USA: +1 347 690-0211 | UK: +44 2032 894158 | JAPAN: +81 50 5806 9039 | Translate : 

report img

Smart Home Systems Market By Technology (Cellular Network Technologies, Protocols & Standards, Wireless Communication Technologies), By Product (Lighting Control, Security & Access Control, HVAC Control, Media & Entertainment & Others), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026

Covid-19

Global Smart Home Systems Market Size, Share

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

Industry Insights

The latest findings and offers on the smart home's systems market were published by Facts & Factors in a neatly titled “Global Smart Home Systems Market” report. At Facts & Factors, we estimated the global smart home systems market to be valued at USD 83.3 Billion in the year 2020; with growth at a CAGR rate of 10.8% is expected to attain an overall value of USD 140.2 Billion by 2026.

logoGlobal Smart Homes Systems Market: Overview

Smart homes or home automation involves the process of interconnecting a wider range of devices that function with the association of the Internet in order to organize and regulate several home appliances and systems. They are often deemed as an advanced form of technology that is often used for making home appliances extremely effective and energy-saving. Smart home systems offer comfort, security, and convenience to the user.

logoGlobal Smart Homes Systems Market: Growth Factors

The global smart homes systems market is expected to be driven toward a higher market share owing to the rising need for energy-saving demands coupled with the rising adoption of smart devices to name a few. Additionally, factors pertaining to low carbon emission-oriented solutions coupled with rising demand from remote locations in terms of monitoring measures are expected to increase the footprint of the global smart homes systems market during the forecast period. Moreover, increasing disposable income among consumers coupled with the rising urge of people to live in high-end and luxurious homes is expected to boost the global smart homes systems market during the forecast duration.

The global smart homes systems market is expected to be driven by factors pertaining to increased functionality in terms of dimming and closing lights and curtains, automatically lighting up exit routes, regulating security cameras and utility meters to name a few. Additionally, the rising adoption of smartphones and rising connectivity measures are expected to fuel the global smart homes systems market during the forecast period. However, the higher cost of switching to smart device consumers is expected to decrease the market share for the global smart homes systems market during the forecast period.

logoGlobal Smart Homes Systems Market: Segmentation

The global smart homes systems market is segmented into technology, product, and region.

The global smart homes systems market is divided into cellular network technologies, protocols & standards, and wireless communication technologies on the basis of technology. The wireless communication technologies segment is expected to witness the largest and the fastest-growing CAGR during the advent of the forecast owing to a less invasive setup coupled with lower setup costs to name a few. Additionally, increasing convenience measures coupled with the rising adoption of wireless-based communications measures are expected to cement the latter’s position during the advent of the forecast. The global smart homes systems market is divided into lighting control, security and access control, HVAC control, media & entertainment, and others on the basis of product. The security and access control category is expected to witness the largest market share during the advent of the forecast owing to increased adoption of the internet of things (IoT) and the integrated controls for a variety of functions to name a few. Moreover, increased functionality of such solutions in the consumer’s smartphones coupled with system scalability and easy extension measures is expected to cement the segment’s position during the forecast period.

logo Reports Scope

Report Attribute

Details

Market Size in 2020

USD 83.3 Billion

Projected Market Size in 2026

USD 140.2 Billion

CAGR Growth Rate

10.8% CAGR

Base Year

2020

Forecast Years

2021-2026

Key Market Players

ABB Ltd, Control4 Corporation, Crestron Electronics, Inc., Honeywell International, Inc., Ingersoll-Rand plc., Johnson Controls, and Others

Key Segments

Technology, Products, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Purchase Options

Request customized purchase options to meet your research needs. Explore purchase options

logo Regional Analysis

North America is expected to witness the largest market share during the advent of the forecast owing to a well-established manufacturer's overview coupled with an ever-increasing consumer base to name a few. Additionally, the region is home to increased adoption of cellular-based communication coupled with increasing disposable income among consumers is expected to increase the footprint of the smart homes systems market during the forecast period. Asia-Pacific is expected to occupy a substantial market share during the advent of the forecast owing to the region is the home to several macroeconomic stimulus conditions coupled with the rising adoption of innovative technologies. The growing geriatric population coupled with rising investment opportunities is further expected to boost the smart homes systems market during the advent of the forecast.

logo Competitive Players

The key market participants for the global smart homes systems market are ABB Ltd, Control4 Corporation, Crestron Electronics, Inc., Honeywell International, Inc., Ingersoll-Rand plc., Johnson Controls, Legrand SA, Leviton Manufacturing Company, Inc., Lutron Electronics Co., Inc., Schneider Electric, Siemens AG, ADT, Robert Bosch, and Delta Controls, among others.

logo By Technology Segment Analysis

  • Cellular Network Technologies
  • Protocols & Standards
  • Wireless Communication Technologies

logo By Product Segment Analysis

  • Lighting Control
  • Security & Access Control
  • HVAC Control
  • Media & Entertainment
  • Others

logo By Regional Segment Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Covid-19

Smart Home Systems Market

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

logoKey Insights from Primary Research

  • As per our primary respondents, the global smart home systems market is estimated to grow over the forecasted period, recording a CAGR of approximately 13%.
  • From our primary research, we gathered the insights that the rise in the adoption of monitoring systems for light monitoring, HVAC monitoring, security and authentication applications, etc. has been a key factor that has augmented the market across the globe.
  • Our primary interviewees predicted that the the Asia-Pacific region is expected to dominate the global smart home systems market, due to the rising real estate market in developing countries such as India, China, etc. and growing urbanization.
  • Based on system, the home appliances market dominated the global smart home systems market in 2019, recording a market share of approximately 30%. The home appliances market is estimated to grow at a CAGR of nearly 12% till 2026.
  • On the basis of region, India smart home systems market accounted for a share of around 10% in 2019 and is anticipated to record a CAGR of nearly 13% over the forecasted period due to rising demand for security and authentication systems and lightening control systems from consumers.

logoKey Recommendations from Analysts

  • As per our analysts, the global smart home systems market is predicted to reach a market value of nearly USD 220 billion in 2026 from a value of USD 85 billion in 2019.
  • Changing consumer preferences has been a key factor that influenced consumers to take necessary security measure to avoid unauthorized access and reduce threats related to thefts, which has led to an increase in the demand for security surveillance systems.
  • Moreover, with rise in demand for smart home systems, the demand for integration of such products with other smart products is anticipated to create new revenue generating avenues in the global smart home systems market for companies planning to enter the integration services market.
  • Our analysts predict also estimate that Australia smart home systems is expected to reach a market value of approximately USD 9 billion till 2026, recording a CAGR of around 11%.
  • According to our analysts, on the basis of systems, the entertainment and other controls smart home systems market is probable to record the fastest growth among all other segments and is predicted to reach a market value of around USD 30 billion till 2026. Changing lifestyle has influenced consumers to spend more on customized entertainment solutions, which is a growth fueling factor for the entertainment and other controls smart home systems market.

logoThe Global Smart Home Systems Market Share – By System

logoSmart Home Systems Market

Covid-19

Smart Home Systems Market

The pandemic continues to cause unprecedented disruption across industries worldwide.Get detailed insights regarding the impact of COVID-19 on the market. Request Sample

Industry Major Market Players

  • ABB Ltd
  • Control4 Corporation
  • Crestron Electronics Inc.
  • Honeywell International Inc.
  • Ingersoll-Rand plc.
  • Johnson Controls
  • Legrand SA
  • Leviton Manufacturing Company Inc.
  • Lutron Electronics Co.Inc.
  • Schneider Electric
  • Siemens AG
  • ADT
  • Robert Bosch
  • Delta Controls
     

Frequently Asked Questions

The governing factors behind the significant growth of the global smart home systems market attributes to the rising need of energy saving demands coupled with rising adoption of smart devices to name a few.
According to Facts & Factors, global demand for smart home systems market is expected to generate revenue of around USD 140.2 Billion by end of 2026, growing at a CAGR of around 10.8% between 2021 and 2026.
North America is expected to witness the largest market share during the advent of the forecast due to well-established manufacturers overview coupled with an ever increasing consumer base to name a few.
The key participants in the global smart home systems market are ABB Ltd, Control4 Corporation, Crestron Electronics, Inc., Honeywell International, Inc., Ingersoll-Rand plc., Johnson Controls, Legrand SA, Leviton Manufacturing Company, Inc., and Lutron Electronics Co., Inc., among others.
why choose fnf
key questions answers

Related Reports

report img

Automated Storage and Retrieval System (ASRS) Market Report 2022 – 2028

[210+ Pages Report] According to Facts and Factors, the global automated storage and retrieval system (ASRS) market size was worth USD 7,294.50 million in 2021 and is estimated to grow to USD 10,824.87 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.80% over the forec...

Published Date : 01-Sep-2022 | | Category : | Pages : 210 | Format : Read more

Inquiry for Buying Request Sample
report img

Autonomous Robot Market Report 2022 – 2028

[231+ Pages Report] According to Facts and Factors, the global autonomous robot market size was worth USD 6,395.20 million in 2021 and is estimated to grow to USD 13,671.91 million by 2028, with a compound annual growth rate (CAGR) of approximately 13.50% over the forecast period. The report analy...

Published Date : 29-Aug-2022 | | Category : | Pages : 231 | Format : Read more

Inquiry for Buying Request Sample