Fort Collins, Colorado, Oct. 12, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the smart home market size was valued at USD 83.3 Billion in 2022 and is expected to reach USD 625.3 Billion by 2032 and is with a CAGR of 22.4%.
The global report on the smart home market comprehensively analyzes the latest trends and market conditions. It also covers the latest insights from the industry and delves into market opportunities. Smart technologies are used worldwide in bulbs, fans, and speakers. This has led to growth opportunities for the market by implementing security features like data integration in security cameras with remote access.
The integration of IoT in home appliances has multiple use cases. Smart fans use the energy-efficient BLDC technique, which significantly reduces electricity bills. Other devices that can be incorporated into a smart home environment are smart audio equipment, televisions, and smart HVACs. The availability of remote operation features for appliances has opened up opportunities for smart device manufacturers to tap into the market.
Sales of smart locks, cameras, and alarms have risen due to increased concern for home safety. These devices use motion sensors to detect unusual activity and alert connected devices to help prevent theft and burglary. Special care and attention for children and the elderly can be facilitated by cameras and monitoring devices, which enable quick emergency response.
Request Sample Report:
https://datahorizzonresearch.com/request-sample-pdf/smart-home-market-2226
Segmentation Overview:
The global smart home market has been segmented into product, application, sales channel, technology, and end-use. Security & access control dominates the market due to its adoption in various sectors like home, office, and retail security. Integration of pins, fingerprints, and face IDs enhances security levels. The new construction segment has the highest revenue due to the increased usage of smart LEDs, doorbells, and fans. The market has seen rapid growth post-COVID due to remote work settings.
Buy This Research Report:
https://datahorizzonresearch.com/checkout-page/smart-home-market-2226
Smart Home Market Report Highlights:
- The global smart home market growth is anticipated at a CAGR of 22.4% by 2032.
- The emergent trend of merging Artificial Intelligence in smart home products for smart features is expected to raise product demand.
- North America leads the market due to its technological advancements and the presence of major players in the region.
- Some prominent players in the smart home market report include Samsung, Amazon, Honeywell, Philips, Bosch, Legrand, Google, Honeywell, Google, Siemens, and Cisco.
Industry Trends and Insights:
- Cisco is now an Official Technology Partner of the New England Patriots. They'll be providing networking solutions for Gillette Stadium.
- Honeywell will work with the U.S. Department of Energy's National Renewable Energy Laboratory to create drone hydrogen fuel storage solutions.
Looking Exclusively For Region/Country Specific Report?
https://datahorizzonresearch.com/ask-for-customization/smart-home-market-2226
OR
Ask For Discount
https://datahorizzonresearch.com/ask-for-discount/smart-home-market-2226
Smart Home Market Report Segmentation:
- By Product: Light Control, Security & Access Control, Smart Electronics, Smart Kitchen, Smart Others
- By Application: New Construction, retrofit
- By Sales Channel: Direct, Indirect
- By Technology: Wired, Wireless
- By End-use: Residential, Commercial, Others
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
Contact:
Mail: sales@datahorizzonresearch.com
Ph: +1-970-672-0390
Website: https://datahorizzonresearch.com/
Follow Us: LinkedIn
Recent Publications
Product Engineering Services Market 2023 to 2032
Immersive Analytics Market 2023 to 2032
Data Analytics Market 2023 to 2032
Cellular IoT Module Market 2023 to 2032
Cross Border Payments Market 2023 to 2032
