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At 11.9 % CAGR, Smart Homes Market Size Worth USD 135.3 Billion by 2026: IndustryARC

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At 11.9 % CAGR, Smart Homes Market Size Worth USD 135.3 Billion by 2026: IndustryARC

September 17
06:59 2022
At 11.9 % CAGR, Smart Homes Market Size Worth USD 135.3 Billion by 2026: IndustryARC
Market Research Reports, Business Consulting Services & Analytics
Smart Homes Market is forecast to reach $135.3 billion by 2026, growing at a CAGR of 11.9% from 2021 to 2026. The increase in usage of internet and smart devices is likely to be high in the future which boosts market growth of smart-home market.

Smart Homes Market is forecast to reach $135.3 billion by 2026, growing at a CAGR of 11.9% from 2021 to 2026. The Smart Homes market is estimated to witness substantial growth over the forecast period primarily due to the increase in adoption of internet users and the growing adoption of smart devices is driving the market growth of smart-homes market. A smart-home is a residence that uses internet-connected devices to enable the remote monitoring and management of appliances and systems such as smart lighting and heating. The advantage of smart homes is energy efficiency, customization and ease of use. Smart home technology requires a Smartphone application or web portal as a user interface to interact with an automated system. The Smart Homes Market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

 

Competitive Landscape:

The top 5 players in the Smart Homes industry are –

1. ABB Ltd.

2. ASSA ABLOY

3. Ingersoll-Rand PLC

4. Legr and S.A.

5. Comcast Corporation

 

Interested in knowing more relevant information? Click here:

https://www.industryarc.com/pdfdownload.php?id=1250

 

Segmental Analysis:

1. The market segment by product into lighting control, security and access control, HVAC control, entertainment and other controls. The leading segment in terms of revenue is security followed by lighting control which is due to organized players such as Zicom, Honeywell and Bosch leads the market in this segment.

2. The rapid urbanization, continuous increase in the population and strong economic growth is encouraging customers towards advanced infrastructure which is driving the market growth in Asia-Pacific. China, one of the largest smart homes market in Asia-Pacific is focusing on advanced technological development to capture the changing demands of the customers which will further increase the market growth.

3. The smart homes market by technology has been segmented into cellular network, protocols and standards and wireless communication technologies. Wireless communication technologies are the leading segment in terms of revenue due to the development of technologies, applications and markets.

 

Report Coverage

Report Attributes

Details

By Product

Lighting Control, Security and access control, HVAC Control, Entertainment

By Technology

Cellular Network, Protocols and Standards and Wireless Communication Technologies

By Geography

North America, Europe, Asia-Pacific, South America and Rest of World

 

Get more detailed information about these segments in the report. Buy it here:

https://www.industryarc.com/reports/request-quote?id=1250

 

Market Drivers and Challenges:

1. Increase in adoption of smart devices for conservation of energy to boost market growth smart: Home Systems and Devices help save energy by allowing the user to monitor and control energy usage in new ways.

2. Increase in number of internet users and the growing adoption of smart devices: Adoption of smart devices is one of the major factors driving the market growth of smart homes.

3. Lack of Interoperability: Interoperability is the one of the biggest problem in smart home technology.

 

Why IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. Get detailed report on preferred market as per your specific requirements and our research experts would customize the report for you.

Email: [email protected]

USA: (+1) 614-588-8538,  (+1) 815-656-4596

 

Similar Reports:

A. Smart Home Automation Market

https://www.industryarc.com/Research/Smart-Home-Automation-Market-Research-504094

B. Smart Lighting Market

https://www.industryarc.com/Report/15032/smart-lighting-market.html

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Website: https://www.industryarc.com/Report/1250/smart-homes-market.html