Smart Home Devices Market Forecasting and Growth Strategies: Adapting to Dynamic Trends

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Integration of smoke detectors with Internet of Things (IoT) and big data is a key factor driving smart home devices market revenue growth

The global smart home devices market size reached USD 84.52 Billion in 2021 and is expected to register a revenue CAGR of 10.4% during the forecast period, according to latest analysis by Emergen Research. The incorporation of lighting controllers with in-built data-connectivity technology is an important factor driving market revenue growth.

The market has been substantially affected by the pandemic, and changes can be seen in the market dynamics and demand trends. Therefore, the report broadly assesses the comprehensive impact of the pandemic on the overall growth of the Smart Home Devices market, besides offering a future COVID-19 impact assessment. Furthermore, the report points out the effective business approaches undertaken by the market players to enhance their product portfolios and prosper considerably.

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Competitive Terrain:

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Smart Home Devices market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

The leading market contenders listed in the report are:

SAMSUNG, LG Electronics, Honeywell International Inc., Koninklijke Philips N.V, Amazon.com, Inc., Robert Bosch GmbH, Apple Inc, Panasonic Holdings Corporation, Sony Corporation

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Emergen Research has segmented the global Smart Home Devices market on the basis of type, application, end-use, and region:

Segments Covered in this report are:

  • Product Outlook (Revenue, USD Billion; 2019–2030)

    • Fire Suppression
    • Lighting Control
      1. Relays
      2. Occupancy Sensors
      3. Daylight Sensors
      4. Timers
      5. Dimmers
      6. Switches
      7. Accessories and Other Products
    • Security and Access Control
      1. Video Surveillance
      2. Hardware
      3. Software/Video Analytics
      4. Price Ranges
    • Access Control
      1. Biometric Access Control
      2. Non-Biometric Access Control
    • HVAC Control
      1. Smart Thermostats
      2. Sensors
      3. Control Valves
      4. Heating & Cooling Coils
      5. Dampers
      6. Actuators
      7. Pumps & Fans
      8. Smart Vents
    • Entertainment and Other Controls
      1. Entertainment Control
      2. Other Controls
    • Smart Speaker
    • Home Healthcare
      1. Health Status Monitors
      2. Physical Activity Monitors
    • Smart Kitchen
      1. Smart Refrigerators 
      2. Smart Coffee Makers
      3. Smart Kettles
      4. Smart Dish Washers
      5. Smart Ovens
      6. Smart Cooktops
      7. Smart Cookers
    • Home Appliances
      1. Smart Washers
      2. Smart Dryers
      3. Smart Water Heaters
      4. Smart Vacuum Cleaners
    • Smart Furniture
      1. Smart Tables
      2. Smart Desks
      3. Smart Stools & Benches
      4. Smart Sofas
      5. Smart Chairs
  • Price Range Outlook (Revenue, USD Billion; 2019–2030)

    • Below USD 25 Smart Home Device
    • USD 25-50 Smart Home Device
    • Above USD 50 Smart Home Device
  • Sales Channel Outlook (Revenue, USD Billion; 2019–2030)

    • Online
    • Offline

The various regions analyzed in the report include:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Objectives of the Report:

  • Analysis and estimation of the Smart Home Devices Market size and share for the projected period of 2022-2030
  • Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
  • Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Smart Home Devices Market
  • Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
  • Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities

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