Submit Press Release GroupWeb News Network Africa Alabama Alaska Arizona Arkansas Asia California China Colorada Connecticut Washington DC Delaware Florida France Georgia Germany Ghana Hawaii Idaho Illinois India Indiana Iowa Italy Japan Kansas Kentucky Korea Lousiana Main MaryLand Massachusetts Michigan Minnesota Mississippi Misouri Motana Nebraska Nevad New Hampshire New Jersey New Mexico New York Nigeria North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island Rhode Island Russia South Africa South Carolina South Dakota Spain Tennessee Texas UK Utah Vermont Virginia Washington Weather West Virginia Wisconsin

Home | Search Global IT News: IT News & Press Release Distribution: Research delivers insight into Smart Home Market worth $151.4 billion by 2024 (EMAILWIRE.COM, June 25, 2019 ) A smart home is a home that incorporates advanced automation systems to provide the inhabitants with sophisticated monitoring and control over the building's functions. For example, it is capable of controlling lights, heating, ventilation, and air-conditioning (HVAC); security alarms; and other household devices remotely by a smartphone, tablet, or computer. Smart homes use 'home automation' technologies to provide home owners with 'intelligent' feedback and information by monitoring many aspects of a home. The overall smart home market is expected to grow from USD 76.6 billion in 2018 to USD 151.4 billion by 2024, at a CAGR of 12.02%. The growth of the smart home market is driven by several factors, such as a large base of internet users and rapid adoption of smart devices; increased public awareness about fitness and healthy lifestyles owing to the highly disposable income in developing countries; high importance of home monitoring from remote locations; rise in the need for energy saving and low carbon emission solutions; cost reduction measures enabled by smart homes; rapid proliferation of smartphones and smart gadgets; existence of various market players focusing on expanding their smart home product portfolios; and widespread concern about safety, security, and convenience. Don’t miss out on business opportunities in smart home market. Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=121 The entertainment and other controls segment is likely to account for the largest market share, followed by lighting control, in 2018. Entertainment has become an important part of life as it provides relaxation and rejuvenation. A multi-room entertainment control system allows the user to centralize all connected devices and then listen to, watch, and control that equipment from every room in the house simultaneously or independently. Major control systems used in smart homes are audio, volume, and multimedia room controls. The growth of the market for audio, volume, and multimedia room controls is driven by the convenience offered by these controls for managing as well as controlling the entertainment systems within a house. Advancements in wireless communication technologies is a major factor in boosting the growth of the market for home theater system controls, thereby driving the overall smart home market for entertainment controls.. The large market share of this segment can be attributed to the high penetration rate of products such as smart meters and smoke detectors. The increasing cost of electricity is a major concern that drives household consumers toward energy savings. Moreover, the increasing popularity of smart plugs, smart hubs, and smart locks is also fueling the adoption of control systems. The growth of the market for lighting control solutions can be attributed to their capability of reducing electricity consumption in homes as sensors deployed in these solutions adjust the intensity of artificial light according to the intensity of natural light. One of the largest electrical loads in a home is that of lighting. However, lighting appliances and devices consume lesser energy that of the other electric appliances in a home, which often leads to the negligence of its energy-saving potential. Over the years, the growing environmental concerns have helped spread awareness regarding the importance of smart homes and home energy management measures. Major lighting control products include relays, occupancy sensors, daylight sensors, timers, dimmers, switches, and accessories. A large number of smart home systems are installed in homes in the US, Canada, the UK, and Germany. Browse and in-depth TOC on "smart home market" 100 - Tables 65 - Figures 255 - Pages View more detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/smart-homes-and-assisted-living-advanced-technologie-and-global-market-121.html Among other smart home products, the market for smart speakers is likely to grow at the highest rate from 2018 to 2024. The growth of the market for smart speakers is primarily driven by the increased adoption of smart homes, high disposable income, the popular trend of personalization, and the rapid proliferation of multifunctional devices. Factors such as increasing focus of companies on enhancing customer experience and consumer preference for technologically advanced products over traditional products are expected to provide opportunities to smart speaker providers. The smart home market in APAC is expected to grow at the highest rate, among all regions, from 2018 to 2023. The demand for smart homes in APAC is significantly driven by strong economic growth, increased population, improved standard of living, and rapid urbanization leading to a sophisticated infrastructure. China is likely to account for the largest size of the smart home market in APAC in 2018. However, with the growth of the smart home industry and large-scale implementation of hardware and software solutions in smart home systems in China and Japan, the market in these countries is expected to grow at a higher rate than the market in South Korea (which was leading in 2016) during the forecast period. APAC is considered as a huge market for smart homes because of the considerable rate of implementation of various products, such as lighting controls and HVAC controls, in smart homes in the region. Request for Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=121 Key players such as Johnson Controls, Inc. (US) and Siemens AG (Germany) are also focusing on strategic partnerships, collaborations, and product launches to grow in the APAC market. They are also attempting to increase their sales and operations in countries such as China and India. Moreover, these players are concentrating on enhancing their product portfolio by actively engaging with customers to design and offer innovative products according to their requirements. All these efforts would help players sustain in the market in the near future. Browse Adjacent Markets @ Semiconductor and Electronics Market Research Reports & Consulting About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com Visit MarketsandMarkets Blog@ http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets Website: http://www.marketsandmarkets.com/ MarketsandMarkets™ Mr. Shelly Singh 1-888-600-6441 raviraj.tak@marketsandmarkets.com Source: EmailWire.com

Information Technology Resources Application Software Bioinformatics Computers Computer Games Enterprise Software Graphics/Printing/CAD Hardware/Peripheral industrial Computers Information Internet Multimedia Networking Public Sector Robotics Semiconductor Software Telecommunications Webmaster Information Technology (IT) Advertisement Information Technology Sponsors Information Technology Publications We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Information Technology resource center today to browse our selection of 600+ complimentary Information Technology magazines, white papers, webinars, podcasts, and more. Get popular titles including: The Integration Journey—a Field Guide to Enterprise Integration for SOA Government Technology\'s Public CIO Protecting Content During Business Disruption: Are You Covered? No credit cards, coupons, or promo codes required. Try it today!