Global Smart Home Market  Size and Overview

Smart homes are equipped with inte
et-enabled devices for enabling remote monitoring and the management of systems and appliances such as heating and lighting. Smart homes provide the home owners with comfort, security, energy efficiency, and convenience by enabling them to control their devices through their smartphones or any networked device.

Rapid growth in IoT paired with the rising need for energy efficiency has widely driven the market growth of smart home market. Further, rise in disposable incomes in the emerging economies has supplemented this growth. However, security conce
s and high switching cost for the buyers is impeding the proliferation of smart homes to a considerable extent.

The smart home market is segmented on the basis of application and geography. Lighting control, security & access control, HVAC control, home appliances, and others are analyzed in the segmentation by application. Geographically, the smart home market is sub-divided into North America, Europe, Asia-Pacific, and Rest of the world.

The key market players operating in the smart home market include ABB Ltd., Emerson Electric Corporation, Honeywell Inte
ational Inc., Schneider Electric, Siemens AG, Cisco Systems Inc., Ingersoll Rand PLC, General Electric, IBM Corporation, and Legrand SA among others.

SMART HOME MARKET SEGMENTS

Market By Application

•    Lighting control

•    Security & access control

•    HVAC control

•    Home appliances

•    Others

Market By Geography

•    North America

•    Europe

•    Asia Pacific

•    Rest of the world

KEY PLAYERS

•    ABB Ltd.

•    Emerson Electric Corporation

•    Honeywell Inte
ational Inc.

•    Schneider Electric

•    Siemens AG

•    Cisco Systems Inc.

•    Ingersoll Rand PLC

•    General Electric

•    IBM Corporation

•    Legrand SA