Global IoT Smart Home Market research Report showing Compound annual growth rate and forecast till 2025
Global IoT Smart Home Market Expected to Reach XX Million by 2025
According to a new report published by Reports Monitor titled, “IoT Smart Home Market Software & Service, and Applications: Global Opportunity Analysis and Industry Forecast, 2018–2025,” the IoT Smart Home Market was valued at XX million in 2017, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
IoT smart home market has witnessed notable growth but still it has long distance to go before it reaches its full potential. Most of the consumers around the world are unaware about IoT smart home concept and don’t understand the value propositions offered by IoT.
Energy efficiency, Comfort and convenience, need of safe and secure homes, are the major drivers for IoT smart home market. IoT technology provides remote monitoring that enables all electrical controls such as AC controls, refrigerators, Smart gadgets, UPS controls and management of appliances and systems. Increased crime rate is boosting the demand for safe and secure home globally. Demand for smart and energy efficient lighting system, and smart phone penetration globally some of the other driving factors for growth of the IoT smart home market.
This report provides a detailed analysis of IoT Smart Home market, which includes current industry situations such as market size, growth and demands, market outlook, major players with their key strategies such as investment, mergers and acquisitions, value chain analysis and porter’s analysis. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth analysis along with important inputs from the various industry experts. The research is carried out with both extensive primary and secondary data sources supported with either bottom up or top down approach.
Global IoT Smart Home market is majorly segmented on the basis of Software and Service (behavioral and proactive), Applications (Lightning Control, Smart Kitchen, Security & Access Control, HVAC Control, Home Appliances, Healthcare, Entertainment and Other Controls).
By geography, Global IoT Smart Home market is studied across North America, Europe, Asia-Pacific, and LAMEA. Increasing awareness and acceptance of IoT technology, existence of key player from this market and more number of tech savvy consumers are some of the factors driving growth of the IoT smart home market in North America.
Key Question Answered:
• What will be the market size in 2025 and at what rate it will grow?
• What trends, barriers, challenges are influencing its growth?
• Who are the major key players in Global IoT Smart Home Market and what are their strategies?
• What segment and region will lead the market and why?
The major companies profiled in the report include: Honeywell International Inc., Siemens AG, Schneider Electric SE, ABB Ltd., Johnson Controls Inc., Emerson Electric Company, Samsung Electronics Co., Ltd., LG Electronics Inc., United Technologies Corporation, Legrand S.A, Acuity Brands, Inc. Lutron Electronics Co. Inc, Leviton Manufacturing Company, Inc. and Crestron Electronics, Inc. among others.
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