Smart Shade Device Market: Introduction
- Smart shade device is viewed as a smart move in the age of smart homes. Smart shades are used to make life easier with the help of IoT (Internet of Things). A wide range of products are available in the market to suit different home settings and the convenience of end-users. App-controlled systems and smartphone features enable better connectivity. App-controlled connectivity offers advantages over traditionally used motorized blinds. Preference for smart shade devices is influenced by the technology and cost of the product.
Key Drivers of the Global Smart Shade Device Market
- The global market for smart shade devices is driven by the rising urbanization and increasing investment in infrastructure development. People are willing to spend more on smart devices and technology with the growing per capita income.
- The smart homes trend is gaining popularity across developing economies. Moreover, many construction companies are developing premium smart home projects to target the high income population.
- In developed countries, product adoption rate of smart shade devices is high due to high per capita income and the availability of infrastructure for implementing smart technologies in homes. Moreover, significant consumer awareness about the products available in the market is expected to drive the future growth of the smart shade device market in developed regions.
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Opportunities in the Global Smart Shade Device Market
- eSIM (embedded SIM) and IoT (Internet of Things) are generating huge opportunities. Laptops, utilities, televisions, phones, security sensors, fitness wristbands, appliances, and more are integrated into an easy-to-control and entirely interconnected environment.
- Major companies such as Amazon, Google, Apple, and Samsung are investing in the development of innovative solutions, thus confirming their commitment toward the growth of the smart home space.
The Impact of COVID-19 on the Smart Shade Device Market
- Although the industry has witnessed significant disruption due to the COVID-19 pandemic, several opportunities are expected in the post-pandemic world. Reduced face-to-face interactions and the need for social distancing has increased technology awareness among consumers for home automation. Moreover, industrialists and business leaders are expected to invest in IoT enabled infrastructure for their businesses.
North America identified as the Dominant Smart Shade Device Market
- By geography, the global smart shade device market is classified into South America (SA), North America (NA), Europe (EU), Middle East & Africa (MEA), and Asia Pacific (APAC).
- Country-level bifurcation of the North America market includes the forecast and analysis for the U.S., Canada, and Rest of North America. Country-level analysis and forecast for the Europe market includes historical and forecast analysis for the smart shade device market in the U.K., Germany, France, and Rest of Europe. Country-level analysis and forecast for the Asia Pacific market includes major countries in the region such as India, China, Japan, and Rest of Asia Pacific. Middle East & Africa country-level analysis and forecast for the smart shade device market includes GCC countries, South Africa, and Rest of Middle East & Africa. The South America smart shade device market is categorized into Brazil, and Rest of South America.
- North America is witnessing strong research and development activities in the smart shade device market. Introduction of new installation techniques is the key business strategy of companies in the region. Further, market growth is driven by high consumer awareness and willingness to spend on smart home solutions.
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Key Players Operating in the Global Market
Introduction of new technology and continuous upgrade of existing product lines are the key strategies adopted by companies. Moreover, companies are ensuring better consumer knowledge and after sales services to promote the adoption rate of smart shade devices. Technical proficiency and better distribution networks are expected to offer competitive advantage to key companies. Partnership and collaboration with international distributors allows companies to market and sell their products in overseas markets.
Some of the major companies identified in the global smart shade device market are:
- Pella Corp.
- Vertilux Corp. Pty Ltd.
- Crestron Electronics Inc.
- Hunter Douglas NV
- Loxone Electronics GmBH
- Coulisse BV
- Skyco Shading Systems Inc.
- Springs Window Fashions LLC
- The Denver Shade Co.
- Somfy SA
Global Smart Shade Device Market: Research Scope
Global Smart Shade Device Market, by Technology
Global Smart Shade Device Market, by End-use
- Hotels and Restaurants
- Corporate Offices
- Others (Educational Institutes, Resorts, etc.)
Global Smart Shade Device Market, by Distribution Channel
- E-commerce Websites
- Company Owned Websites
- Large Format Stores
- Specialty Stores
The report on the global smart shade device market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.