Published: Jun, 2018

The common trend across various industries is energy efficiency, which can be attributed to the limited resources of power generation that humanity has managed to develop as opposed to the radical infrastructural development for increasing populations. The concept of smart homes tags along the similar lines of energy efficiency, but moves beyond too, formulating ease of living applications such as lighting controls, security, and entertainment. According to a recent business intelligence report by Transparency Market Research (TMR), the demand in the global smart homes market will multiply at a striking CAGR of 14.6% during the forecast period of 2017 to 2025. Revenue-wise, the market for smart home tools and services are estimated to generate opportunities worth US$97.61 billion by the end of 2025, mounting substantially from its evaluated worth of US$30.02 billion as of 2016.

The analyst of the TMR report has notified of a moderately competitive vendor landscape, which can be attributed to a handful of players connected to the value chain. That being said, the number of participants is expected to radically rise in the near future owing to the sheer profitability of the domain. To maintain their slender position of strength, well-established players such as Honeywell International, Inc., Johnson Controls, Inc., Schneider Electric SE, ABB Ltd, and Siemens AG are expected to consistently improve their product portfolio as well as indulge into strategic mergers and acquisitions. Additionally, prominent companies are also focusing on devising customized solutions to different segments of end users.

global smart home market

Based on application, the market for smart homes has been segmented into entertainment control, heating, ventilation, and air conditioning (HVAC) controls, security and access control, and lighting controls. Among these, the HVAC segment continues to provide for the most prominent chunk of demand, which can be attributed to significant energy reliance of these controls. Geographically, the developed countries of the U.S., France, and Germany are expected to maintain North America and Europe as the regions with maximum potential.

The increasing possibilities with the Internet of Things (IoT) is proving to be a boon for the smart homes market. With the prices of sensors and processors dropping, the automation of homes to save energy is turning into a liking for the urban populations. Across emerging economies, disposable income has increased among urban populations and their new emphasis is on using controls that bring ease of living. With smart home tools, security can also be enhanced multiple folds, and hence the growing uptake. On the other hand, cost of these tools and services and the constant need for maintenance are some of the restraint factors that are curtailing the profitability of the smart homes market.

Key Takeaways:

  • Global smart homes market is estimated to be worth US$97.61 billion by 2025
  • Although only a handful of companies are currently holding the major shares in the smart homes market, a number of newer players are foreseen to make a foray and intensify the competition in the near future.
  • Emerging economies in Asia Pacific, such as China, India, and Japan, are expected to generate substantial new demands towards the end of the forecast period, and the players are suggested to expand geographically to gain greater demands.

The information presented in this review is based on a Transparency Market Research report, titled, “Smart Homes Market (Application - Lighting Control, Security and Access Control, HVAC Control, and Entertainment Control) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”

Key Segments of the Global Smart Homes Market

By Application

  • Lighting Control
  • Security and Access Control
  • HVAC Control
  • Entertainment Control
  • Others

By Region and Country

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia Pacific
  • Middle East and Africa
    • South Africa
    • U.A.E.
    • Rest of MEA
  • Latin America
    • Brazil
    • Rest of Latin America

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

US Office Contact

90 State Street, Suite 700

Albany, NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: https://www.transparencymarketresearch.com

.