Smart Homes Market expected to reach $80.89 billion by 2022

Global Smart Homes Market is accounted for $26.3 billion in 2015 and is expected to reach $80.89 billion by 2022 growing at a CAGR of 17.41% from 2015 to 2022

November 15, 2016 /MarketersMedia/ —

Global Smart Homes Market is accounted for $26.3 billion in 2015 and is expected to reach $80.89 billion by 2022 growing at a CAGR of 17.41% from 2015 to 2022. The smart homes market has been witnessing remarkable growth, mainly driven by its eco friendly nature. Machine-2-Machine communications, product growth in Internet of Things (IOT), increasing cost of energy are the key factors driving the market growth. Need for long serving and reasonable products are restraining the market. Energy management, safety and security and lighting control offer great investment opportunities for players in the market. The operating and maintenance cost, user awareness, internet security demand for housing are some of the challenges faced by the players.

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North America accounted for the largest market share, led by the maximum adoption of smart homes systems. The U.S. is likely to remain as the key market for smart homes throughout the forecast period driven by its high adoption rate and development. Cost effectiveness of these products is increasing the demand for smart homes market in both developed and developing regions. The Asia-Pacific smart homes market is anticipated to grow at the highest CAGR amongst all regions, backed by its resilient GDP growth and the growing real estate market.

Some of the major players in the global market include ABB Ltd., Cisco Systems, Inc., Control4 Corporation, Crestron Electronics, Inc., Emerson Electric Co., Honeywell International, Inc., Ingersoll-Rand PLC, Legrand S.A., Leviton MFG. Company Inc., LG Electronics Inc, Lutron Electronics, Inc., Schneider Electric SA, Siemens AG., Smarthome, Inc. and United Technologies Corporation.

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Products Covered:
• Security & Access Control
• Energy Management System
o Lighting Control
o Smart Devices
o Others
• HVAC Control
o Humidity Sensors
o Climate Controls
o Thermostats
o Temperature Sensors
o Others
• Entertainment Control
• Others
Services Covered:
• Installation
• Customization
Protocol & Technologies Covered:
• Cellular Network
• Communication Network
• Smart Home Protocols
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o Rest of Asia Pacific
• Rest of the World
o Middle East
o Brazil
o Argentina
o South Africa
o Egypt

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What our report offers:
– Market share assessments for the regional and country level segments
– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancement

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Source: http://marketersmedia.com/smart-homes-market-expected-to-reach-80-89-billion-by-2022/146267

Release ID: 146267