In its latest report on Connected Home Market provides a concise analysis of the recent market trends. The report further includes statistics, market forecasts and revenue estimations, which in addition highlights its status in the competitive domain as well as expansion trends adopted by major industry players.
Connected Home Market is valued at USD 47.52Billion in 2018 and expected to reach USD 115.3 Billion by 2025 with the CAGR of 13.5% over the forecast period.
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Connected homeare the automated luxurious homes with that allowtransforming every space connected with the help of push of a button or single voice command. The connected homes consist of effortlessly increase security, enhance interior design, and help to promote the perfect atmosphere throughout the house. The Connected home are considered as smart home with only difference in the connected home follows single brand name whereas in smart home all other brand devices can also be connected with single software through smartphone. The connected home are used for energy saving, and provide the intelligent living by implementation of the connected ecosystems. The ecosystems can be designed with the help of the Internet of Things devices, artificial intelligence and gadgets with Intelligence that help them to execute different task and take necessary decisions. Connected homes can be operated through the smartphone application to perform the specific tasks like to on/off AC, to close the door, to see the visiting person on the gate and many others. In addition to this the connected home can help to detect the room temperature of home and provides the security for the home owners.
The global connected home market is segmented on the basis product type, distribution channel, region and country level. On the basis of product type, the connected homemarket is classifies as safety & security, wellness & monitoring, energy & utilities management, smart appliances, smart entertainment and others.On the basis of distribution channel, connected home market is bifurcated into online sale, retail sale.
The regions covered in global Connected homemarket report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, Global Connected homemarket sub divided in U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key players for global Connected home market reports –
Global Connected homemarketreports cover prominent players United Technologies Corporation, Johnson Controls, Inc., Legrand S.A., Ericsson AB, Schneider Electric Se, Panasonic, Siemens AG, ABB Ltd., Honeywell International, General Electric Company, and Samsung Electronics and many others.
Panasonic has been launched connected home devices in India
News: Jan 07, 2020-Panasonic has been launched IoT and AI-enabled platform Miraie. This platform can be connected to wide range of air conditioners, smart door bells and switches.The platform has the facility to connect by mobile application through digitally connected IoT platform.
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Global Connected home market dynamics –
The key factor for growth of global connected homemarket is increasing the number of IoT enabled devices with surge in the internet and smartphone users, as well as rise in the demand of energy-saving and low carbon emission solutions for better and comfortable home care. According to the Climate Group Organization in 2020, connected digital devices for smart buildings technologies has been enabled to save around 1.68 GtCO2e of emissions with worth of USD 340.8 billion. In addition to this, growing IoT spending for the smart home is driving the factor for connected home market. According to the FICCI in 2019, the global IoT spending was valued USD 44.1 billion for smart home due to rise in the adoption of IoT connected devices and increased the home automation awareness among the people. However high costs of automation and too much automation can make sedative lifestyle and has adverse health effect are major factors which hamper the connected home market. Moreover technological advancement using IoT, artificial intelligence, automation sensors, and advent of machine learning for connected devices as well as surge in the collaboration, mergers and acquisitions for the development forconnected home products may create huge opportunity to fuel the global connected homemarket during the forecast period.
Connected home Market Regional Analysis –
North America is expected to dominate thegrowthconnected home marketwith the potential rate due to smart homes,rising consumerspending,due to presence of advanced technology followed by Europe.According to the housewares organization in 2020, the estimated smart home market was valued USD 40 billion due to rising consumer adoption of IoT devices, and growing the automation implementation among the American people. In addition to this, home automation has also helped to save building emissions due to implementation of proper automation and building design. According to the Climate Group Organization, the proper home automation could save up to 15% of energy. Hence the demand for the connected home has been increasing astoundingly in North America followed by Europe and Asia Pacific region.
Europe is the second largest growing region for the connected home market due to presence of advanced technology and government support for the IoT enabled devices for smart homes followed by Asia Pacific. For instance in 2015, the UK government has created ‘IoT UK’, a three-year program and funded around USD 39.7 Million for advance the production and adoption of IoT in the private and public sector. In 2018, the UK government has noted more than 40 million connected IoT devices including for home automation and smart buildings.
Asia Pacific is expected to emerge as the fastest-growing regional market due to rapidly increasing consumer spending on IoT device, and growing government initiatives for supporting the connected home products eco-friendly and reducing the carbon emission through home appliances.
Key Benefits for Connected home market reports –
Global Connected homemarket report covers in depth historical and forecast analysis.
Global Connected homeMarket research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Connected homemarket report helps to identify opportunities in market place.
Global Connected homemarket report covers extensive analysis of emerging trends and competitive landscape.
Complete Report Details @ https://industrystatsreport.com/ICT-and-Media/Connected-home-Market-Size/Summary
Connected homeMarket Segmentation –
Connected homeMarket: by ProductType
Safety & security
Wellness & monitoring
Energy & utilities management
Connected home market: by Distribution Channel
Connected home Market: by Regional & Country Analysis (North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa)
Table of Content
1 Study Coverage
1.1 Connected home Product
1.2 Key Market Segments in This Study
1.3 Key Manufacturers Covered
1.4 Market by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered
2 Executive Summary
2.1 Global Connected home Market Size
2.2 Connected home Growth Rate (CAGR) 2020-2025
2.3 Analysis of Competitive Landscape
2.4 Key Trends for Connected home Markets & Products
3 Market Size by Manufacturers
3.1 Connected home Production by Manufacturers
3.2 Connected home Revenue by Manufacturers
3.3 Connected home Price by Manufacturers
3.4 Mergers & Acquisitions, Expansion Plans
4 Connected home Production by Regions
.1 Global Connected home Production by Regions
4.2 North America
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