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Smart Home Devices Market Is Likely To Experience A Tremendous Growth In Near Future

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Smart Home Devices Market Is Likely To Experience A Tremendous Growth In Near Future

September 14
00:58 2022
Smart Home Devices Market Is Likely To Experience A Tremendous Growth In Near Future
Emergen Research | Smart Home Devices Market
Market Size – USD 84.52 Billion in 2021, Market Growth – at a CAGR of 10.4%, Market Trends – Significant investments in research & development activities

The global smart home devices market size reached USD 84.52 Billion in 2021 and is expected to register a revenue CAGR of 10.4% during the forecast period, according to latest analysis by Emergen Research. The incorporation of lighting controllers with in-built data-connectivity technology is an important factor driving market revenue growth. Over the past few years, there has been a significant expansion in the lighting control industry. A sizable range of goods, including timers, daylight sensors, dimmer, and occupancy sensors, are available in this market. These items can be used separately or in conjunction with one another. They are compatible with both wireless network and wired network technologies for home automation integration.

Emergen Research has published a new market research report titled Global Smart Home Devices Market Forecast to 2030 comprising statistical data represented in tables, pie charts, graphs, and figures to aid in easy understanding of the market. The research report provides a comprehensive assessment of the market and provides a futuristic perspective about the market trends, growth factors, facts, and industry validated market data. It provides an in-depth assessment of market size, market share, revenue growth, along with a comprehensive analysis of the competitive landscape with extensive profiling of the key competitors. Rising investments and technological advancements are expected to significantly drive the growth of the market throughout the forecast period.

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Some Key Highlights From the Report

The entertainment and other controls segment accounted for the largest revenue share in 2021. The ease with which these controls make it possible to manage and regulate entertainment systems within a home is what drives the expansion of the video, multimedia, and audio control business. With the help of intelligent entertainment systems, users eliminate the clutter of remote controls in favor of a more sophisticated approach. Additionally, they may simplify their setup so that users can quickly access the music and movies they desire. Even more than this, smart entertainment devices enable a more seamless, natural way for the user to engage, whether by touch, gesture, or speech. Advantages like this are expected to increase revenue growth of the segment.

Below USD 25 smart home device segment accounted for the largest revenue share in 2021. Anyone can increase their home’s intelligence with the most affordable smart home appliances without spending a fortune. There are several reasonably priced devices that can be used to switch on lights, adjust the temperature, play music, and even keep a check on the house while the homeowner is away. For instance, one of the finest inexpensive smart home gadgets and the best smart plug in our opinion is the USD 25 Wemo WiFi Smart Plug. Even when compared to its predecessor, the Wemo Mini, is more compact than alternative solutions. The Wemo WiFi Smart Plug is compatible with all the main smart assistants, despite the fact that it lacks energy monitoring like some other smart plugs.

Online segment accounted for the largest revenue share in 2021 because of the growing population and widespread use of cellphones. Market demand is being driven by technological advancements and the rise of e-Commerce. The rise of e-commerce platforms like Alibaba, Amazon, and eBay, which offer cheaper pricing and deals like Cash-On-Delivery (COD) and simple returns, is driving demand. Many people are drawn to the platform because of the variety of gadgets available. Customers find it handy and simpler to buy things online by comparing prices, types, and brands, which saves them time from having to go to a store driving revenue growth of the segment. 

The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others. It also offers key insights into financial standing, market reach, global position, gross profit margins, and investment and funding initiatives.

Major Players/Manufacturers profiled in the report are:

SAMSUNG, LG Electronics, Honeywell International Inc., Schneider Electric, Koninklijke Philips N.V, Amazon.com, Inc., Robert Bosch GmbH, Apple Inc, Panasonic Holdings Corporation, and Sony Corporation.

To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/smart-home-devices-market

Emergen Research has segmented the global smart home devices market on the basis of product, price range, sales channel, and region:

Product Outlook (Revenue, USD Billion; 2019–2030)

Fire Suppression

Lighting Control

Relays

Occupancy Sensors

Daylight Sensors

Timers

Dimmers

Switches

Accessories and Other Products

Security and Access Control

Video Surveillance

Hardware

Software/Video Analytics

Price Ranges

Access Control

Biometric Access Control

Non-Biometric Access Control

HVAC Control

Smart Thermostats

Sensors

Control Valves

Heating & Cooling Coils

Dampers

Actuators

Pumps & Fans

Smart Vents

Entertainment and Other Controls

Entertainment Control

Other Controls

Smart Speaker

Home Healthcare

Health Status Monitors

Physical Activity Monitors

Smart Kitchen

Smart Refrigerators 

Smart Coffee Makers

Smart Kettles

Smart Dish Washers

Smart Ovens

Smart Cooktops

Smart Cookers

Home Appliances

Smart Washers

Smart Dryers

Smart Water Heaters

Smart Vacuum Cleaners

Smart Furniture

Smart Tables

Smart Desks

Smart Stools & Benches

Smart Sofas

Smart Chairs

Price Range Outlook (Revenue, USD Billion; 2019–2030)

Below USD 25 Smart Home Device

USD 25-50 Smart Home Device

Above USD 50 Smart Home Device

Sales Channel Outlook (Revenue, USD Billion; 2019–2030)

Online

Offline

Regional Analysis:

The report sheds light on the region expected to dominate the Smart Home Devices market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Smart Home Devices market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.

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The report further sheds light on the strength, weaknesses, opportunities, and threats faced by the companies in the global Smart Home Devices market and additionally measures the feasibility and investment return analysis in the report. Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market and covers the initial and future assessment of the COVID-19 impact on the market. The report is a qualitative and quantitative assessment of the global Smart Home Devices market that has been formulated by extensive primary and secondary research with the data further validated from industry experts and professionals.

Key Benefits of the Report:

Comprehensive analysis of the competitive scenario and its changing dynamics

Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis

In-depth 8 year analysis of the Global Smart Home Devices Market

Critical assessment of the key market segments

Comprehensive analysis of the drivers, restraints, trends, and opportunities

Detailed regional analysis and extensive company profiling

Extensive assessment of current and emerging trends of the market

Click here to Buy Now @https://www.emergenresearch.com/select-license/1292

Thank you for reading our report. The report can be customized according to the requirements of the clients. Please get in touch with and our team will ensure the customization is as per your needs.

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Media Contact
Company Name: Emergen Research
Contact Person: Eric Lee
Email: Send Email
Phone: +1 (604) 757-9756
Address:14671 110 Avenue Surrey, British Columbia, V3R2A9
City: Surrey
State: British Columbia
Country: Canada
Website: https://www.emergenresearch.com/industry-report/smart-home-devices-market

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