Smart Home Market

Smart Home Market 2019- 2025
Smart Home Market - Global Opportunity Analysis and Industry Forecast
Report 2025 by Meticulous research
Meticulous Research®– leading global market research company published a research
report titled Smart Home Market by Product (Smart Speakers, Smart Lighting, and
Smart Home Security), Standards & Protocols (Bluetooth, Wi-Fi, and ZigBee), and
Geography – Global Forecast to 2025.
According to this latest publication from Meticulous Research®, the global smart
home market is expected to grow at a CAGR of 16.5% from 2019 to reach $144.0 billion
by 2025. Substantial growth in the global smart home market is mainly attributed to
the growing significance of internet and Internet of Things (IoT) and evolution of the
new breeds of smart devices. Growing sense of safety & security and the need for
consistent monitoring has urged consumers to incorporate smart security &
monitoring devices into their homes. Furthermore, the need for more practical and
energy-efficient home and kitchen appliances has also encouraged the demand for
smart appliances, thereby, complimenting the growth of the global smart home
market. However, hesitance in acceptance of the latest technology coupled with the
high cost of procurement of smart devices is expected to hinder the growth of the
global smart homes market.
Global smart homes market study presents historical market data in terms of values
(2017 and 2018), estimated current data (2019), and forecasts for 2025- by product
(smart lighting system, smart speakers, HVAC control, security & monitoring, smart
entertainment system, smart home appliances, smart kitchen appliances, smart home
healthcare system, and smart furniture), and protocols & standards (wireless
protocol, wired protocol, and hybrid protocol). The study also evaluates industry
competitors and analyses the market at a regional and country level.
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On the basis of product type, smart security & monitoring systems segment is
estimated to command the largest share of the global smart home market in 2019. The
growth is mainly attributed to the rising concerns associated with domestic theft and
burglary. Smart safety and monitoring systems have proved its metal in reducing the
number of criminal offenses with respect to home break-ins and hence, the system
climbed to the top of the priority list of consumers who are ready to incorporate smart
home concept. However, Smart speakers are expected to grow with the fastest growth
rate in coming years, owing to the growing popularity of smart speakers such as
Google Home and Amazon Echo. Smart speakers are proving their utilities as an
interface between smart devices and consumers and hence are predicted to spearhead
the segment in terms of growth rate.
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Smart Home Market 2019- 2025
On the basis of protocols & standards, wireless protocols and standards accounted for
the largest share of the global smart homes market. Owing to the widespread adoption
of wireless protocols such as Wi-Fi, Bluetooth, and ZigBee, among others helped
wireless protocols & standards to dominate the market segment. Besides declining
cost of wireless technology, introduction of 5G connectivity is also contributing to the
overall growth of wireless protocols.
On the basis of geography, the overall smart home market is segmented into North
America, Europe, Asia Pacific, Latin America, and Middle East & Africa with further
country level analysis in each region. With respect to revenue, North America is by
far the most commanding market and expected to maintain its dominance
throughout the forecast period. The market growth in North America is majorly
attributed to higher acceptance level of new technology by consumers and
availability of variety of smart devices. However, Asia Pacific is offering some
serious challenge to the dominance of North America in the global smart home
market. Rising enthusiasm of consumers for smart devices, presence of young
consumer groups, and growing disposable income has opened new doors of
opportunity for smart home players in Asia pacific region.
Table of Contents:
1. Introduction
1.1. Market Definition
1.2. Market Ecosystem
1.3. Currency and Limitations
1.3.1. Currency
1.3.2. Limitations
1.4. Key Stakeholders
2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
3. Executive Summary
4. Market Insights
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers Rising Sense of Home Safety and Security Consistent Proliferation of Internet of Things (IoT) Need for Attaining Better Energy Efficiency
4.2.2. Restraints Consumer Hesitance in Technology Acceptance High Cost of Procurement
4.2.3. Opportunities
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Smart Home Market 2019- 2025
The major players operating in the global smart home market are Google LLC (U.S.),
Amazon (U.S.), Samsung (South Korea), Apple, Inc. (U.S.)., Siemens AG (German),
United Technologies Corporation (U.S.), Honeywell International Inc. (U.S.), Johnson
Controls International plc (U.S.), Schneider Electric SE (France), LG Electronics Inc.
(South Korea), Robert Bosch GmbH (Germany), ABB Ltd. (Switzerland), ASSA
ABLOY (Sweden), General Electric Company (U.S.), Legrand S.A. (France), and Sony
Corporation (Japan), among others.
Key questions answered in the report:
Which are the high growth market segments in terms of product, protocols
& standards, and countries?
What was the historical market for smart home devices across the globe?
What are the market forecasts and estimates for the period 2019-2025?
What are the major drivers, restraints, opportunities, and challenges in the
global smart home market?
Who are the major players in the global smart home market?
How the competitive landscape in the global smart home market?
What are the recent developments in the global smart home market?
What are the different strategies adopted by the major players in the global
smart home market?
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