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The $151+ Billion Smart Home Market by Product, Software & Services, and Region - Global Forecast to 2024 - ResearchAndMarkets.com

January 23, 2019

DUBLIN--(BUSINESS WIRE)--Jan 23, 2019--The “Smart Home Market by Product (Lighting Control, Security & Access Control, HVAC, Entertainment, Smart Speaker, Home Healthcare, Smart Kitchen, Home Appliances, and Smart Furniture), Software & Services, and Region - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.

The overall smart home market is expected to grow from USD 76.6 billion in 2018 to USD 151.4 billion by 2024, at a CAGR of 12.02%.

Market Dynamics

Drivers

Growing Number of Internet Users and Increasing Adoption of Smart Devices Increasing Awareness About Fitness and Rise in Disposable Incomes in Developing Economies Increasing Importance of Home Monitoring in Remote Locations Rising Need for Energy-Saving and Low Carbon Emission-Oriented Solutions Cost Reduction Measures Enabled By Smart Homes Rapid Proliferation of Smartphones and Smart Gadgets Large Number of Manufacturers Expanding Their Smart Home Product Portfolios Growing Concern About Safety, Security, and Convenience Among People

Restraints

More Convenience-Driven Market Rather Than Being Necessity-Driven Market High Cost of Switching for Existing Smart Device Consumers Issues Related to Breach in Security and Privacy

Opportunities

Favorable Government Regulations to Promote Green Buildings Expected Incorporation of Lighting Controllers With In-Built Data-Connectivity Technology Integration of Power Line Communication Technology in Smart Homes

Challenges

Linking Disparate Systems, Limited Functionality, and Lack of Open Standards Risks of Device Malfunctioning

Select Market Highlights

Entertainment and other control systems are likely to hold the largest share of the smart home market in 2018 Behavioral type software and services are expected to account for the largest market share in 2018

Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Protocols and Technologies Used in Smart Homes

7 Smart Home Market, By Product

8 Geographic Analysis

9 Smart Home Market for Software & Services

10 Competitive Landscape

11 Company Profiles

ABB ADT Amazon Apple Armorax Assa Abloy Axis Communication Buildingiq Cacoon Comcast Corporation Control4 Crestron Electronics Delta Controls Distech Controls General Electric Google Hitachi Honeywell International Hubbell Ingersoll-Rand Johnson Controls International LG Electronics Legrand Lennox International Lutron Electronics Nest Secure Robert Bosch Samsung Electronics Schneider Electric Scout Siemens Simplisafe Sony United Technologies Corporation Vivint

For more information about this report visit https://www.researchandmarkets.com/research/pf5j9q/the_151_billion?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20190123005353/en/

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Related Topics:Software,Internet of Things and M2M

KEYWORD:

INDUSTRY KEYWORD: BUILDING SYSTEMS CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: Research and Markets

Copyright Business Wire 2019.

PUB: 01/23/2019 05:55 AM/DISC: 01/23/2019 05:55 AM

http://www.businesswire.com/news/home/20190123005353/en

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