Market HighlightsThe most impactful event in the tech world in recent years has been the COVID-19 outbreak, halting almost every activity worldwide. The pandemic induced lockdown has increased the prevalence of the working from home practice, with industrialists, sales & marketing teams and business leaders continuously exploring new ways to maintain effective communication to produce operational results.
Market Research Future (MRFR) projects the smart home market 2020 to cover considerable grounds at a rate of 14% from 2018 to 2023 (assessment period), despite the COVID-19 impact. We will provide COVID-19 impact analysis with the report, offering detailed market developments following the coronavirus disease outbreak.
Also Read: [FURL]http://www.marketwatch.com/story/smart-home-market-growth-is-driven-by-rising-deployment-of-wireless-technologies-smart-home-market-analysis-growth-forecast-industry-size-share-and-trends-2020-04-29 /[/FURL]
Regional Study
The regional study of the smart home market covers Europe, Asia Pacific/APAC, North America along with RoW or the rest of the world.
North America will continue being the global leader in the smart home market throughout the assessment period, on account of the rising use of IOT-powered lighting solutions in residences and the mounting number of cyber-attacks on smart home appliances leading to higher demand for smart security and access control systems. The market is quite prominent in Canada and the United States, as a result of the increasing need for remote monitoring of children and the ageing population. The high number of leading vendors present here, the augmented sales of home healthcare devices and the sound financial status are some of the promising aspects in the North American market.
APAC can be one of the biggest gainers in the global smart home market, thanks to the rapid surge in urbanization and the rising preference for smart home projects. The fast uptake of the cloud technologies, improving living standard, and government initiatives to promote the adoption of smart homes solutions to bring down carbon emissions also benefit the market. India has emerged as one of the strongest contenders in the region, with a rapid surge in the number of new product launches that are catching the eye of the tech-savvy population.
Segmentation:
MRFR study of the DIY [FURL=https://www.marketresearchfuture.com/reports/smart-home-market-974/]smart home market share[/FURL] considers segments such as technology, product and software.
The prime technologies included in the report are wireless communication technologies, protocols & standards and network technologies.
Product-wise market categories are Security & Access Control, Home Healthcare, Lighting Control, HVAC Control, Entertainment Control, Smart Kitchen, and more.
The software-based segments include proactive and behavioral.