Smart Home Devices Market 2019-2027: Credence Research | Industry Size, Trends & Forecast
The world market for smart home devices is expected to reach US$ 320,530.9 million by 2027, with a CAGR increase of 20.4% from 2019 to 2027.
SANJOSE, United States – September 27, 2019 /MarketersMedia/ —
As per a new market research study released by Credence Research, the global market for smart home devices is set to reach US$ 320,530.9 million by 2027, growing from 2019 to 2027 at a CAGR of 20.4%.
Favorable government policies to promote the use of smart devices such as energy regulations to promote the installation of smart lights are one of the key factors accelerating the growth of the global market for smart home devices. Increasing the number of criminal cases has also forced homeowners to implement smart security devices for active monitoring to avoid theft proved to be another important factor contributing to strong market growth. During the forecast period, the global market for smart home devices is expected to witness double-digit growth. Furthermore, the paradigm shift in lifestyle and inclination towards the adoption of new technologies are the primary factors that drive market growth.
Browse Full Report At https://www.credenceresearch.com/report/smart-home-devices-market
On the basis of product type and geography, the global market for smart home devices was classified. Entertainment control held the major revenue share among other products on the global market for smart home devices in 2018. Growth is due primarily to the worldwide rapid adoption of the smart speaker and video entertainment solutions. By incorporating advanced features such as voice control, automatic ON/OFF using sensors, wireless connectivity, and many other features, IoT and AI technology have significantly transformed entertainment solutions. Market players such as Amazon, Comcast and Qualcomm are looking for a hike in the adoption rate of smart speakers and other entertainment controls, developing smart speakers that can detect movement and also provide health metrics by using ambient sensors. In order to provide better sound quality, some players also develop high-end echo smart speakers.
In 2018, North America was the most advanced and relatively mature market for smart home devices. The strong growth of the regional market was mainly due to large installed smart home bases in the region, which in 2015 amounted to nearly 12.5 million and expected to reach around 46.2 million in 2020, with annual growth of 56%. In the smart home solutions and services market, the region is technically developed with surplus companies that add as an advantage to the region on the global smart home devices market.
The global market for smart home devices is highly competitive and seeks a significant number of merger, acquisition, and partnerships between IoT solution providers and manufacturers and suppliers of home appliances. Alibaba, a Chinese company, for example, signed a partnership agreement with Taiwan-bassed semiconductor company MediaTek in January 2018 to develop smart mesh solutions for IoT applications. In addition, new start-ups of smart home devices are raising their capital to expand their AI and IoT solutions business. Broadlink, a start-up based in China, raised 54.4 million dollars of capital in February 2018 funded by Citic Private Equity Funds Management (Citic PE). The funding will help to strengthen Broadlink’s footprint on the market for IoT and AI devices.
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ToC:
1. Preface
1.1. Report Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase III-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted
2. Executive Summary
2.1. Global Smart Home Devices Market Snapshot
2.1.1. Global Smart Home Devices Market by Product Type, 2018
2.1.2. Global Smart Home Devices Market by Geography, 2018
3. Global Smart Home Devices Market Dynamics
3.1. Market Overview
3.2. Drivers
3.3. Challenges
3.4. Impact Analysis of Drivers and Challenges
3.5. Competitive Landscape
3.5.1. Market Positioning of Leading Smart Home Devices Manufacturers, 2018
3.5.2. Strategies Adopted by Leading Smart Home Devices Manufacturers
4. Global Smart Home Devices Market Size (US$ Mn), By Product Type, 2017 – 2027
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5. North America Smart Home Devices Market Analysis, 2017 – 2027
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6. Europe Smart Home Devices Market Analysis, 2017 – 2027
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7. Asia Pacific Smart Home Devices Market Analysis , 2017 – 2027
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8. Rest of the World Smart Home Devices Market Analysis , 2017 – 2027
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9. Company Profiles
9.1. Competitive Dashboard
9.1.1. Signify Holding
9.1.2. General Electric
9.1.3. Whirlpool Corporation
9.1.4. LG Electronics
9.1.5. Samsung Electronics Co. Ltd.
9.1.6. Siemens AG
9.1.7. United Technologies Corporation
9.1.8. Honeywell International
9.1.9. Schneider Electric SE
………toc continued
Browse Full Report At https://www.credenceresearch.com/report/smart-home-devices-market
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Website: https://www.credenceresearch.com/report/smart-home-devices-market
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