The global Smart Home Hardware Market size is expected to reach USD 180.85 billion by 2030, expanding at a 14.3% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. With the proliferation of smartphones and other mobile devices, homeowners are looking for ways to control their homes remotely and conveniently. Smart home devices provide them with remote access to various home appliances and systems, including lighting, security, temperature control, and entertainment. Another smart home hardware growth driver is the increasing awareness of energy conservation and the need for sustainable living. Smart home devices are designed to be energy-efficient and environmentally friendly, making them attractive to consumers concerned about reducing their maintenance costs, and subsequently, carbon footprint.
Smart
appliances such as refrigerators and dishwashers are equipped with
features such as Wi-Fi and mobile connectivity, artificial intelligence
integration, touchscreen controls, attached cameras inside to scan food types
for refrigeration purposes, and more. Additionally, the robust mobile
penetration rate and connectivity options such as mobile data or
Wi-Fi increase the demand for the segment.
For
instance, in May 2022, Samsung Electronics Ltd launched its smart washing
machine with artificial intelligence, mobile application connectivity, and
support. Besides, in August 2022, Samsung Electronics Ltd. launched its smart
refrigerators with an inbuilt Bixby assistant in India. The refrigerators
recognize voice commands and offer personalized information. Additionally, it
is convenient for customers to monitor the refrigerator remotely via mobile and
in-built use camera to digitally label food products with expiry dates.
The
COVID-19 pandemic has also contributed to the growth of the smart home industry
as more people are spending time at home and looking for ways to make their
homes more comfortable and convenient. With the rise of remote work and the
need for more connected devices, the demand for smart home hardware is
anticipated to grow in the forecast period. Additionally, as people spend more
time at home, there has been an increased demand for smart home devices that
make life easier, more convenient, and safer.
For
instance, the Indian Government’s Smart Cities mission, which aims to transform
urban areas into technologically advanced and sustainable cities, also drives
the growth of India's smart home hardware market. This initiative has increased
homeowners' adoption of smart home devices as they seek to create more
efficient and eco-friendly homes.
List of Key Players in the Smart Home Hardware Market
- Google LLC
- Amazon.Com Inc.
- Honeywell Corporation Inc.
- Schneider Electric SE
- Johnson Control Inc.
- ABB Ltd.
- Legrand
- Panasonic Corporation
- Samsung Electronics Co. Ltd.
- General Electric Company
Related Press
Release@ Smart Home Hardware Market Report
Smart Home Hardware Market Report Highlights
- The smart
appliances segment led the market in 2022, accounting for over 36% of the
global revenue due to the increasing development of IoT technology. The
IoT, driven by certain influential technological developments, is on its
way to becoming the next technological wave
- The smart
kitchen appliances sub-segment of smart appliances segment led the
market in 2022, accounting for over 50% share of the global lighting
controls revenue. Several factors are driving the growth of smart kitchen
appliances, including advances in electronics, sensor technology, wireless
technology, LED adoption, and smart street lighting
- The HVAC
sub-segment of the smart appliances segment is predicted to foresee
significant growth in the forecast years. The HVAC market continues to
grow due to constructional growth in developing and developed regions
- The North
America region held the largest revenue share of over 38% in 2022. The
growing demand for low-carbon-emission-oriented and energy-saving
solutions propels the smart home hardware industry in the region
Smart Home Hardware Market Segmentation
Grand
View Research has segmented the global smart home hardware market based on
type, and region:
Smart Home Hardware Type Outlook (Revenue, USD
Million, 2017 - 2030)
- Control
& Connectivity Devices
- Lighting
Controls
- Smart
Lights
- Relays
& Switches
- Occupancy
Sensors
- Dimmers
- Other
Products
- Entertainment
Devices
- Security
& Surveillance Equipment
- Security
Cameras
- Video Door
Phones
- Smart
Locks
- Others
- Smart
Appliances
- HVAC
- Smart
Thermostats
- Sensors
- Smart
Vents
- Others
- Smart
Kitchen Appliances
- Smart
Refrigerators
- Smart
Dishwasher
- Smart
Cookware & Cooktop
- Smart
Oven
Smart Home Hardware Regional Outlook (Revenue, USD
Million, 2017 - 2030)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- Japan
- India
- Central
& South America
- Brazil
- Argentina
- Middle East
and Africa (MEA)
- Saudi
Arabia
- South
Africa
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment