What is Smart Home as a Service Market?
The smart home is a residence equipped with wireless or hardwired systems that allow homeowners to control appliances, thermostats, lights, and other devices remotely using a smartphone or tablet through an internet connection. The appliances in the smart home come with self-learning skills so they can make adjustments as per the homeowner's schedules. Smart Home as a Service is a service that helps customers to choose, deploy, maintain, upgrade, and program smart home equipment.
The market study is being classified by Type (Integrated Services and Managed Services), by Application (Personal Use and Commercial Use) and major geographies with country level break-up.
Hwisel Soft Inc. (Canada), Intertek (United Kingdom), Hubsai, Inc. (United States), Comcast Corporation (United States), Cognizant (United States), ADT Inc. (United States), Johnson Controls International plc (Ireland), Trane Technologies plc (United States), Protection One, Inc. (United States), FrontPoint Security Solutions, LLC (United States), AT&T Inc. (United States) and Charter Communications, Inc. (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Lumen Technologies (United States) and Vivint Smart Home, Inc. (United States).
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Smart Home as a Service market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Smart Home as a Service market by Type, Application and Region.
On the basis of geography, the market of Smart Home as a Service 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increased Disposable Income of the People
- Rising Demand for Energy Management Solutions
Market Trend
- Increased Penetration of the Internet
Restraints
- High Cost of the Smart Home as a Service
Opportunities
- Growing Demand from End-users
- Increased Adoption of Cloud-based Solutions
Challenges
- Privacy and Security Concerns
In January 2021, Hubsai Inc., a Smart Home Automation company specializing in residential homes, apartments, and multi-family units, announced it is now live with full integration of its smart home platform with Apple Watch 6.
Key Target Audience
Smart Home as a Service Providers, Emerging Companies, Research Professionals and End-users