A new Report by Delvens, titled “Smart Home Market” offers a comprehensive analysis of the industry, which comprises insights on the Global analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market, te Smart Home Market size was estimated at USD 96.16 billion in 2023 and is projected to reach USD 342.37 billion in 2030 at a CAGR of 19.89% during the forecast period to 2030.
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Recent Developments
utilizing compressed sensing, Panasonic Holdings Corporation has created very sensitive hyperspectral imaging technology. This innovation makes it possible to recognize minute color changes, improving picture analysis and recognition precision while keeping the functionality of traditional color cameras.
Apple, a major player in technology, announced its entry into the market for smart home applications. Apple is creating a smart display for the house with a magnetic wall attachment that can be used to control the lights and temperature. It will reportedly feature have FaceTime capability.
The Prominent Players in the Smart Home market are:
- ABB Ltd
- ASSA ABLOY
- Axis Communications AB
- Cisco Systems Inc.
- Control4 Corporation
- Emerson Electric Co.
- General Electric Company
- Google Inc.
- Schneider Electric SE
- Siemens AG
- Smarthome Inc.
- United Technologies Corporation and More
Key Findings: Smart Home Market
- Based on product, the market is segmented into lighting control, security & access controls, entertainment devices, hvac, smart kitchen appliances, home appliances, smart furniture, home healthcare, other devices. Security & Access control dominated the market in this segment. The requirement to grant allowed access to safes or rooms containing priceless things and the rising need for intelligent security systems are both cited as reasons for this increase.
- Based on protocol, the market is segmented into wireless, wired, hybrid. The wireless protocol dominated the market in this segment. This impressive rise is owed to the capabilities and services provided by protocols like ZigBee, Wi-Fi, Bluetooth, Z Wave, and others, such as mobile connection, communication regardless of location, and more.
- Based on application, the market is segmented into new construction, retrofit. New construction dominated the market in this segment. This is mostly caused by how convenient and simple it is to install smart home technology at active building sites.
- The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period. The industry has grown recently due to factors such evolving lifestyles, growing reliance on smart gadgets, and increased security concerns.
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