Global Smart Home Market: Size, Trends & Forecasts (2020-2024)

February 2020

Global Smart Home Market: Coverage

Executive Summary and Scope

Introduction/Market Overview

Global Market Analysis

Regional Market Analysis

Dynamics

Competitive Landscape

Company Profiling

Global Smart Home Market: Coverage

Attributes Details

Title Global Smart Home Market: Size, Trends & Forecasts (2020-2024)

Coverage Global and Regional

Regional Coverage North America, Europe, Asia Pacific, Middle East & Africa and Latin America

Market Influencing Variables Growth Drivers, Challenges, Market Trends

Forecast Period of Market 2020-2024

Competition in the Market Fragmented

Key Players Amazon.com Inc., Alphabet Inc., ABB Ltd. and Assa Abloy AB

Scope of the Report

Global Smart Home Market

Smart homes are the advanced residential buildings which are installed with technically advanced features like smart television, smartlight, smart appliances, smart security, etc. The technology enables people to control numerous automated home devices by softwarecommands from a remote location, hence enhancing the comfort and security of the house.

The smart home is built by integration of various components such as power management unit, micro controller/micro processor unit,software applications, firmware, smart sensors and many other components. Additionally, the smart home facilitate the user with differentbenefits like hassle free system, cost efficiency, ease of use, safeguard privacy, provide entertainment, etc.

The global smart home market has perceived progressive growth in the past few years and the market is further expected to augment at anescalating growth rate during the forecasted period (2020-2024). The global smart home market growth would be supported by numerousgrowth drivers such as declining smart sensors price, surge in the adoption of internet of things (IoT), accelerating construction activities,increasing number of internet users, growth in consumer spending, surging demand for energy optimization, rising urbanization, etc.

However, the growth of global smart home market would be negatively impacted by various challenges. Some of the foremost challengesfaced by the market are high installation cost and intolerable threats. Whereas, the market growth would be driven by different markettrends like the evolution of cloud technology, rising artificial intelligence technology, growth in smart speaker installations, surgingmachine to machine communication technology, etc.

Executive Summary

Smart Home Market : Global Analysis

Global Smart Home Market by Value

The global smart home market, valued at US$.... billion in 2019, augmented from US$... billion in 2018 at a CAGR of xx%. The global market is expected to raise to US$... billion by 2024 from US$... billion in 2020 at a CAGR of xx%.

CAGRs

2015-2019 xx%

2020-2024 xx%

2015 2016 2017 2018 2019

US

$ B

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2020 2021 2022 2023 2024

US

$ B

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Smart Home Market : Global Analysis

Global Smart Home Market by Volume

The global smart home market, volume was .... million units in 2019, as compared to ... million units in 2018, raised at a CAGR of xx%. The global market is predicted to propel to ... million units by 2024 from ... million units in 2020 at a CAGR of xx%.

2015 2016 2017 2018 2019

Millio

n U

nit

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2020 2021 2022 2023 2024

Millio

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CAGRs

2015-2019 xx%

2020-2024 xx%

Global Smart Home Market by Applications; 2019

Global Smart Home Market by Region; 2019

Applications Share

Smart Products xx%

Security Monitoring xx%

Home Healthcare xx%

Lighting xx%

Energy Conservation xx%

Others xx%

Region Share

North America xx%

Europe xx%

Asia Pacific xx%

Latin America xx%

Middle East & Africa xx%

Smart Home Market : Global Analysis

Global Smart Home Market by Communication Network; 2019

Communication Network Share

Wireless Communication Network xx%

Mobile Communication Network xx%

Smart Home Market : Global Analysis

Global Smart Home Market: Application Analysis

Global Smart Energy Conservation Market by Value Global Smart Lighting Market by Value

Global Smart Security Monitoring Market by Value

2020 2021 2022 2023 2024

US

$ B

illio

n

2020 2021 2022 2023 2024

US

$ B

illio

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2020 2021 2022 2023 2024

US

$ B

illio

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Applications 2020-2024

CAGR

Smart Products xx%

Security Monitoring xx%

Home Healthcare xx%

Lighting xx%

Energy Conservation xx%

Others xx%

Global Smart Home Market: Communication Network Analysis

Global Wireless Communication Market by Value Global Mobile Communication Market by Value

2020 2021 2022 2023 2024

US

$ B

illio

n

2020 2021 2022 2023 2024

US

$ B

illio

n

Communication Network 2020-2024

CAGR

Wireless Communication Network xx%

Mobile Communication Network xx%

Smart Home Market: Regional Analysis

North America Smart Home Market by Value Europe Smart Home Market by Value

Asia Pacific Smart Home Market by Value

2020 2021 2022 2023 2024

US

$ B

illio

n

2020 2021 2022 2023 2024

US

$ B

illio

n

2020 2021 2022 2023 2024

US

$ B

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Region 2020-2024

CAGR

North America xx%

Europe xx%

Asia Pacific xx%

Latin America xx%

Middle East & Africa xx%

Smart Home Market: Dynamics

Growth Driver

•Surge in Adoption of Internet of Things (IoT)

•Declining Smart Sensors Price

Challenges

•High Installation Cost

•Intolerable Threats

Market Trends

•Rising Artificial Intelligence Technology

•Machine to Machine (M2M) Communications

Smart Home Market: Competitive Landscape

• Amazon.com Inc.

• Alphabet Inc.

• ABB Ltd.

• Assa Abloy AB

Players Profiled

Note: The graphs on this slide are only for sample representation.