Semiconductor and Electronic Market Research Report Study

Due to huge developments and innovations in technology day-by-day, the Semiconductor and Electronics has become a highly emerging sector. In the present day scenario, many investors are actively investing in latest technologies. Research Report Analysis will help you get more flavors, deep into its market and regions where this technology is experiencing a huge demand. Also, it will help in getting you the "right business at a right time," wherein you will get more $ in revenue.

Sunday, 18 September 2022

UV Disinfection Equipment Market Impact Analysis worth $9.1 Billion by 2027

According to a research report "UV Disinfection Equipment Market by Component (UV Lamps, Reactor Chambers, Quartz Sleeves, Controller Units), Power Rating (High, Medium, Low), Application, End-user (Municipal, Residential, Industrial, Commercial) and Region - Global Forecast to 2027" published by MarketsandMarkets, the UV disinfection equipment market is projected to grow from USD 5.0 billion in 2022 to USD 9.1 billion by 2027; it is expected to grow at a CAGR of 12.5% from 2022 to 2027. The key factors fueling the growth of this market include extensive use of UV disinfection equipment in healthcare facilities for disinfecting hospital environment, increasing demand for UV disinfection equipment to combat COVID-19 pandemic, intensifying concerns regarding safe drinking water in emerging countries, and long life and low power consumption of UVC LED-based UV disinfection equipment.

• Informational PDF Brochure :-
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Browse 190 market data Tables and 50 Figures spread through 235 Pages and in-depth TOC on "UV Disinfection Equipment Market by Region - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/uv-disinfection-market-217291665.html

UV lamps are projected to grow at the fastest rate for UV disinfection equipment market during the forecast period

The market for UV lamps is projected to grow at the highest CAGR during the forecast period. UV lamps are core components of UV disinfection equipment. The major factor contributing to the growth of this segment is the high adoption of UV LEDs in UV disinfection equipment. UV LEDs offer the advantages of longer life expectancy and lower power consumption, which has favored their adoption on a large scale. UV lamps have a lifetime of 8,000 to 10,000 hours or 1 year, whereas UV LEDs can achieve 25,000, 40,000, or even 100,000 hours. Most of the UV disinfection systems in the market come with annual lamp replacement to ensure reliable disinfection performance. UV disinfection equipment used in industrial and municipal applications employ multiple UV lamps in a single system, which is expected to drive the market for UV lamps in the near future.

Water and wastewater disinfection application for UV disinfection equipment market is expected to hold major share during the forecast period.

The water and wastewater disinfection segment is expected to lead the market during the forecast period. This leading position is attributed to the rising concern regarding water and wastewater treatment among governments across the world. The water and wastewater treated by UV disinfection equipment do not contain any harmful chemicals and are environmentally friendly. This has contributed significantly to the growth of the market. The highest market share of the UV disinfection equipment market for water & wastewater application across the world is attributed to the increasing implementation of stringent government regulations pertaining to safe and environmentally friendly treatment of water and wastewater.

Municipal end user is projected to grow at the fastest rate for UV disinfection equipment market during the forecast period

In municipal facilities, UV-based disinfection systems are used as a final stage in the drinking water treatment to disinfect the water by inactivating and eliminating microorganisms such as bacteria, viruses, and pathogens. UV-based disinfection systems are comparatively more efficient than chlorine as they eliminate chlorine-resistant microorganisms too, even with a low dose. The increasing concern toward preserving natural resources by using an environmentally friendly disinfection solution for the treatment of water and wastewater in rivers and natural springs is among the main reasons driving the growth of the UV disinfection equipment market in the municipal segment. Moreover, UV disinfection equipment offer flexibility and lower operational cost, which makes them suitable for municipal water and wastewater treatment. Municipal corporations across the world are adopting UV disinfection equipment for water and wastewater treatment.

Asia Pacific is projected to grow at the fastest rate for UV disinfection equipment market during the forecast period

The UV disinfection equipment market in Asia pacific region is expected to grow at the highest CAGR during the forecast period. This growth is attributed to factors such as government bodies in this region are working extensively to treat water and wastewater to reduce the issue of less availability of drinking water. Many projects have been planned to install UV disinfection equipment to treat water and wastewater in the region. For instance, the Clean Ganga Project deploy UV disinfection equipment offered by Trojan Technologies. Berson UV, a Halma Group company, has supplied UV disinfection equipment to several municipal projects in Australia for the treatment of water and wastewater. The increasing focus of governments on the treatment of water and wastewater is expected to drive the growth of the UV disinfection equipment market in Asia Pacific. Moreover, the high adoption rate of UV technology in countries such as China, Japan, South Korea, and India, along with the increasing number of startups dealing in UV technology, drives the growth of the UV disinfection equipment market in Asia Pacific.

Xylem Inc. (US), Trojan Technologies (UK), Halma Group (UK), Kuraray Co., Ltd. (Japan), Atlantic Ultraviolet Corporation (US), Evoqua Water Technologies LLC (US), Advanced UV, Inc. (US), American Ultraviolet (US), Atlantium Technologies Ltd. (Israel), Hoenle AG (Germany), and Lumalier Corporation (US) are the key players in the UV disinfection equipment market. These players are increasingly undertaking strategies such as product launches and development, expansions, partnerships, contracts, and acquisitions to increase their market share.

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Neuromorphic Computing Market worth $550,593 thousand by Market Analysis [2021-2026]

According to a research report "Neuromorphic Computing Market With Covid-19 Impact by Offering, Deployment, Application (Image Recognition, Signal Recognition, Data Mining), Vertical (Aerospace, Military, & Defense, Automotive, Medical) and Geography - Global Forecast to 2026"The neuromorphic computing market is expected to be valued at USD 22,743 thousand in 2021 and is projected to reach USD 550,593 thousand by 2026; it is anticipated to grow at a CAGR of 89.1% during the forecast period.

• Informational PDF Brochure :-

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Browse 129 market data Tables and 63 Figures spread through 218 Pages and in-depth TOC on "Neuromorphic Computing Market - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/neuromorphic-chip-market-227703024.html

The major factors driving the growth of the neuromorphic computing market are need for better performing ICs, increase in demand for artificial intelligence and machine learning, and increasing number of cross-industry partnerships and collaborations. However, several factors, such as lack of knowledge about neuromorphic computing and complex algorithms increasing complexity of designing hardware of neuromorphic chips are hindering the growth of neuromorphic computing market. Moreover, matching a human’s flexibility and ability to learn from unstructured stimuli data can act as a key challenge in the market during the forecast period.

Hardware segment is expected to hold the biggest market share during the forecast period

Hardware consist of microprocessors configured similar to brains rather than traditional chips. The chips include microcontroller units (MCUs) and field-programmable gate arrays (FPGAs). Neuromorphic chips are called so as they are modeled on biological brains, designed to process data such as images and sound, and respond to changes in data without being specifically programmed. A decent amount of computing power is required to run the software used for neuromorphic computing. Hence, companies within the market ecosystem are ramping up their hardware infrastructure to cope up with the increasing demand. Therefore, the hardware segment is expected to hold the largest share of market during the forecast period

Cloud computing segment to grow at the highest CAGR during forecast period.

Cloud computing involves decentralized applications running in data centers. It offers several advantages over edge computing. Cloud services are basically handled in a vendor-managed cloud or a collection of data centers and can be accessed from any device over the Internet. Moreover, COVID-19 pandemic has accelerated the deployment of cloud computing as people are working remotely. Hence, the cloud computing segment is expected to witness the highest growth during forecast period.

Consumer Electronics segment is expected to grow at the highest CAGR during the forecast period.

The consumer electronics vertical comprises wearable devices such as smartwatches as well as smart homes, and image and voice recognition for security systems. Smart homes have various real-time applications such as image recognition, signature recognition, and speech recognition based on stored data. To increase the speed of recognition pattern, neuromorphic chips can be deployed, as the neural network executes the command in parallel. Consumer drones and embedded systems are some other examples where the processors can replace their existing chips and deploy these neuromorphic chips instead. As there is an increasing boom for smart wearables, among youth, the market for smart wearables is also growing at a tremendous pace. Hence, consumer electronics segment is expected to grow at the highest rate during the forecast period.

North America is expected to hold the largest share of neuromorphic computing market during the forecast period.

North America is expected to hold the largest share in the neuromorphic computing market in 2021, with the US being the major contributor to the market in the region. The higher penetration of devices with unique voice and image identification capabilities in defense, wearables, IoT, and robotics technologies for interactive experience is driving the growth of the neuromorphic computing market in the region. The presence of prominent technology providers, such as IBM (US) and Intel (US), contributes to the market’s growth in this region. The growing concerns about the security of critical infrastructure and sensitive data have led to increased government spending in recent years and resulted in the adoption of neuromorphic chipsets in security applications in this region.

Key Market Players

The neuromorphic computing market was dominated by Intel Corp. (US), IBM Corporation (US), BrainChip Holdings Ltd. (US), Qualcomm (US) and HP Enterprise (US).

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Artificial Intelligence (Chipsets) Market forecast supercharge your visualizations worth $57.8 billion by 2026

According to the latest market research report "Artificial Intelligence (Chipsets) Market by Technology (Machine learning, Natural Language Processing, Context Aware Computing, Computer Vision), Hardware (Processor, Memory, Network), End-User Industry, and region - Global Forecast to 2026", The global AI (chipsets) market size is expected to be valued at USD 7.6 billion in 2020 and likely to reach USD 57.8 billion by 2026, at a CAGR of 40.1% during the forecast period. Major drivers for the market are increasingly large and complex datasets driving the need for AI, the adoption of AI for improving consumer services and reducing operational costs, the growing number of AI applications, the improving computing power, and growing adoption of deep learning and neural networks.

• Informational PDF Brochure :-
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Browse 213 market data Tables and 50 Figures spread through 288 Pages and in-depth TOC on "Artificial Intelligence (Chipsets) Market - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/artificial-intelligence-chipset-market-237558655.html

The computer vision technology projected to grow at the highest CAGR during the forecast period

Computer vision technology is expected to grow at the highest CAGR in the AI (chipsets) market during the forecast period. The growing adoption of computer vision in autonomous or semiautonomous applications in various industries, such as manufacturing and automotive, is propelling the growth of this technology in the AI (chipsets) market.

The GPU segment is expected to grow the fastest during the forecast period

The market for GPUs is expected to grow at the highest CAGR during the forecast period. This growth is attributed to high parallel computing offered by GPUs and increasing adoption of GPUs at servers/edge devices for processing various AI applications/solutions across industry verticals. GPUs and FPGAs are widely used to implement machine learning algorithms. In terms of throughput, GPUs are ~100 times faster than FPGAs, whereas, in terms of power efficiency, FPGAs are 50 times better than GPUs. GPUs are used extensively to accelerate computational workloads, and their capabilities are growing faster than those of x86 CPUs

AI (chipsets) for the manufacturing industry is expected to grow at highest CAGR during the forecast period

The AI (chipsets) market for the manufacturing industry is expected to witness the fastest growth during the forecast period. This growth is attributed to increasing factory automation and growing demand to reduce operational costs. Additionally, trends such as Industry 4.0 are boosting the growth of AI (chipsets) in the manufacturing sector.

AI (chipsets) market in APAC, projected to grow at the highest CAGR from 2020 to 2026

The market in APAC is anticipated to grow at the highest CAGR during the forecast period. This growth can be attributed to the adoption of AI services in end-user industries such as manufacturing, healthcare, and automotive in countries such as Japan, China, Australia, and South Korea. Additionally, declining AI hardware costs and increasing demand to improve consumer services are supplementing the growth of the AI (chipsets) market in APAC.

Some of the major players in the AI (chipsets) market are NVIDIA Corporation (NVIDIA) (US), Intel Corporation (Intel) (US), Xilinx, Inc. (Xilinx) (US), Samsung Electronics Co., Ltd. (Samsung) (South Korea), Micron Technology, Inc. (Micron) (US), Qualcomm Technologies, Inc. (US), International Business Machines Corporation (IBM) (US), Google Inc. (Google) (US), Microsoft Corporation (Microsoft) (US), Amazon Web Services (an Amazon.com, Inc. subsidiary) (AWS) (US), Advanced Micro Devices, Inc. (AMD) (US), General Vision, Inc. (US), and Huawei Technologies Co., Ltd. (Huawei) (China).

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Thursday, 15 September 2022

Smart Home Market worth $138.9 Billion USD - Global Forecast to 2027

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 - Global Forecast to 2026" 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 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.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=121

Browse 396 market data Tables and 110 Figures spread through 490 Pages and in-depth TOC on "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 - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/smart-homes-and-assisted-living-advanced-technologie-and-global-market-121.html

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.

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. Proactive software and services are more beneficial than behavioral as they send recommendation signals to end users to take necessary actions to reduce energy consumption; consequently, based on the users’ actions, the measures to control the electronic devices can be implemented. Proactive solutions are specifically designed to enable consumers to understand energy patterns and take effective measures to optimize their consumption.

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. Online sales channels involve sales through e-commerce platforms. Customers can easily review the product with specifications and design and can order online. Setup and installation services for smart home products and systems are usually provided when customers purchase products online. Apart from this, individual distributors procure devices from a variety of suppliers for sale to end users within their geographic areas.

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.

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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Augmented Reality Market worth $88.4 Billion USD - Global Forecast to 2027

According to a research report "Augmented Reality Market with COVID-19 Impact Analysis, by Device Type (Head-mounted Display, Head-up Display), Offering (Hardware, Software), Application (Consumer, Commercial, Healthcare), Technology, and Geography - Global Forecast to 2026" published by MarketsandMarkets, 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. The key factors driving the growth of the augmented reality market include surging demand for AR devices and applications in healthcare, growing demand for AR in retail and e-commerce sectors due to COVID-19, rising investments in the AR market, increasing demand for AR devices and technology in the global automotive industry, and others.

• Informational PDF Brochure :-
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Browse 169 market data Tables and 61 Figures spread through 216 Pages and in-depth TOC on "Augmented Reality Market - Global Forecast to 2026"
View detailed Table of Content here -https://www.marketsandmarkets.com/Market-Reports/augmented-reality-market-82758548.html

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

On the basis of 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.

Consumer application to account for the largest share of augmented reality market during the forecast period

On the basis of application, the augmented reality market has been segmented into consumer, commercial, aerospace & defense, 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. The demand for HMD is high in consumer applications. They are used in smart glasses in sports (such as ski driving and fighting games).

APAC to account for the largest share of augmented reality market 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.

The novel coronavirus has affected the global economy to a large extent. The economies in APAC, including Japan, China, South Korea, India, and Australia, have a significant contribution toward the global economy as they are home to various manufacturing and assembly plants in the world. China, which is known as the manufacturing hub of the world, faced a serious economic crisis owing to the spread of the virus and brought all economic activities to a standstill for weeks. The other countries, such as India, Australia, South Korea, and Japan, have also witnessed a downfall in the economic activities across various sectors.

Some of the key companies operating in the 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.

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Edge AI Hardware Market worth 2,080 Million USD - Global Forecast to 2027

According to a research report "Edge AI Hardware Market with COVID-19 Impact Analysis device, Processor (CPU, GPU, and ASICs), End User, Function (Training and Inference), Power (Less Than 1W, 1-3 W, 3-5 W, 5-10W and more than 10W) and Region - Global Forecast to 2026" published by MarketsandMarkets, the edge AI hardware market is projected to grow from 920 million units in 2021 to 2,080 million units by 2026; it is expected to grow at a CAGR of 17.7% from 2021 to 2026.

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Browse 103 market data Tables and 56 Figures spread through 236 Pages and in-depth TOC on "Edge AI Hardware Market - Global Forecast to 2026"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/edge-ai-hardware-market-158498281.html

The key factors contributing to the growth of the market include growth in demand for low latency and real-time processing on edge devices, emergence of AI coprocessors for edge computing, reduction in data storage and operations cost, Increase in enterprise workloads on the cloud and rapid growth in the number of intelligent applications.

Smartphones to hold the largest market share during the forecast period in the edge AI hardware market

In terms of volume, smartphones accounted for the largest share of nearly 75% of the edge AI hardware market for devices in 2020. The increasing demand for smartphones could drive the growth of the edge AI hardware market during the forecast period. Edge AI offers added capabilities to smartphones in terms of imaging and photography, power efficiency, and security.

Use of edge AI hardware among consumer electronics is expected to witness the largest share during the period 2021 and 2026

The consumer electronics segment holds a major share in terms of volume. This is due to the rising consumer spending and demand for consumer electronics. The demand for smartphones, smart wearables, and other devices is witnessing strong growth. Moreover, the innovation and development of new use cases for edge AI could lead to the high growth of consumer electronics in the edge AI hardware market.

APAC to grow at the largest CAGR in edge AI hardware market during the forecast period

In APAC, China is the largest market for artificial intelligence, followed by Japan; this makes the region an attractive market for edge AI hardware applications. The presence of many manufacturing companies, along with the strong presence of automobile and electronics and semiconductor companies, in China and Japan drives the growth of the edge AI hardware market in APAC. Applications such as smartphones, industrial robots, and automotive have huge potential. With the growing penetration of smartphones in China, Japan, India, and South Korea, the adoption of AI processor-enabled smartphones in APAC is expected to increase in the coming years. APAC is also one of the largest markets for industrial robots, surveillance cameras, and wearable devices, which are integrated with vision processing units to accelerate AI tasks.

The report profiles key players such as Apple (US), Intel (US), NVIDIA (US), Qualcomm Technologies (US), Huawei Technologies (China), Samsung Electronics (South Korea), IBM (US), Micron Technology (US), Xilinx (US), Google (US), Microsoft (US) and AMD (US).

Don’t miss out on business opportunities in Edge AI Hardware Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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Tuesday, 13 September 2022

European Smart Home Market worth $41.2 Billion USD - Global Forecast to 2027

According to a research report "European Smart Home Market by Product (Lighting Controls, Security & Access Controls, HVAC Controls, Smart Speakers, Smart Kitchens, Home Appliances, Home Healthcare), Software & Service (Proactive, Behavioral) and Geography - Global Forecast to 2027" published by MarketsandMarkets, the European smart home market is projected to grow from USD 26.7 billion in 2022 to USD 41.2 billion by 2027; it is expected to grow at a CAGR of 9.0% from 2022 to 2027. The key factors fueling the growth of this market include growing internet access in European region, rising need for energy saving and low-carbon emission-oriented solutions, increasing number of manufacturers expanding their smart home product portfolios, ongoing proliferation of smartphones, surging importance of home monitoring, and increasing safety, security, and convenience offered by smart home products are driving need for them.

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Browse 189 market data Tables and 58 Figures spread through 333 Pages and in-depth TOC on "European Smart Home Market by Product (Lighting Controls, Security & Access Controls, HVAC Controls, Smart Speakers, Smart Kitchens, Home Appliances, Home Healthcare), Software & Service (Proactive, Behavioral) and Geography - Global Forecast to 2027"

GlobeNewswire Link :
https://www.globenewswire.com/en/news-release/2022/07/04/2473501/0/en/European-Smart-Home-Market-worth-41-2-billion-by-2027-Exclusive-Report-by-MarketsandMarkets.html

smart furniture is projected to grow at the fastest rate for European smart home market during the forecast period

Smart furniture, often referred to as the future of furniture, is considered a prominent aspect of home automation, thereby creating numerous market growth opportunities. Despite being in its nascent stage, the market has shown signs of wide-scale adoption. Smart furniture offers various benefits such as enabling wireless charging for smart devices, listening to the radio, news or recipe searching, internet browsing and calling, among others. Also, smart furniture enables monitoring of activities such as sitting or standing time and calories burnt by an inhabitant. This makes smart furniture far more advanced than conventional furniture. Continual technological advancements have resulted in incorporating features such as wireless smartphone charging, induction beverage warmer, and Bluetooth speakers integrated into single furniture, a factor further expected to strengthen the smart furniture market growth.

Proactive software for European smart home is expected to grow more than the behavioral software in the forecast period.

Proactive software and services facilitate the transmission of energy consumption data to end users and suggest the best possible actions to be taken after receiving this data. These software and services transfer a higher volume of data than behavioral software and services, as they can provide inputs to end users regarding effective energy consumption, along with required actions on the physical parameters to reduce this consumption. Algorithms associated with proactive software and services can also perform a comparative analysis of the energy usage patterns based on the time of the day, historical data, and weather conditions. These software and services are more beneficial than behavioral software and services as they can also send recommendation signals to end users to take necessary actions to reduce energy consumption. Based on the actions of users, measures to control electronic devices can be implemented. The bulk of proactive software is used for home security systems or detecting fire or water breaches. Europeans are increasingly embracing connected home technologies, with a strong emphasis on lowering energy costs through monitoring and application adaptation. Healthcare applications are also popular among Europes elderly population.

Germany is projected to grow at the fastest rate for European smart home market during the forecast period

Germany is the economic powerhouse of Europe and plays a crucial role in the European smart home market for smart lighting. German population prefers well-equipped smart homes. Moreover, in the next 4–5 years, the number of new households is expected to rise, which can offer potential opportunities for new and innovative lighting solutions. Currently, there is ongoing research on future lighting for smart homes in Germany. Germany is among the leaders in the European energy-efficient lighting industry, ahead of Italy and France. The smart home market is expected to witness significant growth in the coming years, with Germany being one of the global hotspots. Being an early adopter of new technologies, Germany continues to lead the smart home market in Europe.

Honeywell (US), Siemens (Germany), Johnson Controls (Ireland), Schneider Electric (France), ASSA ABLOY (Sweden), Amazon (US), Apple (US), ADT (US), Robert Bosch (Germany), ABB (Switzerland), and Axis Communications (Sweden) are the key players in the European smart home market. These players are increasingly undertaking strategies such as product launches and development, expansions, partnerships, contracts, and acquisitions to increase their market share.

Don’t miss out on business opportunities in European Smart Home Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

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