Global Smart Homes Market Insights by Product, Technology, Development, Growth and Demand Forecast to 2023.

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Presentation transcript:

Global Smart Homes Market Insights by Product, Technology, Development, Growth and Demand Forecast to 2023

Copyright © P&S Market Research Smart Homes Market Global smart homes market is projected to reach $70,208.6 million by 2023, growing at a CAGR above 14% during smart homes market Due to increasing internet penetration globally, and significant growth in automation technologies such as internet of things (IoT), the global smart homes market is gaining huge traction. Furthermore, recent developments in home automation technologies have resulted in drop in prices of sensors and processors, which are contributing to the growth of global smart homes market. Technology manufacturers investing and promoting automation in residential and household sector are also expected to back the global market growth.

Copyright © P&S Market Research Smart Homes Market Geographically, North America has been the largest market for smart homes; whereas, the market is expected to witness the fastest growth in Asia-Pacific, during the forecast period. The anticipated high growth in Asia-Pacific can be attributed to factors such as advancement in home automation technologies, rapid growth in industry digitalization, new technological developments in telecom industry, along with setting up of advanced hardware and software manufacturing units, and increasing adoption of data analytics across industries in the region.

Copyright © P&S Market Research Smart Homes Market The research states that the global smart homes market is moderately competitive, with players investing in advanced research & development of new home automation solutions. Some of the key players operating in the global smart homes market are Honeywell International Inc., Siemens AG, Schneider Electric SE, ABB Limited, Johnson Controls Inc., Samsung Electronics Co. Ltd., United Technology Corporation, and Cisco Systems Inc. Request to Get the Sample market/report-samplehttps:// market/report-sample

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