Smart Homes Market Scope
A house or home prepared with lighting, heating, electronic devices, climate, entertainment systems, alarm system and appliances that can be controlled by remotely on mobile phone or computer. Curb energy, Ecobee 3 smart thermostat, Sonos Wireless Speaker system, Philips Hue Smart Light Bulbs, Amazon Echo, SmartThings System, Belkin WeMo Switch and Lutron Dimmer Light Switches are the smart home devices.
According to AMA, the Global Smart Homes market is expected to see growth rate of 13.26%
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Smart Homes market throughout the predicted period.
Schneider Electric (France), Sony (Japan), Mitsubishi Electric Corporation (Japan), Savant (United States), Cisco Systems Inc. (United States), Google Inc. (United States), Microsoft Corporation (United States), General Electric Company (United States), IBM Corporation (United States), Siemens AG (Germany) and Alarm.com (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are ADT (United States), ABB (Switzerland), Lutron (United States), Leviton (United States) and Honeywell (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Smart Homes market by Type (Smart Lighting, Smart Speakers, Smart Sensors, Smart Appliances, Smart Security Equipment and Others), by Application (Lighting Control, HVAC Control, Security and Access Control, Entertainment Control and Others) and Region with country level break-up.
On the basis of geography, the market of Smart Homes has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 2nd august 2018, Alarm.com (the leading platform for the intelligently connected property) has announced partnership with Aviva. This deal has offered Alarm.com's cloud-based smart home security and automation services to its customers in Ireland.
On 8th February 2018, the leader in digital transformation of energy management and automation Schneider Electric has launched Go Green in the City 2018. Go Green in the City 2018 is the contest for worldwide to know more bold ideas, great solutions for energy efficient cities. and On 29th January 2018, - Mitsubishi Electric Corporation has announced that, it has developed automation platform which enables networked smart appliances to use their sensors and functionalities to cooperate in new home services wi
Market Trend
- Advancement in Electrical and Telecommunication Technology
- Inclination towards Changing Life Style
Market Drivers
- Effective Solution to save Electricity Due to Smart Meters
- Growing Buying Power
Opportunities
- Green Building Promotion by Government
- Use Of Power-Line Communication Technology
Restraints
- High Cost Needed for Smart Homes
Challenges
- Restricted Functionality
- Absence of Open Standards
- Hazards of faulty Devices
Key Target Audience
Smart Home Manufactures/Suppliers/Distributors, Electric Devices Manufactures, Research Organizations, Government and Other Private Research Organizations and Others