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Global Smart Homes Market to be Worth US$97.61 Billion; Driven by Energy Efficiency Trend and IoT Bandwagon - TMR

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News provided by

Transparency Market Research

19 Jun, 2018, 09:30 GMT

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ALBANY, New York, June 19, 2018 /PRNewswire/ --

The common trend across various industries is energy efficiency, which can be attributed to the limited resources of power generation that humanity has managed to develop as opposed to the radical infrastructural development for increasing populations. The concept of smart homes tags along the similar lines of energy efficiency, but moves beyond too, formulating ease of living applications such as lighting controls, security, and entertainment. According to a recent business intelligence report by Transparency Market Research (TMR), the demand in the global smart homes market will multiply at a striking CAGR of 14.6% during the forecast period of 2017 to 2025. Revenue-wise, the market for smart home tools and services are estimated to generate opportunities worth US$97.61 billion by the end of 2025, mounting substantially from its evaluated worth of US$30.02 billion as of 2016.

     (Logo: https://mma.prnewswire.com/media/664869/Transparency_Market_Research_Logo.jpg )

The analyst of the TMR report has notified of a moderately competitive vendor landscape, which can be attributed to a handful of players connected to the value chain. That being said, the number of participants is expected to radically rise in the near future owing to the sheer profitability of the domain. To maintain their slender position of strength, well-established players such as Honeywell International, Inc., Johnson Controls, Inc., Schneider Electric SE, ABB Ltd, and Siemens AG are expected to consistently improve their product portfolio as well as indulge into strategic mergers and acquisitions. Additionally, prominent companies are also focusing on devising customized solutions to different segments of end users.

Request a PDF brochure for Research Insights at https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=163      

Launching of new product models by key players in the market can be seen as a prevalent trend across regions 

Based on application, the market for smart homes has been segmented into entertainment control, heating, ventilation, and air conditioning (HVAC) controls, security and access control, and lighting controls. Among these, the HVAC segment continues to provide for the most prominent chunk of demand, which can be attributed to significant energy reliance of these controls. Geographically, the developed countries of the U.S., France, and Germany are expected to maintain North America and Europe as the regions with maximum potential.

Get a PDF Sample for Industry Insights https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=163    

The increasing possibilities with the Internet of Things (IoT) is proving to be a boon for the smart homes market. With the prices of sensors and processors dropping, the automation of homes to save energy is turning into a liking for the urban populations. Across emerging economies, disposable income has increased among urban populations and their new emphasis is on using controls that bring ease of living. With smart home tools, security can also be enhanced multiple folds, and hence the growing uptake. On the other hand, cost of these tools and services and the constant need for maintenance are some of the restraint factors that are curtailing the profitability of the smart homes market.

Download Report TOC at https://www.transparencymarketresearch.com/report-toc/163

Key Takeaways: 

  • Global smart homes market is estimated to be worth US$97.61 billion by 2025
  • Although only a handful of companies are currently holding the major shares in the smart homes market, a number of newer players are foreseen to make a foray and intensify the competition in the near future.
  • Emerging economies in Asia Pacific, such as China, India, and Japan, are expected to generate substantial new demands towards the end of the forecast period, and the players are suggested to expand geographically to gain greater demands.

Browse Research Release at https://www.transparencymarketresearch.com/pressrelease/smart-homes-market.htm

The information presented in this review is based on a Transparency Market Research report, titled, "Smart Homes Market (Application - Lighting Control, Security and Access Control, HVAC Control, and Entertainment Control) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025."

Key Segments of the Global Smart Homes Market 

By Application 

  • Lighting Control
  • Security and Access Control
  • HVAC Control
  • Entertainment Control
  • Others

By Region and Country 

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia Pacific
    • Middle East and Africa
  • South Africa
    • U.A.E.
    • Rest of MEA
  • Latin America
    • Brazil
    • Rest of Latin America

Popular Reports by TMR: 

  • Smart Airport Market: https://www.transparencymarketresearch.com/smart-airports.html    
  • Smart Irrigation Market: https://www.transparencymarketresearch.com/smart-irrigation-market.html

About Us 

Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com

Website: http://www.transparencymarketresearch.com

Research Blog: http://www.techyounme.com/

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