NEW YORK, Oct. 20, 2021 /PRNewswire/ — Zion Market Research has published a new research report titled “Smart Home Market – By Product (Smart Kitchen, Security & Access Control, Lighting Control, Home Healthcare, HVAC Control, And Others): Global Industry Perspective, Comprehensive Analysis And Forecast, 2020-2026”. According to the report, the smart home market size is expected to reach USD 137.9 billion by 2026 from USD 85.6 billion in 2021, at a CAGR of 10.4% during the forecast period.
Increasing Awareness amongst Users Regarding Energy Consumption to Boost the Smart Home Market
As per analysts at Zion Market Research, the major growth booster for the smart home market comprises increasing awareness amongst users about energy consumption, rising disposable income in developing nations, growing the aging population, and government programs among others. Apart from this, increasing demand for home healthcare is powering the development of the smart home market. On the other hand, long device replacement cycles and high costs parried with restricted user demand are top challenges curbing the smart home market from shifting to the mass adoption stage from the early-adopter stage.
Nonetheless, new product launches by the market players are increasing the rivalry thereby boosting the development of the smart home market. For example, in August 2018, Philips Hue declared a number of new smart lights driving the development of the global smart home market.
Get Sample PDF of this Research Report for more Insights with Table of Content, Research Methodology and Graphs – https://www.zionmarketresearch.com/sample/smart-home-market
Light Control Segment to Boost Smart Home Market in the Forecast Period
Segmentation of smart home market is carried out based on region and product. The products segments in the smart home market are the home healthcare, smart kitchen, HVAC control, lighting control, and others. Light control grabbed the biggest share in the smart home market owing to lowered electricity usage in homes. Lighting sensors regulate the intensity of artificial light as per the natural light intensity, therefore lowering the power usage and boosting smart home market.
Reduced Carbon Emissions to Drive Smart Home Market in North America
North America grabbed the biggest share of the smart home market owing to increase in population and rise in the demand of home health care. Europe is one more leading smart home market as it chases North America. Government initiatives in North America comprise remotely controlling power meters, gas, and water to go with ease into the smart grid. Energy & cost saving, aging population, convenience, security, government initiatives, and reduced carbon emissions are the major boosters that are driving the smart home market development in the years to come. Asia Pacific is also planned to show noteworthy development in the smart home market in years to come.
Request for Customization on this Report as per your requirements – https://www.zionmarketresearch.com/custom/788
The prominent companies in the smart home market are Siemens AG, Legrand, Ingersoll-Rand plc, Johnson Controls Inc., Acuity Brands, Inc., Schneider Electric SE, United Technologies Corporation, ABB Ltd., Nest Labs, Inc., Samsung Electronics Co., Ltd., Crestron Electronics, and Honeywell International Inc. among others. These players are claimed to augment the global smart home market.
The global smart home market is segmented as follows:
By Product
- Smart Kitchen
- Security & Access Control
- Lighting Control
- Home Healthcare
- HVAC Control
- Others
By Software
- Behavior
- Proactive
Inquire before Purchase of this Research Report – https://www.zionmarketresearch.com/inquiry/smart-home-market
By Region
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- 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 & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Browse Other Related Research Reports from Zion Market Research
- Smart Home Healthcare Market – https://www.zionmarketresearch.com/report/smart-home-healthcare-market
- Smart Home Security Market – https://www.zionmarketresearch.com/report/smart-home-security-market
- Smart Home As A Service Market – https://www.zionmarketresearch.com/report/smart-home-service-market
- Smart Home Installation Service Market – https://www.zionmarketresearch.com/report/smart-home-installation-service-market
- Smart Home Devices Market – https://www.zionmarketresearch.com/report/smart-home-devices-market
About Us:
Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Contact Us:
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No +1-855-465-4651
US OFFICE NO +1-386-310-3803
Email: [email protected]
Website: https://www.zionmarketresearch.com
Blog – https://zmrblog.com/
Follow us on LinkedIn – https://www.linkedin.com/company/zion-market-research
All Press Release – https://www.zionmarketresearch.com/all-news
View original content:https://www.prnewswire.com/news-releases/global-smart-home-market-size-is-expected-to-reach-usd-137-9-billion-by-2026–registering-a-cagr-of-10-2-from-2020-2026—zion-market-research-301404737.html
SOURCE Zion Market Research
