation resistance readings. In the medical industry, these heaters are primarily found in the ultrasonic cleansers, fluid warmers, warming blankets, sterilization trays, blood warmers, temperature therapy equipment, warming blanket cabinets, dialysis machines, patient warming pads, and various other medical equipment. The increasing demand for these heaters in such applications in the medical industry is expected to fuel the market for flexible heaters during the forecast period.

“APAC holds largest share of flexible heater market”

APAC accounts for the largest share of the flexible heater market, followed by North America and Europe. The increasing demand for flexible heaters in various medical equipment, analytical instruments, avionics and defense systems, semiconductor processes, and commercial food equipment is driving the growth of the flexible heater market. The electronics, semiconductor, and automotive are the major industries in APAC, and the market for the medical device and food equipment manufacturing is expected to grow at the fastest rate in this region in the coming years. The economic growth of the region and lower operating costs in countries such as China and India are expected to drive the demand for flexible heaters in APAC. In addition, the growth of the market in APAC is fueled by the manufacturers shifting their production processes to this region due to the raw material availability, cheap workforce, and increasing demand for these heaters.

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Several major players in the flexible heater market are NIBE Industrier AB (Sweden), Honeywell International Inc. (US), Omega Engineering (US), Watlow Electric Manufacturing (US), Smiths Group plc (UK), Chromalox (US), Rogers Corporation (US), Minco Products, Inc. (US), Zoppas Industries S.P.A. (Italy), and All Flex Flexible Circuits (US), among others.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Compound Semiconductor Market worth $53.0 billion by 2024

According to the new research report "Compound Semiconductor Market by Type (GaN, GaAs, InP, SiGe, SiC, GaP), Product (LED, RF, Optoelectronics, Power Electronics), Application (Telecommunications, General Lighting, Military & Defense, Datacom, Automotive), Geography - Global Forecast to 2024", The compound semiconductor market is expected to grow from USD 37.2 billion in 2019 to USD 53.0 billion by 2024, at a compound annual growth rate (CAGR) of 7.3%. Increasing adoption of compound semiconductors, including GaN, GaAs, and InP, is expected to drive the growth of the compound semiconductor market during the forecast period.

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Browse 64 market data Tables and 64 Figures spread through 175 Pages and in-depth TOC on "Compound Semiconductor Market - Global Forecast to 2024"

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GaN to hold major share of compound semiconductor market during forecast period

Based on type, GaN is expected to hold the largest market share for the compound semiconductor market. Gallium nitride (GaN) is among the most prominent compound semiconductor materials. GaN has its major application in LEDs, which are widely used in general lighting and commercial lighting. GaN is clubbed in structures such as GaN-on-Si and GaN-on-sapphire that are used in lighting applications. GaN has been increasingly used in LED, semiconductor power devices, and radio frequency (RF) devices. GaN LEDs are used in applications such as general lighting, consumer devices, commercial, and automotive. Therefore, rising adoption of GaN is expected to provide market opportunities. GaN devices will have ample opportunities once 5G deployment becomes the mainstream. In the military segment, GaN application varies from electronic warfare to radar to communications. GaN technology is helping designers meet reduced size, weight, and power requirements for the EW system. Power electronics is another important area for GaN. GaN-based power devices will play a key role in the power conversion market. GaN offers similar performance benefits as that of SiC but at low cost. This price and performance advantage is possible because GaN power devices can be grown on silicon substrates that are larger and less expensive than SiC.

Telecommunications application to dominate compound semiconductor market during forecast period

The telecommunications application is expected to hold the largest market share of the compound semiconductor market owing to increased usage of compound semiconductors such as GaAs, GaN, InP, and SiGe. 5G provides a huge opportunity for compound semiconductors for telecom applications. For power amplifiers and low noise amplifiers GaAs is the choice as it offers advantages in meeting the strict linearity requirements. To meet all the requirements for 4G and 5G, including saturated and linear efficiency, GaN is also expected to gain importance in telecommunications application in the coming years. Recently, Qorvo launched 28 GHz gallium nitride (GaN) front-end module (FEM) to reduce overall system cost for base station equipment.

APAC to hold major share of compound semiconductor market by 2024

APAC is leading market for compound semiconductors. APAC presents huge opportunities for the compound semiconductor device market owing to the growing demand for these devices in numerous verticals including telecommunications, lighting, automotive and military, and aerospace and defense in Asian countries such as China, Japan, and South Korea. Leading application of RF is telecom while for GaN it is LED. LED and RF are major products for the compound semiconductor market in APAC, while power electronics exhibit high potential for the market in APAC. LEDs are expected to dominate the overall compound semiconductor market owing to the high adoption in lighting applications in APAC. China and Japan are leading countries for consumption of LEDs; however, developing countries in APAC are also expected to exhibit growth potential during the forecast period. Automotive lighting is the fastest-growing application of the LED market. Increasing penetration of LEDs in various types of vehicles is expected to drive the growth of automotive LEDs. Telecommunication is among the most important applications of the compound semiconductor market in APAC. The market is driven by increasing adoption of compound semiconductors in telecom infrastructure, as well as in devices such as smartphones.

Nichia (Japan), Samsung Electronics (South Korea), OSRAM (Germany), Qorvo (US), Skyworks (US), Cree (US), GaN (Canada), Infineon (Germany), Mitsubishi Electric (Japan), NXP Semiconductors (Netherlands), ON Semiconductor (US), Analog Devices (US), Broadcom (US), Efficient Power Conversion (US), Lumentum (US), NeoPhotonics (US), San’an Optoelectronics (China), and STMicroelectronics (Switzerland) are among the major players in the compound semiconductor market.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Digital Signage Market worth $29.6 billion by 2024

According to the new market research report on the "Digital Signage Market by Offering (Hardware (Displays, Media Players, Projectors), Software, Services), Product, Application, Vertical (Retail, Transportation & Public Places, Sports & Entertainment, Education), and Geography - Global Forecast to 2024", The digital signage market is expected to grow from USD 20.8 billion in 2019 to USD 29.6 billion by 2024, at a CAGR of 7.3%. Growing technological advancements in display products, increasing adoption of digital signage products in commercial vertical, rising demand for 4K & 8K displays, and increasing infrastructural developments in emerging countries are the major driving factors for the market’s growth during the forecast period.

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Browse 63 market data Tables and 56 Figures spread through 186 Pages and in-depth TOC on "Digital Signage Market - Global Forecast to 2024"

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Growing smart signage applications, increasing retail space worldwide, rising demand for context-aware signage, and increasing transition of traditional stores to smart stores in the retail vertical expected to offer high growth opportunities in the near future.

“Hardware offering to dominate digital signage market (in terms of share) during forecast period”

Hardware offering currently accounts for the largest share of the digital signage market, and this trend is expected to continue during the forecast period. Displays to dominate the entire digital signage hardware market during the forecast period owing to increasing usage of digital signage systems for both indoor and outdoor applications in verticals such as commercial, infrastructural, and institutional. Rising demand for high picture quality, attractive design, and high specification-based displays are driving the growth of the digital signage hardware market. Newer technologies such as fine-pixel LED and OLED are expected to drive the growth of the digital signage market for hardware devices during the forecast period.

“Digital signage market for outdoor application to grow at highest CAGR from 2019 to 2024”

The outdoor digital signage are widely used in transportation and public places, sports, and hospitality verticals. The penetration of outdoor advertising is expected to be high in transportation and public places during the forecast period. Digital signage typically represents large advertisements in high-traffic areas for pedestrians and drivers. This attracts a lot of customers as advertisements are largely visible at express highways and high-density consumer exposure areas. Constantly changing or blinking text creates an impact on customers and enables a wide exposure for the targeted audience, thereby driving the market for outdoor digital signage.

“APAC to grow at highest CAGR in digital signage market during forecast period”

The market in APAC is expected to exhibit the highest growth rate in the digital signage market because of its awareness of the benefits of digital signage solutions in retail, transport, banking, and entertainment. APAC is witnessing dynamic changes in the adoption of new technologies and advancements in retail and infrastructural verticals. China, South Korea, and Japan are the early adopters of digital signage products in this region. However, countries such as India, Australia, Singapore, Thailand, and Malaysia are expected to witness the highest growth in the digital signage market.

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Key players in the market include Samsung Electronics (South Korea), NEC Corp. (Japan), LG Electronics (South Korea), Sharp (Foxconn) (Japan), Leyard Optoelectronic (Planar) (China), Sony (Japan), AU Optronics (Taiwan), BARCO (Belgium), Panasonic (Japan), Goodview Electronics (China), Scala (US), E Ink Holdings (Taiwan), Omnivex Corporation (Canada), Deepsky Corporation (Hong Kong), Delta Electronics (Taiwan), Exceptional 3D (US), Daktronics (US), Christie Digital Systems (US), Intuiface (France), and BenQ (Taiwan).

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
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Smart Home Market worth $151.4 billion by 2024

According to the new research report "Smart Home Market by Product (Lighting Control, Security & Access Control, HVAC, Entertainment, Smart Speaker, Home Healthcare, Smart Kitchen, Home Appliances, and Smart Furniture), Software & Services, and Region - Global Forecast to 2024", the overall smart home market is expected to grow from USD 76.6 billion in 2018 to USD 151.4 billion by 2024, at a CAGR of 12.02%. The growth of the smart home market is driven by many factors, such as a large base of internet users and rapid adoption of smart devices; increased public awareness of fitness and healthy lifestyles owing to the high disposable income in developing countries; high importance of home monitoring from remote locations; rise in the need for energy-saving and low carbon emission solutions; cost reduction measures enabled by smart homes; rapid proliferation of smartphones and smart gadgets; existence of various market players focusing on expanding their smart home product portfolios; and widespread concern about safety, security, and convenience.

Browse 100 market data Tables and 65 Figures spread through 255 Pages and in-depth TOC on "Smart Home Market - Global Forecast to 2024"
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The market for smart speakers is likely to grow at a high rate during the forecast period”

The growth of the smart speaker market is primarily driven by the increased adoption of smart homes, high disposable income, the popular trend of personalization, and the rapid proliferation of multifunctional devices. Factors such as increasing focus of companies on enhancing customer experience and consumer preference for technologically advanced products over traditional products are expected to provide opportunities to smart speaker providers.  Further, recent developments in artificial intelligence and natural language processing to enhance voice recognition capabilities have increased the overall demand for smart speakers in smart homes.

“The market for proactive type software and services to grow at a higher rate  during the forecast period”

The proactive type software and services facilitate the transmission of data, along with the best possible solutions,  to end users for actions to be taken after receiving the information. The proactive type enables the transfer of a larger volume of data than the behavioral type; it can provide the inputs to end users regarding effective energy usage and required actions on the physical parameters to reduce energy consumption. Proactive solutions are more beneficial than the behavioral type as they can also send recommendation signals to end users to take necessary actions to reduce energy consumption; further, based on the user’s actions, measures to control electronic devices can be implemented. Owing to these advantages, the market for proactive type software and services is expected to grow at a higher rate during the forecast period.

“The smart home market in APAC is expected to grow at a high rate during the forecast period”

The smart home market in APAC is expected to grow at a high rate from 2018 to 2024 owing to the rising number of new residential projects and increasing number of initiatives toward strengthening the building infrastructure in the region. There is a considerable demand for smart homes in APAC countries such as Japan, South Korea, China, and Rest of APAC (RoAPAC). Currently, China and South Korea are considered as huge markets for smart home systems due to the high demand for various control devices, including  lighting control solutions, in the country. The presence of a large base of end users in advanced economies such as China, Japan, and South Korea and the high demand for energy management systems are the major factors that are likely to fuel the demand for smart homes in this region.
The smart home market is currently dominated by Johnson Controls International (Ireland), United Technologies Corporation (US), Schneider Electric (France), Honeywell International, Inc. (US), and Siemens AG (Germany).

Other players operating in the smart home market are Amazon, Inc. (US), Apple Inc. (US), Google (US), ADT (US), Robert Bosch Gmbh (Germany), ASSA ABLOY (Sweden), ABB Ltd. (Switzerland), Ingersoll-Rand PLC (Ireland), ABB (Switzerland), Legrand S.A. (France), GE (US), Comcast Corp. (US), Hubbell Inc. (US), Samsung Electronics Co., Ltd. (South Korea), LG Electronics (South Korea), Sony (Japan), Control4 Corp. (US), Lutron Electronics Co. Inc. (US), Vivint (US), and Axis Communication AB (Sweden), among others. Almost all companies, including key players, have adopted a few major strategies such as product developments and launches, mergers and acquisitions, and partnerships and collaborations to grow in the smart home market.

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