Electrical And Electronics Manufacturing

Global Smart Home Devices Market Overview And Prospects

December 2, 2021 by The Business Research Company

Learn about the global smart home devices market through The Business Research Company, which provides information on smart home devices market size, smart home devices market drivers and restraints, smart home devices market players, the COVID-19 impact on the smart home devices market, and more.

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The global smart home devices market is expected to grow from $54.77 billion in 2020 to $60.37 billion in 2021 at a compound annual growth rate (CAGR) of 10.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The smart homes devices market is expected to reach $123.36 billion in 2025 at a CAGR of 19.6%.

The rise in the need to save energy and decrease carbon emission are expected to drive innovation in smart home devices manufacturing, thus driving the market during the forecast period.

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The smart homes devices market consists of sales of smart home appliances and devices. Smart home devices are controlled remotely from any internet-connected place in the world using a mobile or any other network device. Appliances of the smart homes are interconnected in such a manner that the user gets the access to control the functions such as security check to the home, temperature, lighting, and home theatre.

Global smart home devices market segments include:

By Technology: Wi-Fi Technology, Bluetooth Technology

By Application: Energy Management, Climate Control System, Healthcare System, Home Entertainment System, Lighting Control System, Security & Access Control System

By Sales Channel: Online, Offline

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

Companies are developing voice assistants to control smart home devices. Voice assistants are digital assistants that react to voice commands and reply with relevant information. They are different from the traditional keyboard-based searches. They put more focus on the conversational phrasing of any content and prioritize the long tail keywords for any search.

TBRC’s smart home devices market report covers:

Major Market Players: ABB Ltd, General Electric Company, Johnson Controls, Inc., Siemens AG, and Schneider Electric SE.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Smart Home Devices Global Market Report 2021: COVID-19 Growth and Change to 2030 is one of a series of new reports from The Business Research Company that provides smart home devices market overviews, analyzes and forecasts market size, share, smart home devices market players, smart home devices market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s smart home devices market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Here is a list of similar reports from The Business Research Company:

Smart Speakers Global Market Report 2021

Smart TV Global Market Report 2021

Smart Lighting Global Market Report 2021

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