A connected home is an advance system, which can be accessible from any remote location using mobile devices such as smart phones, tablets and laptops. Within a connected home, multiple devices can be connected through a local area networks or wireless home network to any media centers such as TV, receiver, DVD recorder, media player, gaming consoles, and others. These connected home enable users to monitor and control household activities from remote location through a web interface to access all devices even outside the home.
The major companies profiled in the report include Honeywell International Inc., Siemens AG, Schneider Electric SE, ABB Ltd, Johnson Controls Inc., Emerson Electric Company, Samsung Electronics Co., LG Electronics Inc., United Technologies Corporation, and Crestron Electronics Inc.
COVID_19 Impact Analysis:
The Connected Homes Market has been the worst hit by COVID-19 globally. Based on the government restrictions, and WHO guidelines the companies have stopped their manufacturing processes. The global lockdown has impacted the suppliers and distributors as well to halt their services. This impact hampered the growth of the market to a certain extent.
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The connected homes market gains popularity among various applications such as home automation, lightening, thermostat, and water heaters. The key drivers, which boost the connected home markets are convenience, security, accessibility, efficiency, and durability. In addition, connected homes also help people access their entertainment devices and other household appliances remotely, which not only provides convenience but also increases the overall entertainment. However, lack of privacy and security hamper the market growth. Moreover, increase in demand for automated home creates an opportunity for the market growth.
The global connected home market is segmented on the basis of solution, application, and geography. The solution segment is bifurcated into security & access, lightening & window, audio-visual & entertainment, energy management & climate, and integrated solutions. Based on application, the market is classified into home automation, lightening, consumer appliances, thermostat, and others. Geographically, it is analyzed across North America (U.S., Mexico, and Canada), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Connected Homes Market Key Segmentation:
- Security & Access
- Lightening & Window
- Audio-Visual & Entertainment
- Energy Management & Climate
- Integrated Solutions
- Home Automation
- Consumer Appliances
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KEY OFFERINGS OF THE REPORT:
- Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.
- Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.
- Segmental Analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.
- Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.
- Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenarios and related strategies have been offered in the report.
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