How big is the global Smart Home Market ?

The global smart home market size was USD 86.48 billion in 2020. The market is expected to grow from USD 99.89 billion in 2021 to USD 380.52 billion in 2028, growing at a CAGR of 21.1% during the 2021-2028 period.

KEY INDUSTRY DEVELOPMENTS:

• January 2021: D-Link Corporation introduced ‘mydlink’ smart home solutions, emphasizing the safety provided to keep loved ones and the home safe throughout the pandemic. For individuals who want to stay at home, it includes features such as mydlink cloud, AI-enabled protection and ensuring increased security and manageability.
• June 2020: Cisco expands its intent-based networking portfolio with additional features to provide clients with improved control, security, and insights. Cisco DNA Center and Cisco DNA Spaces will now offer greater insights regarding IoT endpoints, this improved network insight will allow smarter automation.

 

• Fortune Business Insights says that the market value stood at US $ USD 86.48 billion in 2020

• By 2028, the Video Streaming Market size is expected to reach US $ 380.52 billion

• The market is expected to grow at a CAGR of 21.1% in the forecast period (2022-2029).

• The growth rate of the Global Video Streaming Market is 19.09 %, with an estimated value of US $ 380.52 billion by 2028.

 

Drivers and Restraints

Implementation of Internet of Things Platforms to Impel Market Growth

The Internet of Things (IoT) platform is one of the utmost essential smart home market growth drivers. IoT-equipped appliances assist in offering energy-proficient abilities at residences. Several companies are targeting to develop their IoT platforms and other connected technologies, specifically Artificial Intelligence (AI) and Machine Learning (ML), so that they can be executed in smart home products resourcefully. This is expected to bolster this market’s growth during the forecast period.

Companies Profiled in this Market Report

• ABB Ltd.
• Centrica Connected Home Limited
• Control4 Corporation
• Emerson Electric Co.
• General Electric Company
• Honeywell International
• Johnson Controls, Inc.
• Samsung Group
• Schneider Electric SE
• Sony Corporation

 

Major Points in Table of Content:

• Introduction
• Definition, By Segment
• Research Methodology/Approach
• Data Sources
• Key Takeaways
• Market Dynamics
• Macro and Micro Economic Indicators
• Drivers, Restraints, Opportunities and Trends
• Impact of COVID-19
  • Short-term Impact
  • Long-term Impact
• Competition Landscape
• Business Strategies Adopted by Key Players
• Consolidated SWOT Analysis of Key Players
• Global Smart Home Key Players Market Share Insights and Analysis, 2020
• Key Market Insights and Strategic Recommendations
• Companies Profiled (Covered for key 10 players only)
• Overview
  • Key Management
  • Headquarters etc.
• Offerings/Business Segments
• Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
  • Employee Size
  • Key Financials
    • Past and Current Revenue
    • Geographical Share
    • Business Segment Share
  • Recent Developments
  • Annexure / Appendix
  • Global Smart Home Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
    • By Product (USD)
      • Home Monitoring/Security
        • Security Cameras
        • Smart Door locks
        • Others (Storage Devices, Servers, Doorbells, etc.)
      • Smart Lighting
      • Entertainment
        • Speakers/Sound bars
        • Voice Assistant
        • Smart TV/Projectors/Monitors
        • Wearable
        • Others (Smart Remote etc.)
      • Smart Appliances
        • Smart Refrigerators
        • Smart Air Conditioners
        • Others (Smart Vacuum Cleaners, Washing Machines etc.)
      • Others (Thermostat, etc.)
    • By Region (USD)
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • Latin America

TOC Continued...!

 

How much is the market worth in 2020?

The market worth in 2020 US $ USD 86.48 Billion.

How big is the Asia Pacific Market?

The Market of Asia Pacific value is USD 25.10 Billion.

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