Smart Home Market worth $138.9 billion by 2026, at a CAGR of 10.4%

Attractive Opportunity: Supercharge your Visualizations

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 in regard to 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.

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Industry Trends of the Global Smart Home Market:

1. Johnson Controls, the global leader for smart and sustainable buildings, launched a new flexible service suite for its customers in Asia Pacific. The new service suite leverages Johnson Control's OpenBlue1 digital technology to power remote and contactless services, in combination with its 130-years of expertise in green building services, with more than 20 unique, customizable options to cater to rising demands for adaptable, healthier, and safer buildings.

2. Apple collaborated with Gallaudet University to foster innovation in education. By virtue of this collaboration, every student and faculty member was equipped with a new iPad Pro, Apple Pencil, and Smart Keyboard Folio.

3. Siemens Smart Infrastructure (SI) launched its new RDG200 thermostat range for a healthy and productive indoor climate. Room automation is key for protecting and enhancing the occupants' health, as well as increasing productivity for a safe return to work.

What are the Driving Factors of Evolution of technologies and consolidation of Smart Home Market?

The Global Smart home market is projected to USD 138.9 billion by 2026, growing at a CAGR of 10.4% during the forecast period.

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.

Smart Home Market : Top Leading Companies Profiles:

The proactive type software and services segment to register the highest CAGR during the forecast period.

The market for proactive software is projected to grow at a higher CAGR during the forecast period. The proactive software enable the transfer of a higher volume of data than the behavioral versions; they can provide end users with inputs on effective energy usage and actions on the physical parameters, such as ambient humidity and temperature, to reduce energy consumption. The algorithms associated with the proactive software and services can also comparatively analyze the energy usage patterns based on the time of the day, historical data, and weather conditions.

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.

Smart Home Market - Geographical Regional Vision by Marketsandmarkets^TM
APAC to register highest CAGR in Global smart home market during 2021- 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.

Regions & Countries Covered:

North America - (U.S., Canada, Mexico)

Europe - (U.K., France, Germany, Italy, Spain, Rest of Europe)

Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)

Latin America - (Brazil, Argentina, Rest Of Latin America)

The Middle East & Africa - (GCC Countries, South Africa, Rest Of the Middle East & Africa)

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Contact:
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MarketsandMarkets™ INC.
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USA: 1-888-600-6441
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Smart Elevator Market worth $12.6 billion by 2026, at a CAGR of 5.4%

 

Attractive Opportunity: Supercharge your Visualizations

The key factors fueling the growth of this market consist of reducing energy consumption within the buildings, development of smart cities and growth in urbanization. Moreover, increased construction of high-rise buildings equipped with smart vertical transportation systems due to rapid urbanization and modernization of old buildings plays a key role in driving the growth of smart elevator market.

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Industry Trends of the Global Smart Elevator Market:

1. Hitachi Ltd. (Japan) acquired a 9.99% share in Yungtay Engineering (Taiwan) to strengthen its elevator and escalator market. Till date, Hitachi has acquired a ~51% share in Yungtgay.

2. OTIS Elevator (US) acquired Bay State Elevator (US) to expand in the northeast US. The acquisition includes the company service portfolio and operations in Massachusetts, Connecticut, Vermont, and upstate New York

3. Thyssenkrupp AG (Germany) entered an agreement with Advent, Cinven, and RAG Foundation to sell its Elevator Technology business segment to strengthen its cash flow and lower its structural costs.
   
   What are the Driving Factors of Evolution of technologies and consolidation of Smart Elevator Market?

The Smart elevator market is expected to grow from USD 9.7 billion in 2021 to USD 12.6 billion by 2026.; it is expected to grow at a CAGR of 5.4% from 2021 to 2026.

Elevator control segment is expected to hold the largest share of the smart elevator control system market during the forecast period

The elevator control segment is expected to account for the largest segment of the overall revenue of the smart elevator control systems market throughout the forecast period.  It is further expected to grow at a significant rate during the forecast period. The growing demand for smarter buildings with seamless passenger flow and easy-to-use elevators is driving the demand for destination control technology. Improving living standards in emerging economies have led to the demand for more high-tech buildings, coupled with the adoption of less energy that further fuels the demand for elevator control systems.

Smart Elevator Market: Top Leading Companies Profiles:
Smart elevator market for residential application is expected to grow at the fastest CAGR during the forecast period

The global residential market is being driven by the growing sophistication of living standards in emerging economies. Emerging economies, such as India, China, and South East Africa, are witnessing unprecedented growth in urbanization as the population in these countries is migrating towards cities for employments. Consequently, the construction of high-rise buildings—that almost invariably are equipped with smart elevators—has become rather necessary to accommodate a sizeable population in cities. The growth of the real estate industry in developing countries is also a key metric for the growth of the segment. Also, people are looking for better security systems and energy-efficient buildings. Furthermore, the trend of building automation is also likely to favor the market growth during the forecast period.

Major players in the virtual production market are OTIS Elevator (US), Kone Corporation (Finland), Schindler Group (Switzerland), Thyssenkrupp AG (Germany), Hitachi Ltd. (Japan), Hyundai Elevators Co., Ltd. (South Korea), Mitsubishi Electric (Japan), Fujitec Co., Ltd. (Japan), Toshiba Elevators and Building Systems Corporation (Japan), and Honeywell (US) are some of the key players offering Smart Elevators. Few other players covered in the report includes Motion Control engineering (US), Thames Valley Control (UK), Rimrock Corporation (US), Robustel (China), IBM (US), Robert Bosch (Germany), Liftimsight (Netherlands), Kisi (US), Sick AG (Germany), Perrerl+Fuchs (Germany), Kintronics (US), Openpath Security (US), Brivo (US), Sigma Elevator Company (South Korea), and Emerald Elevators (UK).

Smart Elevator Market- Geographical Regional Vision by Marketsandmarkets^TM
APAC projected to grow at the highest CAGR of smart elevator market from 2021 to 2026.

APAC is a mix of developing and mature markets for smart elevators. The residential market is the fastest due to the high middle-class population base seeking better residential properties and consequently moving to cities. The region is predicted to witness an increase in new equipment sales in the coming years, where China is the largest new equipment market globally and India the second-largest market. APAC is expected to lead the smart elevator market in 2021 owing to the rising urban population in China and India.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com
or follow us on Twitter, LinkedIn and Facebook.

Contact:
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MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
sales@marketsandmarkets.com 

 

Virtual Production Market expected to reach $5.1 Billion by 2027, at CAGR of 14.5%

 

Attractive Opportunity: Supercharge your Visualizations

Rising demand for visual effects in movie and television industries and      increasing implementation of LED wall technology play a key role in driving the growth of virtual production market in near future. Establishment of new virtual production studios and rising demand for visual effects in movies and television industries are among the factors driving the growth of the virtual production market.

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Industry Trends of the Global Virtual Production Market:

1. Mo-Sys Engineering Ltd. announced the launch of new Virtual Manufacturing courses to meet the rising need for educated technicians in the virtual production industry. This enhanced and comprehensive program has been meticulously crafted and is expected to be taught by the Mo-Sys' Academy.

2. Technicolor partnered with Paramount Pictures and director Jeff Fowler to bring a fully computer-generated imagery (CGI) Sonic to life in Sonic the Hedgehog 2 in collaboration with Technicolor Creative Studios’ MPC.

What are the Driving Factors of Evolution of technologies and consolidation of Virtual Production Market?

The global virtual production market size is estimated to be USD 2.6 billion in 2022 and is projected to reach 5.1 billion by 2027, at a CAGR of 14.5% during the forecast period.

Increasing demand for VFX and CGI in movies stimulates market growth

In 2021, the software segment accounted for the largest share of the virtual production market. The dominance of the segment is attributed to the increasing demand for VFX and CGI in movies. Continuous organic and inorganic growth strategies adopted by virtual production ecosystem players have enhanced the growth of the market. For instance, in May 2022, Mo-Sys Engineering Ltd. formed a partnership with GMS International to make augmented reality and virtual production solutions available to South Korean cinematographers and broadcasters.

Virtual Production Market : Top Leading Companies Profiles:
Movies segment to capture the lion’s share in the virtual production market

In 2021, the movies segment accounted for the largest share of the virtual production market. The rising trend in moving movies from theaters and multiplexes to over-the-top (OTT) platforms enables producers to access broader audiences. The substantial budgets of movies and increasing demand for VFX-based movies have led to the growth of the movies segment. As stated in the Theme Report 2021 published by the Motion Picture Association, the production of new movies continued to skyrocket post the pandemic. In 2021, approximately 940 films were initiated for production in the US.

Major players in the virtual production market are Adobe Inc. (US), NVIDIA Corporation (US), Sony Group (Japan), Autodesk Inc. (US), Technicolor (France), HTC Corporation (Taiwan), Vicon Motion Systems Ltd (UK), SideFX (Canada), Epic Games (US), Mo-Sys Engineering Ltd. (UK), are some of the key player's company in the market.

Virtual Production Market - Geographical Regional Vision by Marketsandmarkets^TM
North America to register higher CAGR during the forecast period

North America accounted for the largest share of the virtual production market in 2021. Growth can be attributed to the presence of the largest movie industry, increasing budgets for movies, and the use of advanced technology in the media and entertainment industry. As stated in the Theme Report 2021 published by the Motion Picture Association, the expected number of US movies that started filming in 2021 was 943, an increase of 111% from those in 2020 when production was halted due to the COVID-19 pandemic.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com
or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
sales@marketsandmarkets.com

The Collaborative Robot Market is Growing Quickly: Here's What You Need To Know $9.2 Billion by 2028

Attractive Opportunity: Supercharge your Visualizations

The growth of Collaborative Robot Market is driven by factors such as high return on investment as compared to the traditional industrial robotic system, increasing demand in the e-commerce and logistics industries due to contingency of COVID-19, collaborative robots to benefit businesses of all sizes, and increased ease of programming of collaborative robots. However, higher preference for low payload capacity traditional industrial robots over cobot in heavy-duty industries restrain the growth of the collaborative robot (cobot) market.

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What are the Driving Factors of Evolution of technologies and consolidation of Collaborative Robot Market?

The global collaborative robot market is projected to grow from USD 1.1 Billion in 2022 to USD 9.2 Billion by 2028, at a CAGR of 41.5% during the forecast period from 2022 to 2028

Scope of the Collaborative Robot Market

Report Metric	Details
Market size value in 2022	USD 1.1 Billion
Market size value in 2028	USD 9.2 Billion
Growth rate	CAGR of 41.5%
Years Considered	2022–2028
Base Year	2021
Forecast Period	2022–2028
Forecast Units	Value (USD Million/USD Billion)
Segments Covered	Component, Payload, Application, Industry, and Geography
Geographies Covered	North America, Europe, Asia Pacific, and RoW

Collaborative robots with payload capacity up to 5 kg, expected to hold the largest share of the market during the forecast period

Cobot with payload capacity up to 5 kg holds the largest market share and is expected to retain its position during the forecast period. First-time users prefer low payload capacity cobot, which are cheaper and take up less space than robots with higher payload capacity. For instance, COBOTTA, a cobot from DENSO Corporation (Japan), has an inherently safe design owing to its low weight and, therefore, does not require extensive use of sensors compared to higher payload cobot, thus keeping it more affordable. SAWYER and SAWYER Black Edition from Rethink Robotics GmbH (US) are both single arm cobot with a payload capacity of 4 kg and a maximum reach of 1,260 mm.

Collaborative Robot Market by Top Companies Profiles:
Automotive industry to maintain the largest share of collaborative robot market during the forecast period

The automotive industry is one of the largest users of collaborative robots. In automotive manufacturing, collaborative robots are used for a variety of applications such as handling, welding, assembling and disassembling, welding, dispensing extensively. Amongst these applications, welding has been one of the first and most popular applications of collaborative robots in the automotive industry.

Major players in the collaborative robot market are Universal Robots A/S (Denmark), FANUC Corporation (Japan), ABB (Switzerland), Techman Robot Inc (Taiwan), KUKA AG (Germany), Doosan Robotics Inc. (South Korea), Denso Corporation (Japan), Yaskawa Electric Corporation (Japan), AUBO (Beijing) Robotics Technology Co., Ltd (China), and Rethink Robotics GmbH (US), Omron Adept Technologies, Inc. (US), Franka Emika GmbH (Germany), etc.

Regional Insight by Marketsandmarkets^TM Research:
Europe accounts for second-largest market share of collaborative robot (cobot) market in 2021

Europe held the second-largest share of the collaborative robot (cobot) market in 2021. Many of the early adopters of collaborative robots were from European countries. With the advent of Industry 4.0 in Europe, the manufacturing sector brought in collaborative robots to modernize and improve their production capabilities. SMEs in Europe are largely looking into automation to deploy collaborative robots to perform dirty and dangerous jobs. Polishing tasks, for example, are being done by collaborative robots, with workers performing the final inspection. Europe houses several key collaborative robot players, such as Universal Robots A/S (Denmark) and KUKA AG (Germany). KUKA AG was one of the first manufacturers to offer cobot to the market, while Universal Robots has been the market leader for cobot for several years now.

Regions & Countries Covered:

North America - (U.S., Canada, Mexico)

Europe - (U.K., France, Germany, Italy, Spain, Rest of Europe)

Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)

Latin America - (Brazil, Argentina, Rest Of Latin America)

The Middle East & Africa - (GCC Countries, South Africa, Rest Of the Middle East & Africa)

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com
or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
sales@marketsandmarkets.com

 

 

APACs – You Can’t Afford to Ignore Research data of Cleaning Robot Market worth $25.9 Billion by 2027

APACs – You Can’t Afford to Ignore Research data of Cleaning Robot Market worth $25.9 Billion by 2027

Attractive Opportunity: Supercharge your Visualization

The growth of Cleaning robot market is attributed to the increasing adoption of AI and IoT in household appliances, growing adoption of cleaning robots in commercial sector, rising demand for disinfecting robots in healthcare facilities. During the forecast period, development of AI-enabled and voice-controlled smart cleaning robots is expected to create growth opportunities for the market.

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Industry Trends of the Global Cleaning Robot Market:

1. Amazon.com, Inc. (US) and iRobot Corporation (US) announced a definitive merger agreement under which Amazon will acquire iRobot Corporation under its expansion plan with a USD 1.7 billion offer. The acquisition will bolster Amazon’s line of smart home products and add to the retail giant’s vast store of consumer data.

2. Ecovacs Robotics Co., Ltd., (China) one of the world’s leading service robotics leaders, is making good on its new mission, “Robotics for all”, by reimagining floor cleaning with the new AI-powered DEEBOT T10 robotic vacuum cleaner. The new DEEBOT combines next-generation technologies, such as AIVI 3.0 Upgraded AI-based Object Recognition and Avoidance technology, that offer tech-savvy households’ unique advantages. It also ushers in a new era of human-bot interaction with YIKO Voice Assistant, making the DEEBOT T10 everyone’s intelligent butler.

3. Xiaomi (China) launched the Mi Robot Vacuum-Mop 2 series in Europe, which includes the Mop 2S, Mop 2 Pro, and the Mop 2 Ultra.

What are the Driving Factors of Evolution of consolidation in Cleaning Robot Market ?

The Cleaning Robot Market is projected to grow from USD 9.8 Billion in 2022 to USD 25.9 Billion by 2027; it is expected to grow at a CAGR of 21.5% during the forecast period

Cleaning Robot Market Report Scope:

Report Metric	Details
Market size value in 2022	USD 9.8 Billion
Market size value in 2027	USD 25.9 Billion
Growth rate	21.5%
Market size available for years	2018—2027
Forecast period	2022—2027
Units	Value (USD Million/USD Billion), Volume (Thousand Units)
Segments covered	Product, Type, Operation Mode, Sales Channel, Application, and Geography
Geographic regions covered	North America, Europe, APAC, and RoW

Personal cleaning robots type to account for a larger share of cleaning robot market in 2022

Personal cleaning robots account for a larger share of the cleaning robot market, which is attributed to the growing sales of floor-cleaning robots for domestic purposes. The busy lifestyle and the increase in automation have led to a growth in demand for floor-cleaning robots, which can easily perform the task of dry and wet cleaning. They can be scheduled and controlled using a smartphone or tablet. Apart from floors, personal cleaning robots can also be used for the cleaning of pools, lawns, and windows.

Cleaning Robot Market : Top Leading Companies Profiles Key Benefits For Stakeholders:
Residential application to lead cleaning robot market in 2022

The cleaning robot market for residential applications is expected to hold the largest market share during the forecast period. Technological advancements are enabling these robots to become more practical and usable day by day. This is driving consumer demand and acceptance of such products. Rising consumer demand for autonomous robotic technology and the minimization of human intervention are factors driving market growth.

The key players operating in the cleaning robot market include iRobot Corporation (US), Ecovacs Robotics Co., Ltd (China), Samsung Electronics Co., Ltd. (South Korea), Xiaomi (China), and Roborock (China) among others.

Cleaning Robot Market - Geographical Regional Vision by Marketsandmarkets^TM
Asia Pacific to hold significant opportunities for the market during forecast period

Asia Pacific is the fastest-growing market for cleaning robots. The rise in disposable income among consumers in countries of the region has led to the rapid adoption of cleaning robots in the residential segment. The increasing adoption of cleaning robots and the influx of global players, along with the emergence of native players, are driving market growth. China is one of the key countries for the cleaning robot market in Asia Pacific as the country is the major manufacturing hub for cleaning robots globally. The presence of several manufacturers and suppliers in China has helped the cleaning robot market to expand rapidly in the country. The country accounts for a share of more than 50% of the cleaning robot market in Asia Pacific.

• PR Newswire Link :
https://www.prnewswire.com/news-releases/cleaning-robot-market-worth-25-9-billion-by-2027--exclusive-report-by-marketsandmarkets-301635190.html

Regions & Countries Covered:

North America - (U.S., Canada, Mexico)

Europe - (U.K., France, Germany, Italy, Spain, Rest of Europe)

Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)

Latin America - (Brazil, Argentina, Rest Of Latin America)

The Middle East & Africa - (GCC Countries, South Africa, Rest Of the Middle East & Africa)

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com
or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
sales@marketsandmarkets.com

The MnM Insight Study : Augmented Reality Market worth $88.4 Billion by 2026

 

Attractive Opportunity: Supercharge your Visualizations

The key factors fueling the growth of this market include increasing adoption of AR technology in healthcare sector, growing demand for AR in retail and e-commerce sectors due to COVID-19, rising investments in AR market, and surging demand for AR devices and technology in global automotive industry.

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Key Findings of the Global Augmented Reality Market:

1. Microsoft won a contract from the US Army to supply HoloLens technology. The deal is worth about USD 22 billion, lasting for 10 years where Microsoft will provide the military with 120,000 AR headsets.

2. Lenovo announced its new ThinkReality A3 augmented reality AR glasses ahead of CES 2021 aimed at the enterprise market. The ThinkReality A3 AR smart glasses look like a pair of sunglasses and can be easily folded. The glasses that superimpose computer graphics over real-world views require a tethered connection to a PC or Motorola smartphone.

3. Magic Leap partnered with Google Cloud to deliver Magic Leap enterprise solutions on the Google Cloud Marketplace and explore potential new cloud-based, spatial computing solutions running on Google Cloud.

What are the Driving Factors of Evolution of technologies and consolidation of Augmented Reality Market?

The Augmented reality market was valued at USD 14.7 billion in 2020 and is projected to reach USD 88.4 billion by 2026; it is expected to grow at a CAGR of 31.5% from 2021 to 2026.

Hardware segment to account for the largest share of augmented reality market during the forecast period

Based on offering, the augmented reality market has been segmented into hardware and software. The hardware segment of the augmented reality market is projected to witness a higher growth rate than the software segment owing to the increasing adoption of augmented reality hardware globally.

Augmented Reality Market by Top Companies Profiles:
Consumer application to account for the largest share of augmented reality market during the forecast period

Based on application, the augmented reality market has been segmented into consumer, commercial, aerospace &defence, healthcare, enterprises (manufacturing), automotive, energy, and others. The consumer application segment is projected to account for the largest size of the augmented reality market from 2021 to 2026. The consumer segment of the market comprises gaming and entertainment applications wherein AR technology is used to create 3D visual objects in the real world. The flourishing gaming and sports and entertainment sectors fuel the use of AR technology in consumer applications.

Major players in the augmented reality market are Google, Inc. (US), PTC Inc. (US), Seiko Epson (Japan), Microsoft (US), Lenovo (Hong Kong), Samsung Electronics (South Korea), Apple (US), and so on.

Regional Insight by Marketsandmarkets^TM Research:
Asia Pacific to register higher CAGR during the forecast period

The flourishing enterprises (manufacturing) sector in China and Japan is projected to fuel the growth of the augmented reality market in APAC. The gaming industry in this region has also witnessed significant growth, thereby contributing to the increased demand for augmented reality technology in APAC. Additionally, rising investments in commercial applications of augmented reality are also expected to contribute to the growth of the market in APAC. Moreover, the thriving healthcare and automotive sectors in Japan are also projected to drive the demand for AR technology in the region.

Regions & Countries Covered:

North America - (U.S., Canada, Mexico)

Europe - (U.K., France, Germany, Italy, Spain, Rest of Europe)

Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)

Latin America - (Brazil, Argentina, Rest Of Latin America)

The Middle East & Africa - (GCC Countries, South Africa, Rest Of the Middle East & Africa)

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

 

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

 

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com
or follow us on Twitter, LinkedIn and Facebook.

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
sales@marketsandmarkets.com

 

The Smart Home Market is Booming: Here's What You Need to Know, worth $138.9 billion by 2026

 

Attractive Opportunity: Supercharge your Visualizations

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 in regard to 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.

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Key Findings of the Global Smart Home Market:

1. Johnson Controls, the global leader for smart and sustainable buildings, launched a new flexible service suite for its customers in Asia Pacific. The new service suite leverages Johnson Controls OpenBlue1 digital technology to power remote and contactless services, in combination with its 130-years of expertise in green building services, with more than 20 unique, customizable options to cater to rising demands for adaptable, healthier, and safer buildings.

2. Apple collaborated with Gallaudet University to foster innovation in education. By virtue of this collaboration, every student and faculty member was equipped with a new iPad Pro, Apple Pencil, and Smart Keyboard Folio. Moreover, Apple gives students opportunities in technology after they graduate from Gallaudet.

3. Siemens Smart Infrastructure (SI) launched its new RDG200 thermostat range for a healthy and productive indoor climate. Room automation is key for protecting and enhancing the occupants' health as well as increasing productivity for a safe return to work.

What are the Driving Factors of Evolution of technologies and consolidation of Smart Home Market?

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.

 

The smart furniture to register the highest CAGR during the forecast period market growth.

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.

Smart Home Market by Top Companies Profiles:
Indirect sales channel to hold the largest share of smart home market during forecast period.

Indirect sales channels or third-party service providers hold a major share of the smart home market. Most players in the market have strong sales channels and distribution networks to provide services to end users. Indirect sales channels involve the sale of smart devices and products through both online and offline modes. Offline sales channel comprises third-party cellular network carriers, wholesalers, retailers, and value-added resellers.

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.

Regional Insight by Marketsandmarkets^TM Research:
Asia Pacific to register higher CAGR during the forecast period

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.

Regions & Countries Covered:

North America - (U.S., Canada, Mexico)

Europe - (U.K., France, Germany, Italy, Spain, Rest of Europe)

Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)

Latin America - (Brazil, Argentina, Rest Of Latin America)

The Middle East & Africa - (GCC Countries, South Africa, Rest Of the Middle East & Africa)

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

 

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

 

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com
or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
sales@marketsandmarkets.com