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Global smart home technology market
Global smart home technology market
DUBLIN, Jan. 24, 2024 (Globe Newswire) — The “Smart Home Technology: Global Market” report has been added to ResearchAndMarkets.com's offering.
The global smart home technology market is witnessing significant growth due to the increasing demand for universal solutions. Industry players are focused on pushing solutions into the mainstream market, leading to rapid developments in network technology. Both proprietary and open source platforms are constantly evolving, and consumers are faced with the challenge of integrating these complex platforms into a single home technology system.
The global smart home technology market, previously considered an elite market, is gaining popularity across a wide range of social segments. The development of wireless, open, and standard technologies has made this transition possible. This reduced wiring and labor costs, lowering the overall price. Moreover, the presence of many players creates price competitiveness and forces companies to develop mainstream solutions. The entry of telecommunications, cable companies, utilities, and security service providers into the smart home technology market is helping to drive demand. Intense competition has intensified among players pursuing technological innovation, alliances, and mergers and acquisitions as strategies to expand and maintain market share.
This report is based on an in-depth analysis of the global smart home technology market by network technology, component, application, and geography. An overview of global market trends is also included. The overview takes 2022 as the base year and provides the forecast from 2023 to 2028 as well as the forecast of his CAGR within the forecast period.
The scope of the report includes a discussion of technological, regulatory, and competitive factors as well as economic trends impacting the market. Additionally, the report analyzes and discusses the key drivers and regional dynamics of the market as well as current trends within the industry. Finally, we present detailed profiles of key vendors in the global smart home technology market.
The report includes:
51 data tables and 50 additional tables
Global market overview for smart home technology
Detailed analysis of global market trends featuring historical revenue data for 2022, estimated numbers for 2023, and forecasts for 2024 and 2026. This analysis includes compound annual growth rate (CAGR) projections through 2028.
Assessment of current market size and revenue growth prospects specific to smart home technology, with market share analysis by network technology, component, application, and geographic region.
Discussion about the future of smart homes, and explanations of smart home technology trends and regulatory standards.
Covering emerging technologies, recent developments, future opportunities, relevant patents, and ESG trends in smart homes.
Market share analysis of key players in the industry, coverage of mergers and acquisitions, joint ventures, collaborations, partnerships, and other market strategies
Company profiles of major industry players such as Johnson Controls International PLC, Honeywell International Inc., Schneider Electric SE, Siemens, and Assa Abloy AB
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Key attributes:
report attributes
detail
number of pages
216
Forecast period
2023-2028
Estimated market value in 2023 (USD)
$102.3 billion
Projected market value to 2028 (USD)
$166.7 billion
compound annual growth rate
10.3%
Target area
global
Main topics covered:
Chapter 1; Prologue
Chapter 2 Overview and Highlights
Chapter 3 Market Overview
Evolution of smart home
The future of smart home technology
Seamless integration and interoperability
Enhanced personalization and customization
Integrating Augmented Reality (AR) and Virtual Reality (VR)
Sustainable and energy efficient solutions
Strengthening security and privacy measures
Integrated health and wellness monitoring
regulatory standards
Safety and compliance regulations
Data privacy and security regulations
Interoperability standards and protocols
Environmental sustainability regulations
Accessibility and inclusion regulations
value chain analysis
manufacturing industry
distribution
Porter's Five Forces Analysis
Competition within the industry
Impact of the COVID-19 pandemic on the market
Impact of the Russia-Ukraine war on the market
Chapter 4 Market Trends
market drivers
Acceptance of smart home technology grows
Enhanced mobile phone network and internet connectivity
Increasing influence of early adopters as trendsetters
Increasing demand for convenience and accessibility within the home
Increasing focus on enhanced energy management strategies and practices
market constraints
market opportunity
Improving user experience with voice control technology
Government initiatives to help promote green buildings
Growing developments and new application areas
technological progress
market threats
Chapter 5 Emerging Technologies and Developments
Current market trends
Safety and security
AI and ML integration
The rise of voice control and virtual assistant technology
Smart home technology for energy management
Potential demand for compact systems
Urgent demand for universal solutions
New technology
Chapter 6 Market breakdown by network technology
Chapter 7 Market Breakdown by Solution
Chapter 8 Market Breakdown by Application
Chapter 9 Regional Market Breakdown
Chapter 10 Environmental, Social and Governance (ESG) Perspectives
Chapter 11 Patent Analysis
Chapter 12 M&A and financing outlook
Chapter 13 Competitive Environment
Chapter 14 Company Profile
ABB
acuity brand
Advantech Co., Ltd.
Amazon.com Inc.
Apple.
Assa Abloy Abloy
Clipsal Electric Pty Ltd. (Schneider Electric Se)
Control4 Corp. (Snap One Llc)
Crestron Electronics Co., Ltd.
Cytech Technology Pte. Co., Ltd.
Centrica
general electric
Google Inc. (Alphabet Inc.)
Honeywell International Co., Ltd.
IBM Co., Ltd.
Ingersoll Rand
Johnson Controls International Plc
Legrand SA
Lutron Electronics Co., Ltd.
indicate possession
Savant Systems Co., Ltd.
schneider electric company
siemens
Synapse Wireless Co., Ltd.
Teletask Bvba
Bibi knit
For more information about this report, please visit https://www.researchandmarkets.com/r/crz0h9.
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