The global smart home market size is projected to reach USD 622.59 billion by 2026, thereby exhibiting a CAGR of 29.3% during the forecast period. Fortune Business Insights™ published this information in a recent study, titled, “Smart Home Market Size, Share & Industry Analysis, By Product (Home Monitoring/Security, Smart Lighting, Entertainment, Smart Appliances, and Others (Thermostat, etc.)), and Regional Forecast, 2019-2026.”
The report further mentions that the market was valued at USD 79.90 billion in 2018. It is likely to gain momentum from the rising mergers and acquisitions between prominent companies for developing novel solutions for residences.
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Highlights of the Report
Extensive analysis of the competitive landscape, such as mergers, acquisitions, contracts, agreements, strategic collaborations, and innovative product launches.
In-depth information about the smart home market trends, growth drivers, barriers, opportunities, and challenges.
List of all the segments present in the market.
Quantify Technology Joins Hands with Harvey Norman and 3PG
December 2019: Quantify Technology, a pioneer of Truly Intelligent Buildings (TIB) and the Internet of Things (IoT), based in Western Australia, announced that it has signed an agreement with Harvey Norman Commercial Division, and 3 Property Group (3PG). The agreement will ensure that all the future 3PG projects must possess Quantify’s smart home solutions for the next three years. These innovative solutions will be available in the market under the name of ‘3Q Home Automation.’ The agreement is worth $170,000 and is vital for Quantify as it would help the company in entering the flourishing market in the ACT. The solutions will be provided in total of 53 townhouses across Sage and Soho and Balcombe Terraces projects.
Fortune Business Insights™ profiles some of the renowned companies operating in the smart home market. They are as follows:
Centrica Connected Home Limited
Emerson Electric Co.
General Electric Company
Johnson Controls, Inc.
Schneider Electric SE
Other key market players
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Increasing Adoption of Smart Devices for Energy Management to Boost Growth
Numerous countries, such as South Korea, China, Canada, India, Brazil, and Germany, are utilizing green building policies. This initiative would aid in creating immense opportunities for the market during the forecast period. It is also expected to promote the adoption of energy management smart devices, namely, smart plugs, smart meters, and thermostats. The governments of various countries across the world are putting forward many projects and taking initiatives to develop green buildings for sustainable living. Besides, technological advancements in data communication and the rising number of smart city projects are likely to drive smart home market growth in the coming years.
Market Segmentation –
1. By Product
Smart Door locks
Others (Storage Devices, Servers, Doorbells, etc.)
Others (Smart Remote etc.)
Smart Air Conditioners
Others (Smart Vacuum Cleaners, Washing Machines etc.)
Others (Thermostat, etc.)
2. By Region
North America (U.S. and Canada)
Europe (U.K., Germany, France, Spain, and Rest of Europe)
Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)
Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
Latin America (Brazil, Mexico, and Rest of Latin America)
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Detailed Table of Content –
1.1.Definition, By Segment
3.1.Drivers, Restraints, and Opportunities
4.1.Macro and Micro Economic Indicators
4.2.Consolidated SWOT Analysis of Key Players
4.3.Porters Five Forces Analysis
5.Global Smart Home Market Analysis, Insights and Forecast, 2015-2026
5.1.Key Findings / Summary
5.2.Market Size Estimates and Forecasts
5.2.1.By Product (Value)
18.104.22.168.2.Smart Door locks
22.214.171.124.3.Others (Storage Devices, Servers, Doorbells, etc.)
126.96.36.199.5.Others (Smart Remote etc.)
188.8.131.52.2.Smart Air Conditioners
184.108.40.206.3.Others (Smart Vacuum Cleaners, Washing Machines etc.)
220.127.116.11.Others (Thermostat, etc.)
5.2.2.By Region (Value)
18.104.22.168.Middle East & Africa
6.North America Smart Homes Market Analysis, Insights and Forecast, 2015-2026
6.1.Key Findings / Summary
6.1.1.By Product (Value)
22.214.171.124.2.Smart Door locks
126.96.36.199.3.Others (Storage Devices, Servers, Doorbells, etc.)
188.8.131.52.5.Others (Smart Remote etc.)
184.108.40.206.2.Smart Air Conditioners
220.127.116.11.3.Others (Smart Vacuum Cleaners, Washing Machines etc.)
18.104.22.168.Others (Thermostat, etc.)
6.1.2.By Country (Value)
7.Europe Smart Homes Market Analysis, Insights and Forecast, 2015-2026
7.1.Key Findings / Summary
7.1.1.By Product (Value)
22.214.171.124.2.Smart Door locks
126.96.36.199.3.Others (Storage Devices, Servers, Doorbells, etc.)
188.8.131.52.5.Others (Smart Remote etc.)
184.108.40.206.2.Smart Air Conditioners
220.127.116.11.3.Others (Smart Vacuum Cleaners, Washing Machines etc.)
18.104.22.168.Others (Thermostat, etc.)
7.1.2.By Country (Value)
22.214.171.124.Rest of Europe
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