Smart Homes, Buildings (Energy Efficient, Automated) Market By Application (Energy management, Lighting control, HVAC, Safety and Security, Home healthcare and child safety), By Technology (Bluetooth, Zigbee, RFID, Wi-Fi), By End Use (Residential, Commercial, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030
The global smart homes, buildings (energy efficient, automated) market was valued at $32.0 billion in 2020, and is projected to reach $78.2 billion by 2030, growing at a CAGR of 9.4% from 2021 to 2030. Smart home is a home in which appliances such as lighting, climate, and entertainment systems are monitored remotely. It may also include home security such as access control and alarm systems. In addition, it provides innovative, energy-efficient, and future-oriented automation solutions. Moreover, any device in homes that use electricity can be put on home network with an individual command. The command can access by voice, remote control, tablet, or smartphone. Furthermore, increase in importance to counter security issues is anticipated to fuel demand for smart and connected homes during the forecast period. Moreover, innovative wireless technologies, including security and access regulators, entertainment controls, and HVAC controllers are expected to foster the market growth. Furthermore, smart home devices are connected with each other and can be accessed through one central point—a smartphone, tablet, laptop, or game console. Door locks, televisions, thermostats, home monitors, cameras, lights, and even appliances such as refrigerator can be controlled through one home automation system.
Energy efficiency has become the need of the hour as the global energy cost is increasing, owing to ever-growing demand and environmental concerns of greenhouse gas (GHG) emission. The construction business is embracing the energy efficiency trend and using building automation system to meet the growing demand for energy efficiency in smart homes and buildings. However, there are some factors such as high upfront cost and lack of standards and interoperability which are expected to act as restraints for the market growth.
The global smart homes, buildings (energy efficient, automated) market is segmented on the basis of application, technology, end use, and region. By application, it is classified as energy management, lighting control, HVAC, safety & security, home healthcare, and child safety. By technology, it is categorized into Bluetooth, Zigbee, RFID, and Wi-Fi. By end use, it is categorized into residential, commercial, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in this report include Cisco Systems, Inc., Control4 Corporation, Leviton MFG. Company Inc., Schneider Electric SA, Siemens Building Technologies, United Technologies Corporation, Honeywell Scanning & Mobility, Smarthome, Inc., Emerson Electric Co., and LG Electronics Inc.
IMPACT OF COVID-19 ON THE GLOBAL SMART HOMES, BUILDINGS (ENERGY EFFICIENT, AUTOMATED) MARKET
The COVID-19 pandemic has had a significant impact on the construction sector. COVID-19 outbreak have severely disrupted the economy, with devastating effects on global trade and it has simultaneously affected households, businesses, financial institution, industrial establishments, and infrastructure companies. The economic crisis caused by the virus has hit many organizations around the world. Similarly, construction and engineering projects around the world have been jeopardized in various ways by the COVID-19 pandemic and many projects have been closed. As a result, there has been a financial recession in the construction industry in almost all countries and has created unemployment. This situation has caused great concern, uncertainty, and unrest in the construction industry. In addition, the smart homes & buildings sector is a segregated part of construction, however, negative impact on construction shows negative result on smart homes, buildings (energy efficient, automated) market.
Sales of smart homes, buildings (energy efficient, automated) gadgets is directly proportional to the sales of electronic gadgets. Disrupted import & export activities led to decline in production of such gadgets, which, in turn, led to decline in growth of the smart homes, buildings (energy efficient, automated) market.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the smart homes, buildings (energy efficient, automated) market analysis from 2020 to 2030 to identify the prevailing smart homes, buildings (energy efficient, automated) market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the smart homes, buildings (energy efficient, automated) market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global smart homes, buildings (energy efficient, automated) market growth, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
HVAC
Safety and Security
Home healthcare and child safety
Energy management
Lighting control
By Technology
Bluetooth
Zigbee
RFID
Wi-Fi
By End Use
Residential
Commercial
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Cisco Systems, Inc.
Control4 Corporation
Leviton MFG. Company Inc.
Schneider Electric SA
Siemens Building Technologies
United Technologies Corporation
Honeywell Scanning & Mobility
Smarthome, Inc.
Emerson Electric Co.
LG Electronics Inc
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