New York, NY, July 18, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Smart Home Market (Smart Kitchen, Security & Access Control, Lighting Control, Home Healthcare, HVAC Control, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022”.
According to the analysts at Zion Market Research, the global smart home market was capitalized at almost USD 24.10 Billion in 2016 and is likely to cross almost USD 53.45 Billion by end of 2022, developing at a CAGR of slightly more than 14.5% from 2017 to 2022.
Smart home refers to a residential extension of building automation and involves automation of lighting, ventilation, heating, air conditioning, and security as well as home appliances such as washer and dryers, ovens or refrigerators that use WiFi for remote monitoring. At present many new homes are being built with the additional wiring and controls which are required to run advanced home automation systems.
Browse through 13 Tables & 22 Figures spread over 110 Pages and in-depth TOC on “Smart Home Market (Smart Kitchen, Security & Access Control, Lighting Control, Home Healthcare, HVAC Control, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022”.
Request Free Sample Report of Global Smart Home Market Report @ https://www.zionmarketresearch.com/sample/smart-home-market
Rising need for consumer convenience, safety, and security, energy consumption is the major driver of the smart home market. The real estate industry is expected to spur the demand of the smart home market. However, in a few regions, home automation products have reached a saturation level which is the major restraints for the smart home market. Another factor which is hindering the smart home market growth is its high installation cost and lack of standardization. Furthermore, low awareness about home automation is hampering the growth of the smart home market. Nonetheless, high-end devices coupled with technologically advanced features will escalate the smart home market demand over the forecast period. cloud-based solutions also provide new opportunities to impel the demand of smart home market over the forecast period.
The smart home market is segmented into product, software, and region. By product the smart home market is segmented smart kitchen, security access control, lighting control, home healthcare, HVAC control, and others. among this product, light control is dominating the smart home market owing to reduced electricity consumption in homes. The software is used in the smart home are proactive and behavior.
Request for PDF Brochure of This Report: https://www.zionmarketresearch.com/requestbrochure/smart-home-market
Increasing Awareness Amongst Users Regarding Energy Consumption To Boost The Smart Home Market
As per analysts at Zion Market Research, the major growth booster for the smart home market comprises increasing awareness amongst users about energy consumption, rising disposable income in developing nations, growing the aging population, and government programs among others. Apart from this, increasing demand for home healthcare is powering the development of the smart home market. On the other hand, long device replacement cycles and high costs parried with restricted user demand are top challenges curbing the smart home market from shifting to the mass adoption stage from the early-adopter stage.
Nonetheless, new product launches by the market players are increasing the rivalry thereby boosting the development of the smart home market. For example, in August 2018, Philips Hue declared a number of new smart lights driving the development of the global smart home market.
The prominent companies in the smart home market are Siemens AG, Legrand, Ingersoll-Rand plc, Johnson Controls Inc., Acuity Brands, Inc., Schneider Electric SE, United Technologies Corporation, ABB Ltd., Nest Labs, Inc., Samsung Electronics Co., Ltd., Crestron Electronics, and Honeywell International Inc. among others. These players are claimed to augment the global smart home market.
Inquire more about this report before purchase @ https://www.zionmarketresearch.com/inquiry/smart-home-market
Light Control Segment To Boost Smart Home Market In The Forecast Period
Segmentation of the smart home market is carried out based on region and product. The products segments in the smart home market are the home healthcare, smart kitchen, HVAC control, lighting control, and others. Light control grabbed the biggest share in the smart home market owing to lowered electricity usage in homes. Lighting sensors regulate the intensity of artificial light as per the natural light intensity, therefore lowering the power usage and boosting the smart home market.
Reduced Carbon Emissions To Drive Smart Home Market In North America
North America grabbed the biggest share of the smart home market owing to the increase in population and rise in the demand of home health care. Europe is one more leading smart home market as it chases North America. Government initiatives in North America comprise remotely controlling power meters, gas, and water to go with ease into the smart grid. Energy & cost saving, aging population, convenience, security, government initiatives, and reduced carbon emissions are the major boosters that are driving the smart home market development in the years to come. The Asia Pacific is also planned to show noteworthy development in the smart home market in years to come.
Request customized copy of report @ https://www.zionmarketresearch.com/custom/788
The global smart home market is segmented as follows:
By Product
- Smart Kitchen
- Security & Access Control
- Lighting Control
- Home Healthcare
- HVAC Control
- Others
By Software
- Behavior
- Proactive
By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
About Us:
Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Follow Us LinkedIn: https://www.linkedin.com/company/zion-market-research
Follow Us Twitter: https://twitter.com/zion_research
Contact Us:
Joel John
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com
Blog: http://zmrblog.com