IMARC Group, a leading market research company, has recently released a report titled “Smart Homes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global smart homes market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

What Are The Growth Prospects Of The Smart Homes Industry?

According to the report, The global smart homes market size reached US$ 107.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 363.5 Billion by 2028, exhibiting a growth rate (CAGR) of 20.9% during 2023-2028.

What is Smart Homes?

Smart homes refer to a home setup wherein appliances and devices can be controlled remotely with an internet connection and a mobile or networked device. They comprise various devices, such as door locks, televisions (TVs), lights, cameras, refrigerators, air conditioners (ACs), ovens, fans, and home monitors. They rely on wireless and hardwired systems for enabling individuals to control various functions, such as temperature, lighting, home theater, and security access of the home. As they are cost-effective, environment-friendly and energy-efficient; offer convenience and real-time alerts; and reduce carbon emissions, the demand for smart homes is increasing worldwide.

Request Free Sample Report: https://www.imarcgroup.com/smart-homes-market/requestsample

What are the growth prospects and trends in the Smart Homes industry?

At present, the rising demand for smartphone-connected smart homes due to accessible internet facilities represents one of the key factors contributing to the market growth around the world. Besides this, the growing demand for smart homes, as they offer convenience, safety, security, and better user experience, is offering a positive market outlook. Apart from this, the increasing digital assistance integrated with artificial intelligence (AI) provide users with a hands-free and user-friendly experience, which is positively influencing the market. Moreover, the integration of 5G technology in smart homes to make reliable connections is bolstering the growth of the market. Furthermore, the increasing demand for low-carbon emission and energy-efficient solutions in the residential sector, along with inflating income levels of individuals, is strengthening the growth of the market across the globe.

Smart Homes Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• ABB Ltd
• Amazon.com Inc
• Emerson Electric Co
• Honeywell International Inc
• LG Electronics Inc
• Lutron Electronics Co. Inc
• Microsoft Corporation
• Robert Bosch GmbH
• Schneider Electric SE

The report has segmented the market on the basis on region, platform, tools, deployment model, enterprise size, end user.

Breakup by Component:

• Hardware
  • Security
  • Home Automation
  • Home Entertainment
  • Home Healthcare
• Smart Appliances
• AI Speaker
• Services
  • Energy Consumption and Management Services
  • Security Services
  • Healthcare Services
  • Entertainment Services

Breakup by Application:

• Security and Surveillance
• Lighting
• Entertainment
• Energy Management
• HVAC
• Smart Kitchen
• Home Fitness and Wellness

Breakup by Region:

• North America:( United States, Canada)
• Asia-Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Ask Analyst for Free Sample Report: https://www.imarcgroup.com/request?type=reportid=6354flag=C

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US

IMARC Group

Email: [email protected]

USA: +1-631-791-1145 | Asia: +91-120-433-0800

Address: 134 N 4th St. Brooklyn, NY 11249, USA 

Follow us on Twitter: @imarcglobal