Smart Home Market worth 121.73 Billion USD by 2022
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APAC Smart Homes Market by Services & Products - 2020 PowerPoint PPT Presentation


APAC Smart Homes Market categories European market by Services (Installation & Repair, Renovation & Customization) & Products (Security, Access, Lighting, Entertainment, Energy Management Systems, HVAC, Ballast & Battery Pack) & Geography.

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APAC Smart Homes Market by Services & Products - 2020

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Apac smart homes market by services amp products 2020

Smart Home Market worth 121.73 Billion USD by 2022

Smart Home Market

APAC Smart Homes Market categories European market by Services (Installation & Repair,

Renovation & Customization) & Products (Security, Access, Lighting, Entertainment, Energy

Management Systems, HVAC, Ballast & Battery Pack) & Geography.

The growth of the smart home market is attributed to factors such as significant

advancements in the IoT market; increasing need of the consumer for convenience, safety and

security; rising need for energy saving and low carbon emission-oriented solutions; and large

number of manufacturers expanding their product portfolios.

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The market for lighting control in smart homes is expected to grow at a high CAGR during

the forecast period as it reduces the electricity consumption in homes as the sensors adjust the

intensity of artificial light according to the intensity of natural light. Lighting systems are

among the largest consumers of electricity in homes. Over the years, the growing

environmental concerns have helped spread awareness regarding the importance of smart

homes and home energy management measures.

Smart meters record the energy consumption at frequent intervals, usually an hour, and

communicate this information back to the utility for billing and monitoring purposes. Energy

suppliers use smart meters to achieve specific and automated billing. Smart meters in the

residential application are integrated with communication protocols to transfer the energy

flow information to the home owner. These meters help consumers reduce their energy bills

and also help conserve energy. Thus, the smart home market for smart meters is expected to

witness significant growth during the forecast period.

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The APAC region is witnessing growth in the number of new residential projects and

strengthening of building infrastructure at a significant rate. Moreover, a considerable

demand for smart home devices is seen in established and emerging APAC countries such as

Japan, South Korea, China, and in Rest of APAC (RoAPAC). Currently, South Korea is

considered to be a huge market for smart homes because of the high demand for various

control devices pertaining to lighting and entertainment control in this country.

The major companies in the smart home market that have been included in this report are

Honeywell International Inc. (U.S.), Legrand (France), Ingersoll-Rand plc. (Ireland), Johnson

Controls Inc. (U.S.), Schneider Electric SE (France), Siemens AG (Germany), ABB Ltd.

(Switzerland), Acuity Brands, Inc. (U.S.), United Technologies Corporation (U.S.), Samsung

Electronics Co., Ltd. (South Korea), Nest Labs, Inc. (U.S.), and Crestron Electronics, Inc.

(U.S.).

The report describes the market dynamics including the key drivers, restraints, challenges,

and opportunities with respect to the smart home market and forecasts the market till 2022.

This global report provides a detailed view of the market segmented on the basis of product,

software and service, and geography.


Apac smart homes market by services amp products 2020

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