Attractive Opportunity:
The primary driving
factor of the smart home market are increasing disposable income of
people in developing economies, increasing importance of home monitoring
in remote locations, increasing number of internet users and growing
adoption of smart devices, growing concern about safety, security, and
convenience among general population, expansion of smart home product
portfolio by a large number of players, and growing need for
energy-saving and low carbon emission-oriented solutions.
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Findings of the Global Digital Pathology Market:
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.
The new range
follows this approach and includes two digital thermostat variants for
temperature and humidity control and advanced KNX communication between
sensors and actuators to Siemens’ building management systems such as
Desigo and Synco.
The exchanges and usage of company data
along the value chain. This harmonizes and further automates processes,
both within and between companies, thus achieving substantial efficiency
gains.
The partnership integrated Google’s hardware and
services and ADT’s DIY and professionally installed smart home security
solutions to innovate the residential and small business security
industry. The future ADT + Google helpful home security solution is
expected to advance smart home offerings and attract new consumers
seeking premium technology, end-to-end smart home service, and trusted
security.
What are the Driving Factors of the Smart Home Market?
They
include both wired and wireless protocols. Different protocols also
define the compatibility for different types of home automation control
systems—on-premises (centralized connectivity) or cloud-based (remote
connectivity). Suppliers provide hardware components, such as sensors,
timers, and dimmers, for smart home systems.
Increasing concern about safety, security, and convenience among general population drive : The Market Growth
The
in-built monitoring system is also capable of controlling electronic,
electrical, and security appliances from a single interface.
Convenience, efficiency, safety, and security are the major factors that
impact the acceptance of any technology. An automated (smart) home
coordinates with security, temperature, lighting, and audio/video
systems automatically to ensure safety, energy-saving, and convenience.
Global OPPORTUNITIES: 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.
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IoT Sensors Market Top Companies Profiles:
- Honeywell (US),
- Siemens (Germany),
- Johnson Controls (Ireland),
- Schneider Electric (France),
- ASSA ABLOY (Sweden),
- Amazon (US),
- Apple (US),
- ADT (US),
- ABB (Switzerland) and..
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 MarketsandmarketsTM Research:
The
market in APAC is expected to grow at the highest CAGR during the
forecast period. The APAC region is home to major smart home
manufacturers, namely, Samsung Electronics (South Korea), Panasonic
(Japan), Haier Smart Home (China), LG Electronics (South Korea), and
Sony (Japan), which always focus on technological innovations. Also,
China, Japan, and South Korea are potential high-growth markets for
smart home offerings.
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)
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