Smart Home Market Size, Share & Industry Growth Analysis Report by Product (Lighting Control, Security & Access Control, HVAC Control, Smart Speaker, Smart Kitchen and Smart Furniture), Software and Services, Sales Channel and Region - Global Forecast to 2028
Report Code: SE 3172 Mar, 2023, by marketsandmarkets.com
Updated on : April 17, 2023
[517 Pages Report] Global Smart Home Market report size is projected to grow from USD 101.7 billion in 2023 and is anticipated to USD 163.7 billion by 2028; growing at compound annual growth rate (CAGR) of 10.0% from 2023 to 2028.
The importance of home monitoring in remote locations, and Growing need for energy-saving and low carbon emission-oriented solutions are responsible to drive market growth during the forecast period. Factors such as integration of power line communication technology in smart homes provides market growth opportunities for smart home industry.
Smart Home Market Forecast to 2028
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Smart Home Market Report Dynamics
Driver: Growing concerns about safety, security, and convenience among general population
Smart homes are designed to automate various household appliances and electronics using an in-built monitoring system, thereby offering convenience, safety, efficiency, and security to the residents. The single interface system can monitor and control lighting, security, temperature, and audio/video systems. Security is a major focus of smart homes, and advanced security systems can notify homeowners of intrusions and provide room-by-room surveillance even when they are away. Access control systems play a crucial role in ensuring the security of residential areas. As a result of their high efficiency and sophistication, home automation and control systems are being increasingly used in smart homes to enhance security.
Restraint: More convenience-driven rather than necessity-driven market
Smart homes offer convenience and sophisticated measures to operate various electronic products within the household. These products are usually assumed to simplify daily activities rather than solving energy-efficiency issues. Several concerns are associated with the exclusivity of smart home technology, such as the technology being perceived as a luxury that is only affordable to a certain affluent stratum of society. Moreover, many homeowners are not yet aware of the benefits offered by these systems in terms of cost and energy savings. Buyers also need to invest in additional tools such as displays, software, sensors, and analytical solutions to adopt complete home automation.
An average homeowner is often reluctant to learn the information and processes necessary for the installation and operation of hardware devices. Thus, factors such as perceived usefulness and ease of use of the system by homeowners may negatively affect the market. Apart from do-it-yourself (DIY) home automation solutions, homeowners appointing service providers to monitor and control their smart home products on a contract basis have to pay a maintenance cost every month or year, which may not be affordable for an average homeowner. This acts as a restraining factor for the growth of market, especially in regions such as the Asia Pacific and the RoW (Middle East, South America, and Africa), wherein the economies are still in the developing stage.
Opportunity: Integration of data-connectivity technology into lighting controllers.
The lighting control market has experienced significant growth in recent years, with a variety of products available, including dimmers, timers, occupancy sensors, daylight sensors, and relays, which can be used independently or integrated into home automation systems. Typically, external communication protocols are required for lighting controllers to be automated. However, lighting control manufacturers are now producing products with in-built data connectivity, eliminating the need for external protocols and connectivity.
This development is expected to generate a substantial demand for such products, presenting opportunities for smart home market players. With loT serving as the foundation for connected lighting systems, communication between devices is seamless, enabling data sharing and contextual services. Additionally, LED-based systems offer increased control capabilities and reduced energy consumption and operational costs. The integration of loT and connectivity into lighting systems is set to revolutionize the smart home industry, opening new opportunities and value propositions.
Challenge:Compatibility issues between devices of different companies
The Smart Home Market trends is highly fragmented in nature. At present, many players are developing different systems with multiple technologies. It is easy to integrate and connect devices made by the same manufacturer or vendor; however, it is a tedious task to link systems developed by different manufacturers or vendors; this could result in limited functionalities and unreliable services apart from incompatibility issues. Therefore, compatibility issues between various devices are a challenge for the growth of this market. As a result, end users regularly install units that can only be controlled by the manufacturer’s app.
This means that after installing several devices, the end user’s smartphone can be swamped with multiple apps, all controlling different devices and all dedicated to controlling the home under normal living conditions. Moreover, another problem that arises in a smart home space that combines isolated household devices is multiple control spots, be it smartphone apps of display panels. Manifold touch points complicate control among various IoT systems, even though one of the keys to efficient user experience with IoT products is creating a smooth, one-space experience across all the elements in a connected environment.
Smart Home Market Ecosystem
The smart home market is highly competitive. It is marked by the presence of a few tier-1 companies, such as Johnson Controls (Ireland), Honeywell (US), Siemens (Germany), Schneider Electric (France), and ASSA ABLOY (Sweden). These smart home companies have created a competitive ecosystem by investing in research and development activities to launch highly efficient and reliable smart home solutions.
Proactive software and services to register highest CAGR during forecast period
Proactive software and services facilitate the transmission of energy consumption data to end users, along with the best possible solutions to be implemented. The market for proactive software is projected to grow at a higher CAGR during the forecast period. Proactive software enables the transfer of a higher volume of data than the behavioral versions; it can provide end users with inputs on effective energy usage and actions on the physical parameters, such as ambient humidity and temperature, to reduce energy consumption.
Smart kitchen segment is expected to grow at the highest CAGR Smart home market during the forecast period
The smart kitchen segment is expected to grow at the highest CAGR during the forecast period, owing to the growing preference for modular kitchens and the rise in disposable income among consumers in developing economies. Due to changes in lifestyles and increased time spent outside the home, the significance of a smart kitchen has risen. Additionally, the growing number of internet, smartphone, and tablet users has made it easier for users to monitor their appliances using their mobile devices, which is particularly appealing to those with busy lifestyles. Kitchen renovation activities have also increased substantially, particularly in developing economies, with a growing preference for modular kitchens.
Indirect sales channels to grow at highest CAGR during the forecast period
Indirect sales channels or third-party service providers hold a major share of the smart home market. E-commerce platforms offer a one-stop-shop experience that gives more convenience to customers by allowing them to browse and purchase multiple products in one place. Customers can easily review the product with specifications and designs and can order online. Setup and installation services for smart home products and systems are usually provided when customers purchase products online. Apart from this, individual distributors procure devices from a variety of suppliers for sale to end users within their geographic areas
North America by region to hold the larger share during the forecast period
North America is expected to capture the largest share of the global smart home market by 2028. It is home to some of the prominent market players, including Honeywell (US), Amazon (US), and Apple (US). Factors such as the increased demand for reliable home energy management systems, enhanced home security levels, improved device standards, and the growth in popularity of integration of smart devices, such as tablets, smartphones, and standalone voice assistants, in homes are driving the market for smart homes in North America. The number of smart homes in North America, especially in the US, is higher than that of any other region in the world. Thus, the market in this region is expected to grow at a steady pace during the forecast period.
In 2028, Asia Pacific is projected to hold the largest share of the overall grow lighst market
Smart Home Market by Region
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Top Smart Home Companies - Key Market Players
The smart home companies are dominated by globally established players such as Johnson Controls (Ireland), Honeywell (US), Siemens (Germany), Schneider Electric (France), and ASSA ABLOY (Sweden). These players have adopted product launches/developments, contracts, collaborations, agreements, and acquisitions for the growth in the market.
Smart Home Market Report Scope:
|
Report Metric |
Details |
| Market size value in 2023 | USD 101.7 Billion |
| Market size value in 2028 | USD 163.7 Billion |
| CAGR (2023-2028) | 10.0% |
|
Forecast Period |
2023–2028 |
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On Demand Data Available |
2030 |
|
Years Considered |
2019–2028 |
|
Forecast Units |
Value (USD Million/USD Billion) |
|
Segments Covered |
Product, Software and Services, Sales Channel and Region and Geography |
|
Geographies Covered |
North America, Europe, Asia Pacific, and RoW |
|
Companies Covered |
Other players include in Smart Home Market Report. Total 26 Major Players are covered. |
Smart Home Market Highlights
The study categorizes the smart home market based sales channel, products, software & services, and region
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Segment |
Subsegment |
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By Sales Channel |
|
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By Products |
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By Software & Services |
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By Region |
|
Recent Developments
- In January 2023, Schneider Electric (France) launched Schneider Home which is an energy management solution that includes a house battery for sustainable energy storage, a high-power solar inverter, a smart electrical panel, an EV charger, and connected electrical outlets and light switches. It is all controlled by the user-friendly Schneider Home app.
- In January 2023, Apple (US) launched HomePod (2nd Generation) which is a smart speakers that allows users to monitor the temperature and humidity in a room hands-free, establish smart home automation with Siri, and get notifications when a smoke or carbon monoxide alarm is detected in their house.
- In November 2022, Schneider Electric (France) and Smartworld Developers (India) partnered on home automation solutions. Smartworld Developers will develop positive impact homes with lower waste and healthier interiors by utilizing smart product lines from Schneider Electric, such as Wiser Smart Homes, Modular Switches, etc.
Frequently Asked Questions (FAQ):
What is the current size of the Smart Home Market and what is its growth potential?
The smart home market refers to the industry of companies producing and selling products and services that make homes more automated, connected, and convenient. The size of the smart home market is anticipated to increase USD 163.7 billion by 2028, growing at a CAGR of 10.0%.
What are the key trends driving the growth of the Smart Home Market?
The Smart Home Market is being driven by various trends, including increased consumer adoption, advancements in IoT and AI technologies, growing focus on energy efficiency and sustainability, and the rise of voice assistants. The market is also benefiting from the increasing integration and interoperability of smart home devices, as well as the availability of smart home services.
What are the strategies adopted by the major players in the Smart Home Market to remain competitive?
Major players in the Smart Home Market are adopting several strategies to remain competitive, including product innovation, strategic partnerships, expansion into new markets, acquisitions and mergers, branding and marketing, offering bundled solutions, and improving customer support. Companies are investing in R&D to develop new and innovative smart home devices, forming partnerships with other players in the ecosystem, expanding their presence in new geographic regions, and acquiring smaller players with innovative technologies. They are also offering bundled solutions and focusing on improving customer support to build customer loyalty and satisfaction.
Who are the major players in the smart home market?
The major players in the smart home market include Johnson Controls (Ireland), Honeywell (US), Siemens (Germany), Schneider Electric (France), and ASSA ABLOY (Sweden).
What are the future trends in the smart home market?
Future trends in the smart home market include the integration of artificial intelligence, voice control, and greater interconnectivity between devices. There is also increasing demand for privacy and security, as well as sustainable and eco-friendly smart home solutions.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 60)
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.2.1 INCLUSIONS AND EXCLUSIONS
1.3 MARKET SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 MARKET SEGMENTATION
1.3.2 PRODUCTS COVERED UNDER EACH MAJOR CATEGORY
1.4 YEARS CONSIDERED
1.5 CURRENCY
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
1.7.1 RECESSION IMPACT
2 RESEARCH METHODOLOGY (Page No. - 66)
2.1 RESEARCH DATA
FIGURE 2 SMART HOME MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Major secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Breakdown of primaries
2.1.3 SECONDARY AND PRIMARY RESEARCH
2.1.3.1 Key smart home industry insights
2.2 MARKET SIZE ESTIMATION
FIGURE 3 RESEARCH FLOW FOR MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
FIGURE 4 MARKET: BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: REVENUE GENERATED FROM SMART HOME PRODUCTS RELATED TO HOME AUTOMATION
FIGURE 6 MARKET: TOP-DOWN APPROACH
2.2.3 MARKET PROJECTIONS
TABLE 1 MARKET GROWTH ASSUMPTIONS
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 7 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
2.5 LIMITATIONS
2.6 APPROACH TO ANALYZE IMPACT OF RECESSION
2.7 RISK ASSESSMENT
3 EXECUTIVE SUMMARY (Page No. - 78)
FIGURE 8 ANNUAL AVERAGE GROWTH RATES OF ELECTRICITY DEMAND IN KEY REGIONS, 2018–2020
FIGURE 9 TOTAL ENERGY CONSUMPTION BREAKDOWN, BY REGION, 2019–2021
FIGURE 10 GLOBAL SHARE OF ENERGY AND EMISSIONS IN BUILDINGS AND CONSTRUCTION, 2021
TABLE 2 US: NEW RESIDENTIAL CONSTRUCTION (AS OF JANUARY 2023)
TABLE 3 US: CONSTRUCTION SPENDING (AS OF DECEMBER 2022)
3.1 SMART HOME MARKET: RECESSION IMPACT
FIGURE 11 GDP GROWTH PROJECTIONS FOR MAJOR ECONOMIES, 2021–2023
FIGURE 12 RECESSION IMPACT ON MARKET, 2019–2028 (USD BILLION)
FIGURE 13 ENTERTAINMENT & OTHER CONTROLS TO DOMINATE MARKET IN 2023
FIGURE 14 BEHAVIORAL SEGMENT TO CONTINUE TO DOMINATE MARKET IN 2028
FIGURE 15 INDIRECT SALES CHANNEL TO REGISTER HIGHER GROWTH RATE DURING FORECAST PERIOD
FIGURE 16 SMART KITCHEN SEGMENT TO REGISTER HIGHEST GROWTH DURING FORECAST PERIOD
FIGURE 17 NORTH AMERICA TO ACCOUNT FOR LARGEST SHARE OF MARKET IN 2023
4 PREMIUM INSIGHTS (Page No. - 87)
4.1 ATTRACTIVE OPPORTUNITIES IN SMART HOME MARKET
FIGURE 18 INCREASING NUMBER OF INTERNET USERS AND GROWING ADOPTION OF SMART DEVICES TO DRIVE MARKET
4.2 MARKET, BY PRODUCT, 2023 VS. 2028 (USD MILLION)
FIGURE 19 SMART KITCHEN SEGMENT TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
4.3 MARKET SHARE FOR SOFTWARE & SERVICES, BY TYPE (2023)
FIGURE 20 PROACTIVE SEGMENT TO HOLD LARGER SHARE OF MARKET IN 2023
4.4 MARKET SHARE, BY SALES CHANNEL (2023)
FIGURE 21 INDIRECT SALES CHANNEL TO HOLD LARGER SHARE OF MARKET IN 2023
4.5 NORTH AMERICA: MARKET, BY PRODUCT AND COUNTRY (2023)
FIGURE 22 ENTERTAINMENT & OTHER CONTROLS SEGMENT TO ACCOUNT FOR LARGEST SHARE OF NORTH AMERICAN SMART HOME MARKET IN 2023
4.6 SMART HOME MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES
FIGURE 23 CHINA TO REGISTER HIGHEST GROWTH IN MARKET DURING FORECAST PERIOD
5 MARKET OVERVIEW (Page No. - 91)
5.1 INTRODUCTION
5.2 EVOLUTION
FIGURE 24 EVOLUTION OF SMART HOMES
5.3 MARKET DYNAMICS
FIGURE 25 MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.3.1 DRIVERS
FIGURE 26 DRIVERS FOR MARKET AND THEIR IMPACT
5.3.1.1 Increasing number of internet users and growing adoption of smart devices
FIGURE 27 INTERNET USERS, BY REGION (MILLION)
5.3.1.2 Increasing disposable income of people in developing economies
FIGURE 28 GDP PER CAPITA IN INDIA AND CHINA, 2017–2021 (USD THOUSAND)
5.3.1.3 Increasing importance of home monitoring in remote locations
5.3.1.4 Growing need for energy-saving and low carbon emission-oriented solutions
TABLE 4 ENERGY-SAVING POTENTIAL OF LIGHTING CONTROLS
5.3.1.5 Expansion of smart home product portfolios by large number of players
5.3.1.6 Growing concerns about safety, security, and convenience among general population
5.3.2 RESTRAINTS
FIGURE 29 RESTRAINTS FOR SMART HOME MARKET AND THEIR IMPACT
5.3.2.1 More convenience-driven rather than necessity-driven market
5.3.2.2 High cost of switching for existing smart device consumers
5.3.2.3 Issues related to security and privacy breaches
5.3.3 OPPORTUNITIES
FIGURE 30 OPPORTUNITIES FOR MARKET AND THEIR IMPACT
5.3.3.1 Favorable government regulations to promote green buildings
5.3.3.2 Incorporation of lighting controllers with in-built data-connectivity technology
5.3.3.3 Integration of power line communication technology in smart homes
5.3.4 CHALLENGES
FIGURE 31 CHALLENGES FOR MARKET AND THEIR IMPACT
5.3.4.1 Difficulties linking disparate systems, limited functionality, and lack of open standards
5.3.4.2 Risk of device malfunctioning
5.3.4.3 Compatibility issues between devices of different companies
5.4 SUPPLY CHAIN ANALYSIS
FIGURE 32 SUPPLY CHAIN ANALYSIS OF SMART HOME MARKET: MANUFACTURING AND DISTRIBUTION PHASES ADD MAXIMUM VALUE
5.4.1 PLANNING AND REVISING FUNDS
5.4.2 RESEARCH & DEVELOPMENT (R&D)
5.4.3 MANUFACTURING
5.4.4 ASSEMBLY, DISTRIBUTION, AND AFTER-SALES SERVICES
5.5 ECOSYSTEM ANALYSIS
FIGURE 33 ECOSYSTEM ANALYSIS OF MARKET
TABLE 5 KEY PLAYERS AND THEIR ROLE IN SMART HOME ECOSYSTEM
5.5.1 HOME AUTOMATION OEMS
5.5.2 SUPPLIERS
5.5.3 SMART HOME SYSTEM INTEGRATORS
5.5.4 DISTRIBUTORS
5.6 SMART HOME MARKET TRENDS IMPACTING CUSTOMER BUSINESS
FIGURE 34 AI IN HOME APPLIANCES AND ROBOTICS TO IMPACT REVENUE OF SMART HOME PRODUCT MANUFACTURERS DURING FORECAST PERIOD
5.7 PORTER’S FIVE FORCES ANALYSIS
TABLE 6 MARKET: PORTER’S FIVE FORCES ANALYSIS
FIGURE 35 MARKET: PORTER’S FIVE FORCES ANALYSIS
5.7.1 INTENSITY OF COMPETITIVE RIVALRY
5.7.2 BARGAINING POWER OF SUPPLIERS
5.7.3 BARGAINING POWER OF BUYERS
5.7.4 THREAT OF SUBSTITUTES
5.7.5 THREAT OF NEW ENTRANTS
5.8 CASE STUDIES
5.8.1 ASSA ABLOY’S REMOTE ACCESS DELEGATION TO BUILDINGS TRANSFORMS WAY EMERGENCY SERVICES OPERATE WORLDWIDE
5.8.2 JOHNSON CONTROLS’ COOLING SOLUTION HELPS FISERV TACKLE MAINTENANCE CONSTRAINTS AND ACHIEVE ENERGY SAVINGS
5.8.3 HONEYWELL’S SECURITY SOLUTION HELPS GATEWAY BUILDING IMPROVE ITS SECURITY AND VISITOR ACCESS SYSTEM
5.8.4 SIEMENS BUILDING TECHNOLOGIES PROVIDES INTEGRATED SOLUTIONS FOR FONDATION LOUIS VUITTON MUSEUM IN PARIS
5.8.5 ADT RENDERS ADVANCED ACCESS CONTROL SYSTEMS TO PORT OF CORK
5.9 TECHNOLOGY ANALYSIS
5.9.1 KEY TECHNOLOGIES
5.9.1.1 Integration of IoT and cloud connectivity with smart home devices
5.9.1.2 Integration of Artificial Intelligence (AI) with smart home systems
5.9.2 COMPLEMENTARY TECHNOLOGIES
5.9.2.1 Adoption of adaptive learning technology to enhance capabilities of HVAC control devices
5.9.2.2 Integration of IoT with smart wearable devices
5.9.3 ADJACENT TECHNOLOGY
5.9.3.1 Penetration of 5G in industrial manufacturing
5.10 TRADE ANALYSIS
5.10.1 IMPORT SCENARIO
5.10.1.1 Import scenario for thermostats
TABLE 7 IMPORT DATA FOR THERMOSTATS (HS CODE 903210), BY COUNTRY, 2017–2021 (USD MILLION)
5.10.1.2 Import scenario for burglar/fire alarms
TABLE 8 IMPORT DATA FOR BURGLAR/FIRE ALARMS (HS CODE 853110), BY COUNTRY, 2017–2021 (USD MILLION)
5.10.2 EXPORT SCENARIO
5.10.2.1 Export scenario for thermostats
TABLE 9 EXPORT DATA FOR THERMOSTATS (HS CODE 903210), BY COUNTRY, 2017–2021 (USD MILLION)
5.10.2.2 Export scenario for burglar/fire alarms
TABLE 10 EXPORT DATA FOR BURGLAR/FIRE ALARMS (HS CODE 853110), BY COUNTRY, 2017–2021 (USD MILLION)
5.11 PATENT ANALYSIS
TABLE 11 PATENTS IN SMART HOME MARKET, 2019–2022
FIGURE 36 PATENTS PUBLISHED FOR MARKET FROM 2013 TO 2022
TABLE 12 NUMBER OF PATENTS REGISTERED IN MARKET, 2013–2022
FIGURE 37 TOP 10 SMART HOME COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS, 2013–2022
5.12 TARIFF AND REGULATIONS
TABLE 13 MFN TARIFFS FOR THERMOSTATS EXPORTED BY US
TABLE 14 MFN TARIFFS FOR THERMOSTATS EXPORTED BY CHINA
TABLE 15 MFN TARIFFS FOR BURGLAR/FIRE ALARMS EXPORTED BY US
TABLE 16 MFN TARIFFS FOR BURGLAR/FIRE ALARMS EXPORTED BY CHINA
5.12.1 POSITIVE IMPACT OF TARIFF ON SMART HOME PRODUCTS
5.12.2 NEGATIVE IMPACT OF TARIFF ON SMART HOME PRODUCTS
5.12.3 REGULATIONS AND STANDARDS
5.12.3.1 Standards
5.12.3.2 Regulations
5.12.3.3 Regulatory framework for IoT and connected appliances in Europe, US, and Latin America
5.13 AVERAGE SELLING PRICE (ASP) OF VARIOUS COMPONENTS OF SMART HOME SYSTEMS
TABLE 17 AVERAGE SELLING PRICE OF VARIOUS COMPONENTS OF SMART HOME SYSTEMS
FIGURE 38 AVERAGE SELLING PRICE TREND FOR VIDEO SURVEILLANCE CAMERAS
FIGURE 39 AVERAGE SELLING PRICE OF SMART KITCHEN AND HOME APPLIANCES
6 MARKET FOR SOFTWARE & SERVICES, BY TYPE (Page No. - 139)
6.1 INTRODUCTION
FIGURE 40 MARKET FOR SOFTWARE & SERVICES, BY TYPE
TABLE 18 MARKET FOR SOFTWARE & SERVICES, BY TYPE, 2019–2022 (USD BILLION)
FIGURE 41 PROACTIVE SOFTWARE & SERVICES SEGMENT TO REGISTER HIGHER GROWTH DURING FORECAST PERIOD
TABLE 19 MARKET FOR SOFTWARE & SERVICES, BY TYPE, 2023–2028 (USD BILLION)
6.2 BEHAVIORAL SOFTWARE & SERVICES
6.2.1 LEARNS FROM USER BEHAVIOR AND RECOMMENDS NECESSARY ACTION
6.3 PROACTIVE SOFTWARE & SERVICES
6.3.1 AUTOMATICALLY IMPLEMENTS NECESSARY ACTION BASED ON USER BEHAVIOR
7 SMART HOME MARKET, BY PRODUCT (Page No. - 144)
7.1 INTRODUCTION
FIGURE 42 MARKET, BY PRODUCT
TABLE 20 MARKET, BY PRODUCT, 2019–2022 (USD MILLION)
FIGURE 43 SMART KITCHEN SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 21 MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
7.2 LIGHTING CONTROLS
7.2.1 MARKET DYNAMICS
7.2.1.1 Drivers
7.2.1.1.1 Growing demand for energy-efficient lighting solutions
7.2.1.1.2 Intensifying need for energy conservation and increasing efficiency of lighting products
7.2.1.1.3 Increasing smart city lighting initiatives worldwide
7.2.1.2 Restraints
7.2.1.2.1 Compatibility issues associated with lighting controls
7.2.1.2.2 Limited awareness about benefits of lighting controls
7.2.1.2.3 High installation cost
7.2.1.2.4 Security and privacy issues associated with smart lighting control systems
7.2.1.3 Opportunities
7.2.1.3.1 Consumer perception undergoing paradigm shift
7.2.1.3.2 Expanding mood lighting segment
7.2.1.3.3 Increasing demand for daylight sensors
7.2.2 PRODUCTS CONSIDERED UNDER LIGHTING CONTROLS
FIGURE 44 SMART HOME MARKET FOR LIGHTING CONTROL PRODUCTS
TABLE 22 MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
FIGURE 45 OCCUPANCY SENSORS TO HOLD LARGEST SHARE OF MARKET FOR LIGHTING CONTROLS IN 2023
TABLE 23 MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 24 MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 25 MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 26 MARKET FOR LIGHTING CONTROLS, BY REGION, 2019–2022 (USD MILLION)
TABLE 27 MARKET FOR LIGHTING CONTROLS, BY REGION, 2023–2028 (USD MILLION)
TABLE 28 MARKET FOR LIGHTING CONTROLS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 29 MARKET FOR LIGHTING CONTROLS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.2.2.1 Relays
7.2.2.1.1 Work as on/off switches in lighting control systems
TABLE 30 MARKET FOR RELAYS, BY REGION, 2019–2022 (USD MILLION)
TABLE 31 MARKET FOR RELAYS, BY REGION, 2023–2028 (USD MILLION)
TABLE 32 SMART HOME MARKET FOR RELAYS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 33 MARKET FOR RELAYS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.2.2.2 Occupancy sensors
7.2.2.2.1 Detect presence of individuals to switch lights on/off
TABLE 34 MARKET FOR OCCUPANCY SENSORS, BY REGION, 2019–2022 (USD MILLION)
TABLE 35 MARKET FOR OCCUPANCY SENSORS, BY REGION, 2023–2028 (USD MILLION)
TABLE 36 MARKET FOR OCCUPANCY SENSORS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 37 MARKET FOR OCCUPANCY SENSORS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.2.2.3 Daylight sensors
7.2.2.3.1 Function as photosensors to measure intensity of natural light and accordingly adjust amount of artificial light
TABLE 38 MARKET FOR DAYLIGHT SENSORS, BY REGION, 2019–2022 (USD MILLION)
TABLE 39 MARKET FOR DAYLIGHT SENSORS, BY REGION, 2023–2028 (USD MILLION)
TABLE 40 MARKET FOR DAYLIGHT SENSORS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 41 SMART HOME MARKET FOR DAYLIGHT SENSORS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.2.2.4 Timers
7.2.2.4.1 Used to turn lights on/off automatically after pre-specified time
TABLE 42 MARKET FOR TIMERS, BY REGION, 2019–2022 (USD MILLION)
TABLE 43 MARKET FOR TIMERS, BY REGION, 2023–2028 (USD MILLION)
TABLE 44 MARKET FOR TIMERS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 45 MARKET FOR TIMERS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.2.2.5 Dimmers
7.2.2.5.1 Used to adjust brightness in lighting control systems by means of voltage variation
TABLE 46 MARKET FOR DIMMERS, BY REGION, 2019–2022 (USD MILLION)
TABLE 47 MARKET FOR DIMMERS, BY REGION, 2023–2028 (USD MILLION)
TABLE 48 MARKET FOR DIMMERS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 49 MARKET FOR DIMMERS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.2.2.6 Switches
7.2.2.6.1 Switches can be categorized as manual and remote controlled
TABLE 50 MARKET FOR SWITCHES, BY REGION, 2019–2022 (USD MILLION)
TABLE 51 SMART HOME MARKET FOR SWITCHES, BY REGION, 2023–2028 (USD MILLION)
TABLE 52 MARKET FOR SWITCHES, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 53 MARKET FOR SWITCHES, BY REGION, 2023–2028 (THOUSAND UNITS)
7.2.2.7 Accessories & other products
TABLE 54 MARKET FOR ACCESSORIES & OTHER PRODUCTS, BY REGION, 2019–2022 (USD MILLION)
TABLE 55 MARKET FOR ACCESSORIES & OTHER PRODUCTS, BY REGION, 2023–2028 (USD MILLION)
TABLE 56 MARKET FOR ACCESSORIES & OTHER PRODUCTS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 57 MARKET FOR ACCESSORIES & OTHER PRODUCTS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.3 SECURITY & ACCESS CONTROLS
7.3.1 MARKET DYNAMICS
7.3.1.1 Drivers
7.3.1.1.1 Increasing crime rate leading to adoption of home security systems
7.3.1.1.2 Development of mobile interfaces
7.3.1.1.3 Development of multi-level/multifactor biometric access controls that enhance authentication processes
7.3.1.1.4 Rising adoption of IoT-based security systems
7.3.1.2 Restraints
7.3.1.2.1 Growing concerns with regard to privacy
7.3.1.2.2 High initial setup cost to hinder market growth
7.3.1.2.3 Limited adoption of access control as a service
7.3.1.3 Opportunities
7.3.1.3.1 Significant prospects of biometric technologies in home security applications
7.3.2 PRODUCTS COVERED UNDER SECURITY & ACCESS CONTROLS
FIGURE 46 SMART HOME MARKET FOR SECURITY & ACCESS CONTROL PRODUCTS
TABLE 58 MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
FIGURE 47 VIDEO SURVEILLANCE SYSTEMS SEGMENT TO HOLD LARGER SHARE OF SECURITY & ACCESS CONTROLS MARKET IN 2028
TABLE 59 MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 60 MARKET FOR SECURITY & ACCESS CONTROLS, BY REGION, 2019–2022 (USD MILLION)
TABLE 61 MARKET FOR SECURITY & ACCESS CONTROLS, BY REGION, 2023–2028 (USD MILLION)
7.3.2.1 Video surveillance systems
TABLE 62 MARKET FOR VIDEO SURVEILLANCE SYSTEMS, BY OFFERING, 2019–2022 (USD MILLION)
FIGURE 48 SOFTWARE SEGMENT TO REGISTER HIGHEST CAGR IN VIDEO SURVEILLANCE SYSTEMS MARKET DURING FORECAST PERIOD
TABLE 63 MARKET FOR VIDEO SURVEILLANCE SYSTEMS, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 64 MARKET FOR VIDEO SURVEILLANCE SYSTEMS, BY REGION, 2019–2022 (USD MILLION)
TABLE 65 MARKET FOR VIDEO SURVEILLANCE SYSTEMS, BY REGION, 2023–2028 (USD MILLION)
7.3.2.1.1 Hardware
TABLE 66 MARKET FOR VIDEO SURVEILLANCE SYSTEMS, BY HARDWARE, 2019–2022 (USD MILLION)
FIGURE 49 CAMERAS TO HOLD LARGEST SHARE OF MARKET FOR VIDEO SURVEILLANCE HARDWARE IN 2022
TABLE 67 MARKET FOR VIDEO SURVEILLANCE SYSTEMS, BY HARDWARE, 2023–2028 (USD MILLION)
7.3.2.1.1.1 Cameras
7.3.2.1.1.1.1 IP cameras
7.3.2.1.1.1.1.1 Can be accessed and controlled over IP networks
7.3.2.1.1.1.2 Analog cameras
7.3.2.1.1.1.2.1 Require lesser technical maintenance compared to IP cameras
TABLE 68 MARKET FOR VIDEO SURVEILLANCE CAMERAS, BY TYPE, 2019–2022 (USD MILLION)
TABLE 69 MARKET FOR VIDEO SURVEILLANCE CAMERAS, BY TYPE, 2023–2028 (USD MILLION)
TABLE 70 SMART HOME MARKET FOR VIDEO SURVEILLANCE CAMERAS, BY TYPE, 2019–2022 (THOUSAND UNITS)
TABLE 71 MARKET FOR VIDEO SURVEILLANCE CAMERAS, BY TYPE, 2023–2028 (THOUSAND UNITS)
7.3.2.1.1.2 Storage devices
7.3.2.1.1.2.1 Introduction of IP cameras to boost demand for IP-based surveillance storage systems and technologies
7.3.2.1.1.3 Monitors
7.3.2.1.1.3.1 Project data obtained by cameras as output of video surveillance systems
7.3.2.1.1.4 Other accessories
7.3.2.1.2 Software
7.3.2.1.2.1 Video analytics software
7.3.2.1.2.1.1 Automatically monitors cameras and alerts users about unusual or suspicious events
7.3.2.1.2.2 Video management software
7.3.2.1.2.2.1 Platform for video monitoring, recording, and analysis
7.3.2.1.2.3 Neural networks and algorithms
7.3.2.1.2.3.1 Used to extract patterns or coded data to identify behavioral smart home market trends
7.3.2.1.3 Services
7.3.2.1.3.1 Ensures effective working of video surveillance systems
7.3.2.2 Access control systems
TABLE 72 MARKET FOR ACCESS CONTROL SYSTEMS, BY OFFERING, 2019–2022 (USD MILLION)
FIGURE 50 HARDWARE SEGMENT TO HOLD LARGEST SHARE OF MARKET FOR ACCESS CONTROL SYSTEMS IN 2023
TABLE 73 MARKET FOR ACCESS CONTROL SYSTEMS, BY OFFERING, 2023–2028 (USD MILLION)
TABLE 74 MARKET FOR ACCESS CONTROL SYSTEMS, BY REGION, 2019–2022 (USD MILLION)
TABLE 75 MARKET FOR ACCESS CONTROL SYSTEMS, BY REGION, 2023–2028 (USD MILLION)
7.3.2.2.1 Hardware
TABLE 76 MARKET FOR ACCESS CONTROL HARDWARE, BY TYPE, 2019–2022 (USD MILLION)
FIGURE 51 CARD-BASED READERS SEGMENT TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
TABLE 77 MARKET FOR ACCESS CONTROL HARDWARE, BY TYPE, 2023–2028 (USD MILLION)
7.3.2.2.1.1 Card-based readers
7.3.2.2.1.1.1 Used to authenticate user identity
7.3.2.2.1.2 Multi-technology readers
7.3.2.2.1.2.1 Employ combination of card and biometrics
7.3.2.2.1.3 Electronic locks
7.3.2.2.1.3.1 Cannot be tampered with and provide better security than mechanical locks
7.3.2.2.1.4 Controllers
7.3.2.2.1.4.1 Control panels transmit data between readers and software through various types of communication interfaces
7.3.2.2.1.5 Biometric readers
TABLE 78 MARKET FOR BIOMETRIC READERS, BY TYPE, 2019–2022 (USD MILLION)
TABLE 79 MARKET FOR BIOMETRIC READERS, BY TYPE, 2023–2028 (USD MILLION)
TABLE 80 MARKET FOR BIOMETRIC READERS, BY TYPE, 2019–2022 (THOUSAND UNITS)
TABLE 81 MARKET FOR BIOMETRIC READERS, BY TYPE, 2023–2028 (THOUSAND UNITS)
7.3.2.2.1.6 Facial recognition
7.3.2.2.1.6.1 Uses numeric codes called face prints
7.3.2.2.1.7 Iris recognition
7.3.2.2.1.7.1 More detail-oriented and provides high level of security
7.3.2.2.1.8 Fingerprint recognition
7.3.2.2.1.8.1 Used in police investigations, defense-related purposes, and immigration applications
7.3.2.2.1.9 Palm recognition
7.3.2.2.1.9.1 Many unique advantages, including high recognition rate, low cost of acquisition equipment, and good user acceptance
7.3.2.2.1.10 Voice recognition
7.3.2.2.1.10.1 Enables hands-free control of devices
7.3.2.2.1.11 Others
7.3.2.3 Software
7.3.2.3.1 Often integrated with other security management platforms, such as video surveillance, intrusion, and visitor management systems
7.3.2.4 Services
7.3.2.4.1 Majorly include installation, support, and maintenance services
7.4 HVAC CONTROLS
7.4.1 MARKET DYNAMICS
7.4.1.1 Drivers
7.4.1.1.1 Flexibility and ease of accessing HVAC systems
7.4.1.1.2 Reduction in long-term energy costs through enhanced hardware, integrated control systems, and management services
7.4.1.1.3 Boom in construction sector
7.4.1.1.4 Emergence of IoT-enabled HVAC systems
7.4.1.2 Restraints
7.4.1.2.1 Lack of interoperability and standardization
7.4.1.2.2 Lack of awareness about benefits of HVAC control systems
7.4.1.2.3 High cost and technical complexities associated with installation of HVAC control systems
7.4.1.3 Opportunities
7.4.1.3.1 Innovations in sensors and controls
7.4.1.3.2 Growing demand for cloud computing in HVAC systems
7.4.1.3.3 Integration of smart devices with HVAC systems
7.4.2 PRODUCTS COVERED UNDER HVAC CONTROLS
FIGURE 52 MARKET FOR HVAC CONTROL PRODUCTS
TABLE 82 MARKET FOR HVAC CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
FIGURE 53 DAMPERS SEGMENT TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
TABLE 83 MARKET FOR HVAC CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 84 MARKET FOR HVAC CONTROLS, BY REGION, 2019–2022 (USD MILLION)
TABLE 85 MARKET FOR HVAC CONTROLS, BY REGION, 2023–2028 (USD MILLION)
7.4.2.1 Smart thermostats
7.4.2.1.1 Maintain temperature at required levels
TABLE 86 SMART HOME MARKET FOR SMART THERMOSTATS, BY REGION, 2019–2022 (USD MILLION)
TABLE 87 MARKET FOR SMART THERMOSTATS, BY REGION, 2023–2028 (USD MILLION)
TABLE 88 MARKET FOR SMART THERMOSTATS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 89 MARKET FOR SMART THERMOSTATS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.4.2.2 Sensors
7.4.2.2.1 Perform logical functions such as making decisions and communicating with other systems
TABLE 90 MARKET FOR SENSORS, BY REGION, 2019–2022 (USD MILLION)
TABLE 91 MARKET FOR SENSORS, BY REGION, 2023–2028 (USD MILLION)
7.4.2.3 Control valves
7.4.2.3.1 Regulate flow of fluids in various processes
TABLE 92 MARKET FOR CONTROL VALVES, BY REGION, 2019–2022 (USD MILLION)
TABLE 93 MARKET FOR CONTROL VALVES, BY REGION, 2023–2028 (USD MILLION)
7.4.2.4 Heating & cooling coils
7.4.2.4.1 HVAC systems use coils to maintain temperature
TABLE 94 MARKET FOR HEATING & COOLING COILS, BY REGION, 2019–2022 (USD MILLION)
TABLE 95 MARKET FOR HEATING & COOLING COILS, BY REGION, 2023–2028 (USD MILLION)
7.4.2.5 Dampers
7.4.2.5.1 Regulate flow of hot/cold air in rooms
TABLE 96 SMART HOME MARKET FOR DAMPERS, BY REGION, 2019–2022 (USD MILLION)
TABLE 97 MARKET FOR DAMPERS, BY REGION, 2023–2028 (USD MILLION)
7.4.2.6 Actuators
7.4.2.6.1 Control dampers and valves in HVAC systems
TABLE 98 MARKET FOR ACTUATORS, BY REGION, 2019–2022 (USD MILLION)
TABLE 99 MARKET FOR ACTUATORS, BY REGION, 2023–2028 (USD MILLION)
7.4.2.7 Pumps & fans
7.4.2.7.1 Essential components of HVAC control systems
TABLE 100 MARKET FOR PUMPS & FANS, BY REGION, 2019–2022 (USD MILLION)
TABLE 101 MARKET FOR PUMPS & FANS, BY REGION, 2023–2028 (USD MILLION)
7.4.2.8 Smart vents
7.4.2.8.1 Can be programmed to open and close according to temperature conditions
TABLE 102 MARKET FOR SMART VENTS, BY REGION, 2019–2022 (USD MILLION)
TABLE 103 MARKET FOR SMART VENTS, BY REGION, 2023–2028 (USD MILLION)
7.5 ENTERTAINMENT & OTHER CONTROLS
TABLE 104 SMART HOME MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
FIGURE 54 MARKET FOR ENTERTAINMENT CONTROLS TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 105 MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 106 MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY REGION, 2019–2022 (USD MILLION)
TABLE 107 MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY REGION, 2023–2028 (USD MILLION)
7.5.1 MARKET DYNAMICS
7.5.1.1 Drivers
7.5.1.1.1 Changing lifestyle of consumers
7.5.1.1.2 Enhanced level of comfort offered
7.5.1.1.3 Growing consumer inclination toward entertainment products
7.5.1.2 Restraints
7.5.1.2.1 High cost of entertainment control systems
7.5.1.2.2 Consumer apprehensions due to adverse effects on health from audio equipment and wireless entertainment devices
7.5.1.3 Opportunities
7.5.1.3.1 Development of 3D gesture-based remote entertainment controls
7.5.1.3.2 Integration of AI with entertainment devices
7.5.2 PRODUCTS COVERED UNDER ENTERTAINMENT CONTROL
FIGURE 55 MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT
TABLE 108 MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
FIGURE 56 AUDIO & VOLUME CONTROLS SEGMENT TO COMMAND LARGEST MARKET SHARE IN 2028
TABLE 109 MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 110 MARKET FOR ENTERTAINMENT CONTROLS, BY REGION, 2019–2022 (USD MILLION)
TABLE 111 SMART HOME MARKET FOR ENTERTAINMENT CONTROLS, BY REGION, 2023–2028 (USD MILLION)
7.5.2.1 Audio & volume controls
7.5.2.1.1 Enable playback and music control in homes
TABLE 112 MARKET FOR AUDIO & VOLUME CONTROLS, BY REGION, 2019–2022 (USD MILLION)
TABLE 113 MARKET FOR AUDIO & VOLUME CONTROLS, BY REGION, 2023–2028 (USD MILLION)
7.5.2.2 Home theater system controls
7.5.2.2.1 Designed to provide ultimate movie-viewing experience
TABLE 114 MARKET FOR HOME THEATER SYSTEM CONTROLS, BY REGION, 2019–2022 (USD MILLION)
TABLE 115 MARKET FOR HOME THEATER SYSTEM CONTROLS, BY REGION, 2023–2028 (USD MILLION)
7.5.2.3 Touchscreens & keypads
7.5.2.3.1 Control audio-video distribution at homes
TABLE 116 MARKET FOR TOUCHSCREENS & KEYPADS, BY REGION, 2019–2022 (USD MILLION)
TABLE 117 MARKET FOR TOUCHSCREENS & KEYPADS, BY REGION, 2023–2028 (USD MILLION)
7.5.3 OTHER CONTROL PRODUCTS
FIGURE 57 MARKET FOR OTHER CONTROLS, BY PRODUCT
TABLE 118 SMART HOME MARKET FOR OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
FIGURE 58 SMART HUBS SEGMENT TO REGISTER HIGHEST GROWTH DURING FORECAST PERIOD
TABLE 119 MARKET FOR OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 120 MARKET FOR OTHER CONTROLS, BY REGION, 2019–2022 (USD MILLION)
TABLE 121 MARKET FOR OTHER CONTROLS, BY REGION, 2023–2028 (USD MILLION)
7.5.3.1 Smart meters
7.5.3.1.1 Measure energy consumption and enable communication between users and utilities
TABLE 122 MARKET FOR SMART METERS, BY REGION, 2019–2022 (USD MILLION)
TABLE 123 MARKET FOR SMART METERS, BY REGION, 2023–2028 (USD MILLION)
7.5.3.2 Smart plugs
7.5.3.2.1 Help in managing and saving energy
TABLE 124 MARKET FOR SMART PLUGS, BY REGION, 2019–2022 (USD MILLION)
TABLE 125 MARKET FOR SMART PLUGS, BY REGION, 2023–2028 (USD MILLION)
7.5.3.3 Smart hubs
7.5.3.3.1 Control connected gadgets in smart homes
TABLE 126 MARKET FOR SMART HUBS, BY REGION, 2019–2022 (USD MILLION)
TABLE 127 MARKET FOR SMART HUBS, BY REGION, 2023–2028 (USD MILLION)
7.5.3.4 Smart locks
7.5.3.4.1 Enabled with wireless technologies such as Z-Wave, Zigbee, and NFC
TABLE 128 MARKET FOR SMART LOCKS, BY REGION, 2019–2022 (USD MILLION)
TABLE 129 MARKET FOR SMART LOCKS, BY REGION, 2023–2028 (USD MILLION)
7.5.3.5 Smoke detectors
7.5.3.5.1 Detect smoke faster than flame and heat detectors
TABLE 130 MARKET FOR SMOKE DETECTORS, BY REGION, 2019–2022 (USD MILLION)
TABLE 131 MARKET FOR SMOKE DETECTORS, BY REGION, 2023–2028 (USD MILLION)
7.6 SMART SPEAKERS
7.6.1 ENABLE CONTROL OF SMART DEVICES THROUGH USER VOICE CONTROL
TABLE 132 SMART HOME MARKET FOR SMART SPEAKERS, BY REGION, 2019–2022 (USD MILLION)
FIGURE 59 SMART SPEAKERS MARKET IN ASIA PACIFIC TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 133 MARKET FOR SMART SPEAKERS, BY REGION, 2023–2028 (USD MILLION)
TABLE 134 MARKET FOR SMART SPEAKERS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 135 MARKET FOR SMART SPEAKERS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.6.2 MARKET DYNAMICS
7.6.2.1 Drivers
7.6.2.1.1 Increasing number of smart homes
TABLE 136 REVENUE CONTRIBUTION FROM MARKET IN SMART CITIES
7.6.2.1.2 Rising disposable income
7.6.2.1.3 Proliferation of multifunctional devices
7.6.2.1.4 Growing MARKET trends of personalization
7.6.2.1.5 Entry of large internet/technology companies into smart speakers market
7.6.2.1.6 Growing popularity of smart speakers with displays
7.6.2.2 Restraints
7.6.2.2.1 Issues related to connectivity range, compatibility, and power
7.6.2.2.2 Concerns related to data security
7.6.2.3 Opportunities
7.6.2.3.1 Increasing consumer preference for technologically advanced products
FIGURE 60 CONCEPTUAL FRAMEWORK ON CONSUMER ACCEPTANCE OF NEW TECHNOLOGIES
7.6.2.3.2 Increasing focus of smart home companies on enhancing customer experience
FIGURE 61 TIMELINE OF SMART SPEAKERS OFFERED BY KEY PLAYERS
7.7 HOME HEALTHCARE
7.7.1 MARKET DYNAMICS
7.7.1.1 Drivers
7.7.1.1.1 Increasing awareness about fitness and rise in disposable income
7.7.1.1.2 Changing demographics to positively affect home health systems
7.7.1.1.3 Rising aging population, high incidence of chronic diseases, and need to expand home healthcare access
7.7.1.1.4 Aids provided by governments for home healthcare services
7.7.1.2 Restraints
7.7.1.2.1 Limited awareness and number of general healthcare facilities
7.7.1.2.2 Patient safety concerns
7.7.1.3 Opportunities
7.7.1.3.1 Emerging market for smart wearables to drive home healthcare market
7.7.2 PRODUCTS COVERED UNDER HOME HEALTHCARE
FIGURE 62 SMART HOME MARKET FOR HOME HEALTHCARE PRODUCTS
TABLE 137 MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (USD MILLION)
FIGURE 63 PHYSICAL ACTIVITY MONITORS SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
TABLE 138 MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 139 MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 140 MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 141 MARKET FOR HOME HEALTHCARE, BY REGION, 2019–2022 (USD MILLION)
TABLE 142 MARKET FOR HOME HEALTHCARE, BY REGION, 2023–2028 (USD MILLION)
TABLE 143 MARKET FOR HOME HEALTHCARE, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 144 MARKET FOR HOME HEALTHCARE, BY REGION, 2023–2028 (THOUSAND UNITS)
7.7.2.1 Health status monitors
7.7.2.1.1 Fitness and heart rate monitors
7.7.2.1.1.1 Growing health consciousness among people driving adoption of fitness and heart rate monitors
7.7.2.1.2 Blood pressure monitors
7.7.2.1.2.1 Growing emphasis on treatment and control of diseases contributing to demand for blood pressure monitors
7.7.2.1.3 Blood glucose meters
7.7.2.1.3.1 Increasing diabetic population to boost adoption of blood glucose meters
7.7.2.1.4 Continuous glucose monitors
7.7.2.1.4.1 Offer better results than conventional glucose monitoring systems
7.7.2.1.5 Pulse oximeters
7.7.2.1.5.1 Used to monitor oxygen level present in user’s blood
7.7.2.2 Fall detectors
7.7.2.2.1 Detects and notifies monitoring personnel if users collapse
TABLE 145 SMART HOME MARKET FOR HEALTH STATUS MONITORS, BY REGION, 2019–2022 (USD MILLION)
TABLE 146 MARKET FOR HEALTH STATUS MONITORS, BY REGION, 2023–2028 (USD MILLION)
TABLE 147 MARKET FOR HEALTH STATUS MONITORS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 148 MARKET FOR HEALTH STATUS MONITORS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.7.2.3 Physical activity monitors
7.7.2.3.1 Smart wearable devices used to track physical activity levels of users
TABLE 149 MARKET FOR PHYSICAL ACTIVITY MONITORS, BY REGION, 2019–2022 (USD MILLION)
TABLE 150 MARKET FOR PHYSICAL ACTIVITY MONITORS, BY REGION, 2023–2028 (USD MILLION)
TABLE 151 MARKET FOR PHYSICAL ACTIVITY MONITORS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 152 MARKET FOR PHYSICAL ACTIVITY MONITORS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.8 SMART KITCHEN
7.8.1 MARKET DYNAMICS
7.8.1.1 Drivers
7.8.1.1.1 Changing lifestyles and preferences of consumers
7.8.1.1.2 Rising importance of energy conservation
7.8.1.2 Restraints
7.8.1.2.1 High cost of smart kitchen appliances
7.8.1.3 Opportunities
7.8.1.3.1 Rising adoption of smart appliances in developing countries
7.8.1.3.2 Incorporation of IoT in kitchen appliances
7.8.2 PRODUCTS COVERED UNDER SMART KITCHEN
FIGURE 64 MARKET FOR SMART KITCHEN, BY PRODUCT
TABLE 153 MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (USD MILLION)
FIGURE 65 SMART DISHWASHERS SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 154 MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 155 MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 156 MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 157 MARKET FOR SMART KITCHEN, BY REGION, 2019–2022 (USD MILLION)
TABLE 158 SMART HOME MARKET FOR SMART KITCHEN, BY REGION, 2023–2028 (USD MILLION)
TABLE 159 MARKET FOR SMART KITCHEN, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 160 MARKET FOR SMART KITCHEN, BY REGION, 2023–2028 (THOUSAND UNITS)
7.8.2.1 Smart refrigerators
7.8.2.1.1 Keep track of how often doors have been opened
TABLE 161 MARKET FOR SMART REFRIGERATORS, BY REGION, 2019–2022 (USD MILLION)
TABLE 162 MARKET FOR SMART REFRIGERATORS, BY REGION, 2023–2028 (USD MILLION)
TABLE 163 MARKET FOR SMART REFRIGERATORS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 164 MARKET FOR SMART REFRIGERATORS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.8.2.2 Smart coffee makers
7.8.2.2.1 Wi-Fi- or Bluetooth-enabled devices that are fully automatic
TABLE 165 MARKET FOR SMART COFFEE MAKERS, BY REGION, 2019–2022 (USD MILLION)
TABLE 166 MARKET FOR SMART COFFEE MAKERS, BY REGION, 2023–2028 (USD MILLION)
TABLE 167 MARKET FOR SMART COFFEE MAKERS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 168 MARKET FOR SMART COFFEE MARKERS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.8.2.3 Smart kettles
7.8.2.3.1 Maintain temperature of water depending on user’s choice
TABLE 169 SMART HOME MARKET FOR SMART KETTLES, BY REGION, 2019–2022 (USD MILLION)
TABLE 170 MARKET FOR SMART KETTLES, BY REGION, 2023–2028 (USD MILLION)
TABLE 171 MARKET FOR SMART KETTLES, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 172 MARKET FOR SMART KETTLES, BY REGION, 2023–2028 (THOUSAND UNITS)
7.8.2.4 Smart dishwashers
7.8.2.4.1 Innovative features in smart dishwashers reduce human intervention
TABLE 173 MARKET FOR SMART DISHWASHERS, BY REGION, 2019–2022 (USD MILLION)
TABLE 174 MARKET FOR SMART DISHWASHERS, BY REGION, 2023–2028 (USD MILLION)
TABLE 175 MARKET FOR SMART DISHWASHERS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 176 MARKET FOR SMART DISHWASHERS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.8.2.5 Smart ovens
7.8.2.5.1 Help users reduce time required for cooking
TABLE 177 MARKET FOR SMART OVENS, BY REGION, 2019–2022 (USD MILLION)
TABLE 178 MARKET FOR SMART OVENS, BY REGION, 2023–2028 (USD MILLION)
TABLE 179 SMART HOME MARKET FOR SMART OVENS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 180 MARKET FOR SMART OVENS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.8.2.6 Smart cooktops
7.8.2.6.1 Ensure accurate heat circulation
TABLE 181 MARKET FOR SMART COOKTOPS, BY REGION, 2019–2022 (USD MILLION)
TABLE 182 MARKET FOR SMART COOKTOPS, BY REGION, 2023–2028 (USD MILLION)
TABLE 183 MARKET FOR SMART COOKTOPS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 184 MARKET FOR SMART COOKTOPS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.8.2.7 Smart cookers
7.8.2.7.1 Can be accessed and controlled through apps on smartphones or tablets
TABLE 185 MARKET FOR SMART COOKERS, BY REGION, 2019–2022 (USD MILLION)
TABLE 186 MARKET FOR SMART COOKERS, BY REGION, 2023–2028 (USD MILLION)
TABLE 187 MARKET FOR SMART COOKERS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 188 MARKET FOR SMART COOKERS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.9 HOME APPLIANCES
7.9.1 MARKET DYNAMICS
7.9.1.1 Drivers
7.9.1.1.1 Availability of wireless solutions
7.9.1.1.2 Rising energy prices to increase adoption of smart appliances
7.9.1.1.3 Increasing penetration of internet and smartphones worldwide
7.9.1.2 Restraints
7.9.1.2.1 Privacy concerns among end users
FIGURE 66 US: NUMBER OF DATA COMPROMISES, 2015–2021
7.9.1.2.2 Lack of awareness about smart appliances
7.9.1.3 Opportunities
7.9.1.3.1 Machine-to-machine (M2M) communication to provide new growth avenues
7.9.1.3.2 Integration of new technologies, such as AI, with smart appliances
7.9.2 PRODUCTS COVERED UNDER HOME APPLIANCES
FIGURE 67 SMART HOME MARKET FOR HOME APPLIANCE PRODUCTS
TABLE 189 MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (USD MILLION)
FIGURE 68 SMART WASHERS SEGMENT TO HOLD LARGEST MARKET SHARE IN 2023
TABLE 190 MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 191 MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 192 MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 193 MARKET FOR HOME APPLIANCES, BY REGION, 2019–2022 (USD MILLION)
TABLE 194 MARKET FOR HOME APPLIANCES, BY REGION, 2023–2028 (USD MILLION)
TABLE 195 MARKET FOR HOME APPLIANCES, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 196 MARKET FOR HOME APPLIANCES, BY REGION, 2023–2028 (THOUSAND UNITS)
7.9.2.1 Smart washers
7.9.2.1.1 Innovative features in smart washers reduce human intervention
TABLE 197 MARKET FOR SMART WASHERS, BY REGION, 2019–2022 (USD MILLION)
TABLE 198 MARKET FOR SMART WASHERS, BY REGION, 2023–2028 (USD MILLION)
TABLE 199 MARKET FOR SMART WASHERS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 200 MARKET FOR SMART WASHERS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.9.2.2 Smart dryers
7.9.2.2.1 Help to increase energy efficiency and reduce human intervention
TABLE 201 MARKET FOR SMART DRYERS, BY REGION, 2019–2022 (USD MILLION)
TABLE 202 MARKET FOR SMART DRYERS, BY REGION, 2023–2028 (USD MILLION)
TABLE 203 SMART HOME MARKET FOR SMART DRYERS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 204 MARKET FOR SMART DRYERS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.9.2.3 Smart water heaters
7.9.2.3.1 Can turn off automatically when hot water demands are low
TABLE 205 MARKET FOR SMART WATER HEATERS, BY REGION, 2019–2022 (USD MILLION)
TABLE 206 MARKET FOR SMART WATER HEATERS, BY REGION, 2023–2028 (USD MILLION)
TABLE 207 MARKET FOR SMART WATER HEATERS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 208 MARKET FOR SMART WATER HEATERS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.9.2.4 Smart vacuum cleaners
7.9.2.4.1 Integration with robotic technology to fuel demand for smart vacuum cleaners
TABLE 209 MARKET FOR SMART VACUUM CLEANERS, BY REGION, 2019–2022 (USD MILLION)
TABLE 210 MARKET FOR SMART VACUUM CLEANERS, BY REGION, 2023–2028 (USD MILLION)
TABLE 211 MARKET FOR SMART VACUUM CLEANERS, BY REGION, 2019–2022 (THOUSAND UNITS)
TABLE 212 MARKET FOR SMART VACUUM CLEANERS, BY REGION, 2023–2028 (THOUSAND UNITS)
7.1 SMART FURNITURE
7.10.1 MARKET DYNAMICS
7.10.1.1 Drivers
7.10.1.1.1 Changing consumer lifestyles
7.10.1.1.2 Growing MARKET trends toward adoption of space-saving furniture
7.10.1.2 Restraints
7.10.1.2.1 Reluctance toward adopting new technologies
7.10.1.2.2 High price of smart furniture
7.10.1.3 Opportunities
7.10.1.3.1 Incorporation of robotics into smart furniture
7.10.2 PRODUCTS COVERED UNDER SMART FURNITURE
FIGURE 69 MARKET FOR SMART FURNITURE PRODUCTS
TABLE 213 SMART HOME MARKET FOR SMART FURNITURE, BY PRODUCT, 2019–2022 (USD MILLION)
FIGURE 70 SMART SOFAS SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
TABLE 214 MARKET FOR SMART FURNITURE, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 215 MARKET FOR SMART FURNITURE, BY REGION, 2019–2022 (USD MILLION)
TABLE 216 MARKET FOR SMART FURNITURE, BY REGION, 2023–2028 (USD MILLION)
7.10.2.1 Smart tables
7.10.2.1.1 Feature integrated induction-based drink warmer to maintain temperature of beverage
TABLE 217 MARKET FOR SMART TABLES, BY REGION, 2019–2022 (USD MILLION)
TABLE 218 MARKET FOR SMART TABLES, BY REGION, 2023–2028 (USD MILLION)
7.10.2.2 Smart desks
7.10.2.2.1 Provides multiple health benefits to users
TABLE 219 MARKET FOR SMART DESKS, BY REGION, 2019–2022 (USD MILLION)
TABLE 220 MARKET FOR SMART DESKS, BY REGION, 2023–2028 (USD MILLION)
7.10.2.3 Smart stools & benches
7.10.2.3.1 Help in reducing energy costs
TABLE 221 MARKET FOR SMART STOOLS & BENCHES, BY REGION, 2019–2022 (USD MILLION)
TABLE 222 MARKET FOR SMART STOOLS & BENCHES, BY REGION, 2023–2028 (USD MILLION)
7.10.2.4 Smart sofas
7.10.2.4.1 Equipped with sensors to help adjust shape as per user’s requirement
TABLE 223 MARKET FOR SMART SOFAS, BY REGION, 2019–2022 (USD MILLION)
TABLE 224 MARKET FOR SMART SOFAS, BY REGION, 2023–2028 (USD MILLION)
7.10.2.5 Smart chairs
7.10.2.5.1 Help in promoting healthy sitting posture
TABLE 225 MARKET FOR SMART CHAIRS, BY REGION, 2019–2022 (USD MILLION)
TABLE 226 MARKET FOR SMART CHAIRS, BY REGION, 2023–2028 (USD MILLION)
8 MARKET, BY SALES CHANNEL (Page No. - 272)
8.1 INTRODUCTION
FIGURE 71 MARKET SEGMENTATION, BY SALES CHANNEL
TABLE 227 SMART HOME MARKET, BY SALES CHANNEL, 2019–2022 (USD BILLION)
FIGURE 72 INDIRECT SALES CHANNEL TO HOLD LARGER MARKET SHARE IN 2028
TABLE 228 MARKET, BY SALES CHANNEL, 2023–2028 (USD BILLION)
8.2 DIRECT SALES CHANNEL
8.2.1 PLAYERS WITH LIMITED SALES CHANNELS AND DISTRIBUTION NETWORKS TO OPT FOR DIRECT SALES
TABLE 229 MARKET FOR DIRECT SALES, BY REGION, 2019–2022 (USD BILLION)
TABLE 230 MARKET FOR DIRECT SALES, BY REGION, 2023–2028 (USD BILLION)
8.3 INDIRECT SALES CHANNEL
8.3.1 INCREASED CONVENIENCE TO ENHANCE CUSTOMER EXPERIENCE
TABLE 231 MARKET FOR INDIRECT SALES, BY REGION, 2019–2022 (USD BILLION)
TABLE 232 MARKET FOR INDIRECT SALES, BY REGION, 2023–2028 (USD BILLION)
9 MARKET, BY REGION (Page No. - 277)
9.1 INTRODUCTION
FIGURE 73 CHINA TO WITNESS HIGHEST GROWTH IN MARKET DURING FORECAST PERIOD
TABLE 233 MARKET, BY REGION, 2019–2022 (USD BILLION)
FIGURE 74 ASIA PACIFIC FASTEST-GROWING REGION IN MARKET FROM 2023 TO 2028
TABLE 234 MARKET, BY REGION, 2023–2028 (USD BILLION)
9.2 NORTH AMERICA
9.2.1 REGULATORY FRAMEWORKS
9.2.1.1 Associations
9.2.1.2 Regulations and acts
FIGURE 75 NORTH AMERICA: MARKET SNAPSHOT
TABLE 235 NORTH AMERICA: SMART HOME MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
TABLE 236 NORTH AMERICA: MARKET, BY COUNTRY, 2023–2028 (USD BILLION)
TABLE 237 NORTH AMERICA: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 238 NORTH AMERICA: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 239 NORTH AMERICA: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 240 NORTH AMERICA: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 241 NORTH AMERICA: MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 242 NORTH AMERICA: MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 243 NORTH AMERICA: MARKET FOR HVAC CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 244 NORTH AMERICA: MARKET FOR HVAC CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 245 NORTH AMERICA: MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 246 NORTH AMERICA: MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 247 NORTH AMERICA: MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 248 NORTH AMERICA: MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 249 NORTH AMERICA: MARKET FOR OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 250 NORTH AMERICA: MARKET FOR OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 251 NORTH AMERICA: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 252 NORTH AMERICA: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 253 NORTH AMERICA: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 254 NORTH AMERICA: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 255 NORTH AMERICA: MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 256 NORTH AMERICA: MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 257 NORTH AMERICA: MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 258 NORTH AMERICA: MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 259 NORTH AMERICA: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 260 NORTH AMERICA: SMART HOME MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 261 NORTH AMERICA: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 262 NORTH AMERICA: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 263 NORTH AMERICA: MARKET FOR SMART FURNITURE, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 264 NORTH AMERICA: MARKET FOR SMART FURNITURE, BY PRODUCT, 2023–2028 (USD MILLION)
9.2.2 US
9.2.2.1 Presence of various key players to support market growth
9.2.3 CANADA
9.2.3.1 Growing economy to result in increased focus on transitioning toward smart homes
9.2.4 MEXICO
9.2.4.1 Growing economy and increasing use of consumer electronics to favor market growth
9.2.5 RANKING OF SMART CONTROL ECOSYSTEMS IN NORTH AMERICA
TABLE 265 RANKING IN NORTH AMERICA
TABLE 266 IMPACTFUL SMART CONTROLS/HUBS/PLATFORMS IN NORTH AMERICA
9.3 EUROPE
9.3.1 REGULATORY FRAMEWORKS
FIGURE 76 EUROPE: MARKET SNAPSHOT
TABLE 267 EUROPE: MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
TABLE 268 EUROPE: MARKET, BY COUNTRY, 2023–2028 (USD BILLION)
TABLE 269 EUROPE: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 270 EUROPE: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 271 EUROPE: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 272 EUROPE: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 273 EUROPE: MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 274 EUROPE: MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 275 EUROPE: MARKET FOR HVAC CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 276 EUROPE: MARKET FOR HVAC CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 277 EUROPE: MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 278 EUROPE: SMART HOME MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 279 EUROPE: MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 280 EUROPE: MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 281 EUROPE: MARKET FOR OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 282 EUROPE: MARKET FOR OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 283 EUROPE: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 284 EUROPE: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 285 EUROPE: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 286 EUROPE: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 287 EUROPE: MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 288 EUROPE: MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 289 EUROPE: MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 290 EUROPE: MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 291 EUROPE: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 292 EUROPE: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 293 EUROPE: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 294 EUROPE: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 295 EUROPE: MARKET FOR SMART FURNITURE, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 296 EUROPE: MARKET FOR SMART FURNITURE, BY PRODUCT, 2023–2028 (USD MILLION)
9.3.2 UK
9.3.2.1 Initiatives to prevent fire accidents to support market growth
9.3.3 GERMANY
9.3.3.1 Adoption of zero-energy systems and development of smart cities to drive market
9.3.4 FRANCE
9.3.4.1 Initiatives to promote adoption of energy-saving products to propel market
9.3.5 ITALY
9.3.5.1 Government activities to promote minimum energy consumption products to boost market growth
9.3.6 REST OF EUROPE
9.3.7 RANKING OF SMART CONTROL ECOSYSTEMS IN EUROPE
TABLE 297 RANKING IN EUROPE
TABLE 298 FEW IMPACTFUL SMART CONTROLS/HUBS/PLATFORMS IN EUROPE
9.4 ASIA PACIFIC
9.4.1 REGULATORY FRAMEWORKS
FIGURE 77 ASIA PACIFIC: SMART HOME MARKET SNAPSHOT
TABLE 299 ASIA PACIFIC: MARKET, BY COUNTRY, 2019–2022 (USD BILLION)
TABLE 300 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2028 (USD BILLION)
TABLE 301 ASIA PACIFIC: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 302 ASIA PACIFIC: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 303 ASIA PACIFIC: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 304 ASIA PACIFIC: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 305 ASIA PACIFIC: MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 306 ASIA PACIFIC: MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 307 ASIA PACIFIC: MARKET FOR HVAC CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 308 ASIA PACIFIC: MARKET FOR HVAC CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 309 ASIA PACIFIC: MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 310 ASIA PACIFIC: MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 311 ASIA PACIFIC: MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 312 ASIA PACIFIC: MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 313 ASIA PACIFIC: MARKET FOR OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 314 ASIA PACIFIC: MARKET FOR OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 315 ASIA PACIFIC: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 316 ASIA PACIFIC: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 317 ASIA PACIFIC: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 318 ASIA PACIFIC: SMART HOME MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 319 ASIA PACIFIC: MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 320 ASIA PACIFIC: MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 321 ASIA PACIFIC: MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 322 ASIA PACIFIC: MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 323 ASIA PACIFIC: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 324 ASIA PACIFIC: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 325 ASIA PACIFIC: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 326 ASIA PACIFIC: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 327 ASIA PACIFIC: MARKET FOR SMART FURNITURE, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 328 ASIA PACIFIC: MARKET FOR SMART FURNITURE, BY PRODUCT, 2023–2028 (USD MILLION)
9.4.2 JAPAN
9.4.2.1 High penetration rate of internet in households to favor market
9.4.3 SOUTH KOREA
9.4.3.1 High demand for advanced security due to growing security concerns to propel market
9.4.4 CHINA
9.4.4.1 Government initiatives for development of smart homes to drive market
9.4.5 AUSTRALIA
9.4.5.1 High demand for entertainment controls and security & access controls to boost market
9.4.6 REST OF ASIA PACIFIC
9.4.7 RANKING OF SMART CONTROL ECOSYSTEMS IN ASIA PACIFIC
TABLE 329 RANKING IN ASIA PACIFIC
TABLE 330 IMPACTFUL SMART CONTROLS/HUBS/PLATFORMS IN ASIA PACIFIC
9.5 REST OF THE WORLD
9.5.1 REGULATORY FRAMEWORKS
TABLE 331 REST OF THE WORLD: MARKET, BY REGION, 2019–2022 (USD BILLION)
FIGURE 78 SOUTH AMERICA TO HOLD LARGEST SHARE OF MARKET IN 2023
TABLE 332 REST OF THE WORLD: SMART HOME MARKET, BY REGION, 2023–2028 (USD BILLION)
TABLE 333 REST OF THE WORLD: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 334 REST OF THE WORLD: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 335 REST OF THE WORLD: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 336 REST OF THE WORLD: MARKET FOR LIGHTING CONTROLS, BY PRODUCT, 2023–2028(THOUSAND UNITS)
TABLE 337 REST OF THE WORLD: MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 338 REST OF THE WORLD: MARKET FOR SECURITY & ACCESS CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 339 REST OF THE WORLD: MARKET FOR HVAC CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 340 REST OF THE WORLD: MARKET FOR HVAC CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 341 REST OF THE WORLD: MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 342 REST OF THE WORLD: MARKET FOR ENTERTAINMENT & OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 343 REST OF THE WORLD: MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 344 REST OF THE WORLD: MARKET FOR ENTERTAINMENT CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 345 REST OF THE WORLD: MARKET FOR OTHER CONTROLS, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 346 REST OF THE WORLD: MARKET FOR OTHER CONTROLS, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 347 REST OF THE WORLD: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 348 REST OF THE WORLD: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 349 REST OF THE WORLD: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 350 REST OF THE WORLD: MARKET FOR HOME HEALTHCARE, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 351 REST OF THE WORLD: SMART HOME MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 352 REST OF THE WORLD: MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 353 REST OF THE WORLD: MARKET FOR SMART KITCHEN, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 354 REST OF THE WORLD: MARKET FOR SMART KITCHEN, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 355 REST OF THE WORLD: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 356 REST OF THE WORLD: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (USD MILLION)
TABLE 357 REST OF THE WORLD: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2019–2022 (THOUSAND UNITS)
TABLE 358 REST OF THE WORLD: MARKET FOR HOME APPLIANCES, BY PRODUCT, 2023–2028 (THOUSAND UNITS)
TABLE 359 REST OF THE WORLD: MARKET FOR SMART FURNITURE, BY PRODUCT, 2019–2022 (USD MILLION)
TABLE 360 REST OF THE WORLD: MARKET FOR SMART FURNITURE, BY PRODUCT, 2023–2028 (USD MILLION)
9.5.2 SOUTH AMERICA
9.5.2.1 Government initiatives to support infrastructural development to boost market
9.5.3 MIDDLE EAST
9.5.3.1 Growing consumer awareness regarding benefits of smart appliances to fuel market
9.5.4 AFRICA
9.5.4.1 Growing security concerns coupled with rising awareness of energy conservation to support market
9.5.5 RANKING OF SMART CONTROL ECOSYSTEMS IN REST OF THE WORLD
TABLE 361 RANKING IN MIDDLE EAST
10 PROTOCOLS AND TECHNOLOGIES USED IN SMART HOMES (Page No. - 342)
10.1 INTRODUCTION
FIGURE 79 SMART HOME PROTOCOLS AND TECHNOLOGIES
10.2 CELLULAR NETWORK TECHNOLOGIES
10.2.1 CDMA NETWORK
10.2.1.1 Helps control smart home appliances and systems using channel access method
10.2.2 GSM/HSPA NETWORK
10.2.2.1 GSM modems control home appliances via short message services
FIGURE 80 GSM/HSPA NETWORK SETUP
10.2.3 LTE NETWORK
10.2.3.1 Enables real-time transfer of data across networks to remotely control smart home applications
10.3 PROTOCOLS AND STANDARDS
10.3.1 DALI
10.3.1.1 Full-duplex system that brings digital technology to lighting sector
FIGURE 81 WIRING FOR DALI FLUORESCENT DIMMING
10.3.2 NEMA
10.3.2.1 Standardizes necessary control devices needed to build complete lighting systems
10.3.3 KNX
10.3.3.1 Open standard supporting five communication media, making it versatile to use
10.3.4 DMX
10.3.4.1 Used in communication networks that control lights and effects
10.3.5 LONWORKS
10.3.5.1 Helps in building automation applications designed on low bandwidth for networking devices
FIGURE 82 LONWORKS NETWORK SETUP
10.3.6 ETHERNET
10.3.6.1 Ethernet-based systems used in home entertainment systems or whole-house automation solutions
10.3.7 MODBUS
10.3.7.1 Modbus transmits information between electronic devices over serial lines or via Ethernet
10.3.8 BACNET
10.3.8.1 BACnet protocol commonly used in building automation applications such as HVAC control, lighting control, and smart elevators
10.3.9 BLACK BOX
10.3.9.1 Helps in home automation and integration of home devices into a single console
10.3.10 PLC
10.3.10.1 Uses electric power for data transmission
10.4 WIRELESS COMMUNICATION TECHNOLOGIES
FIGURE 83 WIRELESS COMMUNICATION TECHNOLOGIES
10.4.1 ZIGBEE
10.4.1.1 Used in smart homes to carry small amounts of data over mid-range
10.4.2 Z-WAVE
10.4.2.1 Used in wireless residential control products and services
10.4.3 WI-FI
10.4.3.1 Ideal for data transmission across short distances in small and medium home automation systems
10.4.4 BLUETOOTH
10.4.4.1 Ensures interoperability, minimal interference, and energy efficiency in areas like automation, control, security, and energy management
10.4.5 ENOCEAN
10.4.5.1 Designed for smart home solutions dependent on energy-producing technologies
10.4.6 THREAD
10.4.6.1 Common standard used in smart home applications to connect them over internet and with cloud
10.4.7 INFRARED
10.4.7.1 Used in smart home applications for short- and medium-range communications and control
10.4.8 MESSAGE QUEUING TELEMETRY TRANSPORT (MQTT)
10.4.8.1 Used to send messages between devices in a distributed network
11 COMPETITIVE LANDSCAPE (Page No. - 355)
11.1 OVERVIEW
11.2 STRATEGIES ADOPTED BY KEY PLAYERS
TABLE 362 OVERVIEW OF STRATEGIES DEPLOYED BY SMART HOME COMPANIES
11.2.1 PRODUCT PORTFOLIO
11.2.2 REGIONAL FOCUS
11.2.3 MANUFACTURING FOOTPRINT
11.2.4 ORGANIC/INORGANIC PLAY
11.3 REVENUE ANALYSIS
FIGURE 84 FIVE-YEAR REVENUE ANALYSIS OF TOP FIVE PLAYERS IN MARKET FOR HOME AUTOMATION SYSTEMS
11.4 MARKET SHARE ANALYSIS
TABLE 363 DEGREE OF COMPETITION: MARKET FOR HOME AUTOMATION SYSTEMS, 2022
FIGURE 85 SMART HOME MARKET SHARE ANALYSIS, BY KEY PLAYER, 2022
11.5 COMPANY EVALUATION QUADRANT
11.5.1 STARS
11.5.2 EMERGING LEADERS
11.5.3 PERVASIVE PLAYERS
11.5.4 PARTICIPANTS
FIGURE 86 SMART HOME MARKET: COMPANY EVALUATION QUADRANT, 2022
11.6 STARTUP/SME EVALUATION MATRIX
TABLE 364 STARTUPS/SMES IN MARKET
11.6.1 PROGRESSIVE COMPANIES
11.6.2 RESPONSIVE COMPANIES
11.6.3 DYNAMIC COMPANIES
11.6.4 STARTING BLOCKS
FIGURE 87 SMART HOME MARKET: STARTUP/SME EVALUATION MATRIX, 2022
TABLE 365 STARTUP PRODUCT MAPPING
11.7 FOOTPRINT ANALYSIS OF COMPANIES
TABLE 366 OVERALL FOOTPRINT ANALYSIS OF COMPANIES
TABLE 367 PRODUCT FOOTPRINT ANALYSIS OF COMPANIES
TABLE 368 SALES FOOTPRINT ANALYSIS OF COMPANIES
TABLE 369 REGIONAL FOOTPRINT ANALYSIS OF COMPANIES
11.8 COMPETITIVE SITUATIONS AND TRENDS
11.8.1 PRODUCT LAUNCHES
TABLE 370 PRODUCT LAUNCHES, JANUARY 2019–JANUARY 2023
11.8.2 DEALS
TABLE 371 DEALS, JANUARY 2019–JANUARY 2023
11.8.3 OTHER DEVELOPMENTS
TABLE 372 OTHER DEVELOPMENTS, JANUARY 2019–JANUARY 2023
12 COMPANY PROFILES (Page No. - 407)
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*
12.1 KEY PLAYERS
12.1.1 HONEYWELL
TABLE 373 HONEYWELL: BUSINESS OVERVIEW
FIGURE 88 HONEYWELL: COMPANY SNAPSHOT
12.1.2 SIEMENS
TABLE 374 SIEMENS: BUSINESS OVERVIEW
FIGURE 89 SIEMENS: COMPANY SNAPSHOT
12.1.3 JOHNSON CONTROLS
TABLE 375 JOHNSON CONTROLS: BUSINESS OVERVIEW
FIGURE 90 JOHNSON CONTROLS: COMPANY SNAPSHOT
12.1.4 SCHNEIDER ELECTRIC
TABLE 376 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW
FIGURE 91 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
12.1.5 ASSA ABLOY
TABLE 377 ASSA ABLOY: BUSINESS OVERVIEW
FIGURE 92 ASSA ABLOY: COMPANY SNAPSHOT
12.1.6 AMAZON
TABLE 378 AMAZON: BUSINESS OVERVIEW
FIGURE 93 AMAZON: COMPANY SNAPSHOT
12.1.7 APPLE
TABLE 379 APPLE: BUSINESS OVERVIEW
FIGURE 94 APPLE: COMPANY SNAPSHOT
12.1.8 ADT
TABLE 380 ADT: BUSINESS OVERVIEW
FIGURE 95 ADT: COMPANY SNAPSHOT
12.1.9 ROBERT BOSCH
TABLE 381 ROBERT BOSCH: BUSINESS OVERVIEW
FIGURE 96 ROBERT BOSCH: COMPANY SNAPSHOT
12.1.10 ABB
TABLE 382 ABB: BUSINESS OVERVIEW
FIGURE 97 ABB: COMPANY SNAPSHOT
12.2 OTHER PLAYERS
12.2.1 SAMSUNG ELECTRONICS
12.2.2 SONY
12.2.3 OOMA
12.2.4 DELTA CONTROLS
12.2.5 CONTROL4
12.2.6 AXIS COMMUNICATIONS
12.2.7 COMCAST
12.2.8 ECOBEE
12.2.9 CRESTRON ELECTRONICS
12.2.10 SIMPLISAFE
12.2.11 SAVANT
12.2.12 CANARY
12.2.13 LG ELECTRONICS
12.2.14 LUTRON
12.2.15 LEGRAND
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.
13 ADJACENT AND RELATED MARKETS (Page No. - 496)
13.1 INTRODUCTION
13.2 LIMITATIONS
13.3 CLEANING ROBOT MARKET
13.3.1 MARKET DEFINITION
13.3.2 MARKET OVERVIEW
13.3.3 CLEANING ROBOT MARKET, BY PRODUCT
FIGURE 98 FLOOR-CLEANING ROBOTS TO HOLD LARGEST SIZE OF CLEANING ROBOT MARKET BETWEEN 2022 AND 2027
TABLE 383 CLEANING ROBOT MARKET, BY PRODUCT, 2018–2021 (USD MILLION)
TABLE 384 CLEANING ROBOT MARKET, BY PRODUCT, 2022–2027 (USD MILLION)
13.3.4 CLEANING ROBOT MARKET, BY APPLICATION
FIGURE 99 CLEANING ROBOT MARKET FOR RESIDENTIAL APPLICATIONS TO HOLD MAJORITY SHARE BETWEEN 2022 AND 2027
TABLE 385 CLEANING ROBOT MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 386 CLEANING ROBOT MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
13.3.5 CLEANING ROBOT MARKET, BY REGION
FIGURE 100 CLEANING ROBOT MARKET IN ASIA PACIFIC TO REGISTER HIGHEST CAGR BETWEEN 2022 AND 2027
TABLE 387 CLEANING ROBOT MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 388 CLEANING ROBOT MARKET, BY REGION, 2022–2027 (USD MILLION)
13.4 BUILDING AUTOMATION SYSTEM MARKET
13.4.1 MARKET DEFINITION
13.4.2 MARKET OVERVIEW
13.4.3 BUILDING AUTOMATION SYSTEM MARKET, BY OFFERING
FIGURE 101 SECURITY & ACCESS CONTROLS SEGMENT HELD LARGEST MARKET SHARE IN 2022
TABLE 389 BUILDING AUTOMATION SYSTEM MARKET, BY OFFERING, 2018–2021 (USD MILLION)
TABLE 390 BUILDING AUTOMATION SYSTEM MARKET, BY OFFERING, 2022–2027 (USD MILLION)
13.4.4 BUILDING AUTOMATION SYSTEM MARKET, BY APPLICATION
FIGURE 102 COMMERCIAL APPLICATIONS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2027
TABLE 391 BUILDING AUTOMATION SYSTEM MARKET, BY APPLICATION, 2018–2021 (USD MILLION)
TABLE 392 BUILDING AUTOMATION SYSTEM MARKET, BY APPLICATION, 2022–2027 (USD MILLION)
13.4.5 BUILDING AUTOMATION SYSTEM MARKET, BY REGION
FIGURE 103 BUILDING AUTOMATION SYSTEM MARKET IN ASIA PACIFIC TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
TABLE 393 BUILDING AUTOMATION SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION)
TABLE 394 BUILDING AUTOMATION SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION)
14 APPENDIX (Page No. - 508)
14.1 DISCUSSION GUIDE
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.3 CUSTOMIZATION OPTIONS
14.4 RELATED REPORTS
14.5 AUTHOR DETAILS
The study involved four major activities in estimating the size of the smart home market. Exhaustive secondary research has been done to collect information on the market, peer market, and parent market. Validation of these findings, assumptions, and sizing with smart home industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the global market size. After that, market breakdown and data triangulation have been used to estimate the market sizes of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources were referred to for identifying and collecting information important for this study. The secondary sources include corporate filings (such as annual reports, investor presentations, and financial statements), trade shows, professional associations, white papers, process and communication-related journals, websites, and certified publications. They also include articles from recognized authors, gold- and silver-standard websites, directories, and databases. The secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, and key developments from both market- and technology-oriented perspectives. The secondary data was collected and analyzed to arrive at the overall market size, which was further validated through primary research.
Primary Research
In the primary research process, various primary sources from both supply and demand sides were interviewed to obtain qualitative information for this report. The primary sources from the supply side include smart home industry experts such as CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from the major smart home companies and organizations operating in the smart home market.
After the complete market engineering (which includes calculations for market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at in this process. Primary research was conducted to identify segmentation types, industry trends, key players, competitive landscape, and key market dynamics, such as drivers, restraints, opportunities, and challenges, along with the key strategies adopted by the players operating in the smart home market.
Extensive primary research was conducted after acquiring knowledge about the smart home market through secondary research. Several primary interviews were conducted with market experts from the demand and supply sides across four major regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). RoW comprises the Middle East and Africa. Approximately 60% and 40% of primary interviews were conducted with both the demand and supply sides, respectively. This primary data was collected through questionnaires, emails, and telephonic interviews.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the total size of the smart home market. These methods have also been extensively used to estimate the sizes of various market subsegments. The research methodology used to estimate the market sizes includes the following:
- Identifying various applications that use or are expected to use smart homes market.
- Analyzing historical and current data pertaining to the size of the smart homes market for each application
- Analyzing the average selling prices of smart homes based on different technologies
- Studying various paid and unpaid sources, such as annual reports, press releases, white papers, and databases
- Identifying leading providers of smart homes, studying their portfolios, and understanding features of their products and their underlying technologies, as well as the types of smart homes products offered
- Tracking ongoing and identifying upcoming developments in the market through investments, research and development activities, product launches, expansions, and partnerships, and forecasting the market size based on these developments and other critical parameters
- Carrying out multiple discussions with key opinion leaders to understand the technologies used in smart homes, and products wherein they are deployed, and analyze the break-up of the scope of work carried out by key manufacturers of smart homes providers
- Verifying and crosschecking estimates at every level through discussions with key opinion leaders, such as CXOs, directors, and operations managers, and finally with domain experts at MarketsandMarkets
Market Size Estimation Methodology-Bottom-Up Approach
Data Triangulation
After arriving at the overall market size-using the market size estimation processes explained above-the market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides.
The main objectives of this study are as follows:
- To define, describe, segment, and forecast the smart home market, in terms of volume & value, based on Sales Channel, Products, Software and Services, and Region.
- To forecast the size of the market and its segments with respect to four main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW), along with their key countries
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
- To provide detailed information regarding the key factors influencing market growth, such as drivers, restraints, opportunities, and challenges
- To provide a detailed smart home market analysis of the smart home value chain
- To analyze the opportunities in the market for stakeholders and provide a detailed competitive landscape of the market leaders
- To strategically profile the key players and comprehensively analyze their market ranking and core competencies2
- To analyze key growth strategies such as expansions, contracts, joint ventures, acquisitions, product launches and developments, and research and development activities undertaken by players operating in the smart home market.
Market Definition
A smart home is incorporated with advanced automation systems that enable inhabitants to monitor and control the functions of the house. Smart home systems enable owners to control lights; heating, ventilation, and air conditioning (HVAC); security alarms; and other household devices remotely through their smartphones, tablets, or computers. Smart homes are equipped with wired and wireless communication technologies such as Wi-Fi, Bluetooth, universal powerline bus (UPB), INSTEON, Z-Wave, and Zigbee to offer intelligent insights and details to homeowners by continuously monitoring various aspects of the homes. As part of the Internet of Things (IoT), smart home systems and devices often operate together, sharing consumer usage data and automating actions based on homeowners’ preferences. According to Smart Home Energy, an association in the UK, smart homes use home automation technologies to provide homeowners with intelligent feedback and information by monitoring many aspects of a home. For example, a smart home’s refrigerator may be able to catalog its contents, suggest menus, recommend healthy alternatives, and order replacements as food is used up.
Key Stakeholders
- Raw Material and Manufacturing Equipment Suppliers
- Automation and Control Vendors
- Automation and Control Networking Technology Vendors
- Real Estate Builders
- System Integrators
- Homeowners
- Project Consultants
- Designers/Consultants (HVAC, Security, and Fire and Safety)
- Component Manufacturers (Sensors and Controls)
- Home Management System (Products and Servers) Providers
- Smart Home-related Associations, Organizations, Forums, and Alliances
- Government Bodies Associated with Green Buildings
Report Objectives
- To define, describe, and forecast the smart home market size, by software & service, product, sales channel, and region, in terms of value
- To forecast the smart home market size for lighting control products, video surveillance cameras, biometric readers, smart thermostats, smart speakers, home healthcare products, smart kitchen appliances, and home appliances in terms of volume
- To define and describe the technologies and protocols used in smart homes
- To forecast the market size, in terms of value, for various segments with respect to four main regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW)
- To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
- To identify the drivers, restraints, opportunities, and challenges impacting the growth of the market and submarkets
- To analyze the smart home supply chain and identify opportunities for the supply chain participants
- To provide key technology trends and patent analysis related to the smart home market
- To provide information regarding trade data related to the smart home market
- To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the smart home ecosystem
- To strategically profile the key players in the smart home market and comprehensively analyze their market shares and core competencies in each segment
- To benchmark the market players using the proprietary company evaluation matrix framework, which analyzes the market players on various parameters within the broad categories of market ranking/share and product portfolio
- To analyze competitive developments such as product launches, alliances and partnerships, joint ventures, and mergers and acquisitions in the smart home market
Available Customizations:
MarketsandMarkets offers the following customizations for this market report:
- Further breakdown of the market in different regions to the country-level
- Detailed smart home market analysis and profiling of additional market players (up to 5)
Generating Response ...
Growth opportunities and latent adjacency in Smart Home Market
Need to understand about market share analysis.
On this report - is it possible to get a market forecast and other commentary on the Middle East region?
What is the market size of the Middle-East smart home market?
Will Google and Amazon or any other big player enter the market for central controlling device of the smart home, are players like alarm.com on their way out?
I would like to get an overview of the heating/cooling, security, connected care and remote diagnostics of the smart home market.
Looking specifically at Security & Access Control, HVAC, Entertainment in US markets and growth trends technology diffusion, learning curves and competition, and IP analysis.
Hi, I'd like to learn more about the smart home market, including its market size and growth trend, details of different product categories and strong players in this domain. I would appreciate a lot if you can provide me a sample of this report.
Does this report provide data on any new industries that consumers have indicated an interest in for smart home technologies, such as lawn and garden or outdoor living/spaces?
I am looking at a few different markets and I am hoping for at least the following questions: I am looking for the following items in order from most important to least important. 1: Forecast 3-5 years through 2025 (Units and Revenue) broken down by country: US, Canada, France, Belgium, UK, Netherlands (all of Europe) 2: 2019 actuals by competitor share 3: Historical (2017, 2018).
Dear Sir, we're on the process of working on smart home market now. Can we get market research report example from your side.
I would like to obtain projections for the investments in the smart homes market in Europe and possible projections of human resources involved in the smart homes field (graphics with these information's if possible).
Hi, we are particularly interested in smart lock market size and penetration rate of different countries, do you got any report suitable for this?
I am extremely fascinated by the idea of smart homes as it is a way forward for the construction & designing industry. I am planning to setup a venture in this space, and for that I wish to do a thorough and detailed research about its market share, customer requirements and future prospects.
Hi, I am interested to know about the reform in our industry. Especially the development of new innovations that can help provide additional value to customers.
In case of market analysis, we would like to understand this market before launching our SaaS solution.
I'd like to know the market segmentation and in particular anything about the smart homes in the bathroom.
I am an MBA student and as part of my final project I am researching the smart home and smart home security industry. I came across this report in my search and think it would be beneficial to my research. I cannot afford to pay for this report, but would appreciate a sample PDF or a full copy.
I am interested to know about this market. This is purely for individual curiosity, not a business interest at this time.
Looking to understand viability of installation and customization services company for the smart home market in greater LA. Is there demand for these services today?
Looking to understand viability of installation and customization services for smart home market in North America. What is the current demand for these services?
I'm thinking of setting up a smart home products company and I needed some data to understand consumers. Would be great if you could share a sample that's more geared towards consumer personals / profiles.
Dear Team Members, I would like to find out, if you could sell us the report for the UK market only. If so, what would be the price?
Need information on Smart Home Market by Product especially for Air Quality surveillance including Temperature, Humidity and air pollutants like PM2.5, VOCs, Ozone etc.
Writing my thesis on voice interaction in the smart home and would like to get a free sample of the report if possible.
I will be looking at:* UK Specific Smart home market data only* The ability to look at lock penetration by market segment* The ability to understand lock type sold in volumes* To understand ideally, who is selling these locks* To understand/confirm the route to market for these.This will allow me to propose market opportunities for our existing solutions and proposals for those we need to develop further.
Our team is evaluating investment opportunities in the space and is analyzing whether this is a market thematic to pay attention to. Kindly clarify about your report scope.
Interest in smart thermostat and home surveillance markets. Particularly NEST products and competitor products
Looking for quality market data on smart home space, as well as additional specifics around the smart lighting sub-category.
I want to write a paper on which company is the most important firm in Home IoT, with its key local suppliers or intermediaries information. I also require a brief initial description of the kind of governance structure that characterizes home IoT industry.
I wish to use the information presented in the article for research on the smart home market as part of a bachelor's project.
Our company is building an IoT platform, and smart home is the most important part of IoT project. So we want to download this article and learn more about marketing information.
Hello, could you pls send me the pdf brochure of Global forecast of Smart home market in the next 3-5years?
Specifically interested in a deep dive of the home appliance segment, with a further deep dive of the smart components used within each category. Services are also an area of interest, as there is potential for revenue models based on this.
Need to identify addressable market, related to numbers of connected appliances and know about estimates for software market size.
I'm starting a smart home construction business and looking for information on the smart homes market segmentation in South Africa.
I am a tech industry journalist. I would like the whole report if possible to extract a few items from.
Interested in smart home market for internet service providers in 2016-2022. Need to know market trends for applications for safety &security and entertainment.
I am currently reviewing an investment opportunity for major corporations in this sector. Need general market trends.
I'm conducting consult study for a government agency and writing report for construction road map. So I need global market forecast about Smart Home.
I am a student studying MBA and I am interested in this report which can help me in my project assignment. It would be grateful if you could provide the report free of cost for my project.
My company will launch the new product line, smart home products and we want to extend oversea market and need to understand about the market.
I am interested to get samples of: Smart Home Market by Lighting Control (Timer, Daylight Sensor, Occupancy Sensor) - Security & Access Control - HVAC - Entertainment - Home Healthcare - Smart Kitchen.
Just looking for projected market size to calculate building industry growth for a school assignment.
We are a startup in Smart Homes and would love to understand the market a little better - we don't have the scale to afford the full report but start with the sample and then hopefully as we scale and can afford the full report in some time.
We need to understand about the research methodology used by MarketsandMarkets for market size calculation?
I am interest in product analysis and global forecast, especially for the market in America and Canada.
Market penetration of smart homes potential for Turkey region.
I'm looking for data about smart refrigerators (or household products) and how many people use them now and plan to use in the future. I'm preparing press release about Korean company which cooperates with my Client and this data will be helpful to make my article more interesting.
To The Team of Markets and Markets. What we are looking for the facts & figures that will tell us how many smart homes are built in India and what is the percentage of that compared to the total number of homes built in the country (a region-specific report would be very useful). The report should also include general trends and other related statistics, the key market players, and also the possible impact of the home automation phenomenon on builders, system integrators and other middle players/ channel partners. Please let us know if such report is available and what is the price of the same.
Our product line engage with smart home automation devices, all parts and functionality therein; and we are interested in the following sections: 1. Who are the prime distributor of smart home systems in Dubai, Europe, and emerging cities in Russia 2. Who are the major integrators, building supplier/contractors for residential buildings, hotels, and or business centers in Dubai, Europe.
Dear MarketsandMarkets Team, I am a student and in one subject we have to generate business model for a start-up idea for active assisted living. Thus, we also have to come up with a market analysis and I think that the reports could be used as a reliable source because of your expertise. Since I am a student, I cannot buy all the reports I would like to have, therefore I only can ask you if you would be so kind to offer me this report.
Hi, I am very interested in learning more about Smart Home report or anything that you may have that's specific to the North America market. We are looking to learn more about the industry and would like to discuss what your report entails.
Dear Markets and Markets Team, for my dissertation in Marketing Management in Turin (Italy), I need some information and statistic data about trend of Smart Home Market.
Need to know about market scenario for commercial/residential security systems CCTV (commercial/residential) systems, access control (commercial/residential systems), and fire (commercial) systems.
We would like to know which are smart gateway major players and overall units shipped.
I'm looking to get a better understanding of the your smart home market definition, as well as an understanding of for which segment the key growth is expected over the next few years. We're trying to ascertain the relevance of standalone product sales vs. bundled subscriptions, and which will more greatly influence projected growth.
We are interested in smart home control and engineering automation systems.
We are interested in intelligent buildings management system.
Client is looking for some clarification on market numbers and trends.
I am interested in how the Smart Home Market and market scenario of Europe region.
Need market analysis of smart home products in China. Who are the main players, what is the size of the market.
Need to understand about the market scope and coverage.
I belong to the group that makes an international study on request of government agencies. The aim of the study is to investigate how new smart technology solutions and innovations as well as the ongoing process of digitalization of services could support and facilitate independent and safe living at home for older people. It is also essential to consider the international context and cooperation. The research consortium will interview expert in companies and research institutions/universities and make e-mail surveys in order to collect the necessary date for study. This involves several countries (Denmark, the Netherlands, USA and Japan) and will be carried out between June 2020 and December 2020.
Need to know about market growth rate, key global service providers for the smart home market, and key smart home device manufacturers.
Hi greetings! I have seen that you have analyzed Schneider Electric. Is there a possibility to just get total information about them, instead of this report ?. Waiting for your response.
Hi, I am looking at a subset of this report. My only interest and focus is on Smart Thermostats and nothing else. What would be the cost for sub section of this report that only includes information on smart thermostats?
For personal knowledge I would like to understand the current size of the smart home market and its predicted future growth.
I would like to buy smart home market sample report. Can u send me via e-mail? This is for study of market insight in general.
Dear Team Members, we are group of three students of eMBA program and we are making a master project on Smart Home Renovation Solutions. Your market report may be useful in our work. Would it be possible to buy it with any discount?
I'm writing a story about practical home gadgets, like fitness gadget MIRROR, smart fridges, robotic lawnmowers, etc. I'd love to chat with an expert about industry trends.
We need to know more about the Smart Home. We need to get information on market for smart kitchen and home appliances.
I want some parts of this report for a school study. In fact, I study in an engineering school and I have to do a project of enterprise creation in home automation.
Need details on Smart Home Market by Product (Lighting Control (Timer, Daylight Sensor, Occupancy Sensor), Security & Access Control, HVAC, Entertainment, Home Healthcare and Smart Kitchen), Software & Service (Behavioral, Proactive), and Geography - Global Forecast to 2022
Focusing on investment and M&A opportunities in the Smart Home, Connected Home, Home Automation and IoT (residential/home) space. Looking at research sources to support investment strategies.
I am interested in understanding the overall market my company is in and make recommendations if needed.
Hello, I am a first year master's degree student. Please could you send me the sample of the marketing study case by email (I'm very interested in the "Smart Kitchen").
Good Evening, I am a Master's student, writing my dissertation about an evaluation of the smart home market. I was wondering if I could get free access to this report to include it in my academic research.
This is a new industry for me, so I wonder if I can obtain more information about it. I appreciate it if you could send me a copy.
The robot that we offer is also incorporated with Alexa speaking interaction. Need to know how smart home devices will help us to understand our go to market strategies.
I am currently writing a thesis about Smart Homes and it would be very valuable to get the insights from this study.
I'm interested in topline numbers for the development of the smart home market across Europe for an article I'm writing. What is the current European position in terms of smart homes devices shipped in 2018 and where those to numbers will go by 2025.
We are analyzing an opportunity in the smart home space and would like to better understand the breakdown of the smart home marketing by category.
Interested to know about market size for energy management devices for consumer consumption?
We are hoping to understand who are the major companies in each of the product categories, preferably with sales figures.
Need information on Smart home Lighting control Smart Kitchen, Security, Access Control Software & Service .
Need information on smart home IoT barriers. Education and benefit value proposition are real barriers to market penetration.
Need to know about upcoming market trends and their effects.
Need to know about market scenario for connected lighting - lighting's role and place in a smart home, consumer insights, expectations, and demand.