Published on : May 29, 2017
Albany, New York, May 29, 2017: The latest advancements in the Internet of Things (IoT) and the introduction of high-speed internet have accelerated the demand for smart home appliances. Automation in the household sector has a promising future ahead, considering this fact, Market Research Hub (MRH) has recently announced the addition of a new market report to its vast online repository with a title “Smart Homes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”. This report on smart homes market analyzes the current market state as well as its future potential.
The global market for smart homes will grow at a healthy CAGR of 14.6% between 2017 and 2025. At this pace, the market is likely to reach a valuation of US$ 97.61 billion by the end of 2025 from US$ 30.02 billion in 2016. This report on global smart homes market presents a 360-degree view of the industry and its key segments and sub-segments. Market dynamics, such as drivers, restraints, risks and major trends impacting the market’s trajectory have been inspected in detail within the report. The market report on smart homes has been compiled using extensive primary and secondary research to cater to the needs of businesses across the globe.
Apart from the above elements, to make the report organized and easy to comprehend, the global smart homes market is divided into different segments based on application and geographic region. On the basis of application, the smart home market is segmented into HVAC control, security and access control, lighting control, entertainment control and others. Among these segments, the HVAC control segment was the largest market segment in 2016 and it is expected to remain dominant throughout the assessment period. Geographically, the prominent regions studied in the report are North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Among these regions, North America had emerged as the leading geographic region, holding a market share of 38.7% in 2016.
In the final section of the report, a competitive landscape analysis is presented based on relative positioning of the market participants in the global smart homes market. Moreover, the company profiles provide information such as company description (HQ, foundation year and employee strength), market presence (by segment and by geography), SWOT analysis, business and financial strategies and revenue of key players in the smart homes market. Some of the key players profiled in the report include Schneider Electric SE, ABB Ltd., Siemens AG, Johnson Controls Inc., Emerson Electric Company, Honeywell International Inc., Samsung Electronics Co., Ltd., United Technologies Corporation, LG Electronics Inc. and Crestron Electronics, Inc. among others.
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