Smart Home Devices Market By Product Type (Lighting Control, Security & Access Control, HVAC Control, Entertainment Control, Smart Kitchen & Home Appliances, Others) – Growth, Future Prospects, And Competitive Landscape, 2019 -2027

Published: | Report ID: 10216 | Report Format : PDF

Increasing Penetration of Internet of Things (IoT) Technology into Home Appliances is expected to uplift the Smart Home Devices Demand Worldwide

The global smart home devices market is poised to reach US$ 320,530.9 Mn by 2027, expanding at a CAGR of 20.4% during the forecast period from 2019 to 2027. These days, rising home accidents and security theft have increased the adoption of smart devices. In addition, the rising discretionary income of people worldwide, along with the availability of a wide range of smart devices, is another major factor supporting the market growth. Recently, stats published by The Royal Society for the Prevention of Accidents (RoSPA) in the year 2019 revealed that the majority of deaths in the U.K. are the result of home accidents. Nearly 6,000 deaths occurred in the U.K. due to home accidents last year. Similarly, other countries are also facing the same problem of rising home accidents. In the wake of the same, consumer trend is dramatically shifting towards implementing smart appliances at home so that upcoming accidents can be prevented. For example, in Germany, people are predominantly adopting intelligent home appliances during building construction and renovation. As a result, EnOcean Alliance has predicted the total adoption rate of smart home appliances will reach 58% by 2025.

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Market Synopsis

Lighting Control Segment is expected to witness Highest CAGR over the Forecast Period

New energy regulations and government initiatives towards reducing electricity consumption are the prime factors flourishing the demand for smart lighting systems in the near future. Furthermore, in 2014, the European Commission announced its plan for a Nearly Zero-energy Building (NZEB) target by 2020 and all public buildings to be converted into NZEB by 2018. On account of the same, the lighting control segment is anticipated to flourish with double-digit growth throughout the forecast period. Furthermore, the enlightenment of users to adopt controlled lighting and smart switches instead of conventional ones are other major factors proliferating segment growth. As a result, companies are enhancing their product portfolio by seeking a constant surge in demand for controlled lighting and smart switches. For instance, in October 2018, Signify launched Interact Pro, an IoT lighting system and software for SMEs (Small and Medium Enterprises). The system controls and manages the intensity and ON/OFF feature of lighting in offices, thereby reducing energy costs and increasing productivity.

The Asia Pacific to witness Highest Growth Rate over the Forecast Period

Asia Pacific is expected to register the highest CAGR during the forecast period. The major reason behind the significant growth is a large number of ongoing smart home projects and favorable government policies in the region. China is the major contributor to the highest CAGR of the Asia Pacific region in the smart home devices market because of the new urbanization plan, smart city projects, and Made-in-China 2025 strategy. Following this, market players are also establishing their strong footprint in the Artificial Intelligent of Things (AIoT) market, which will boost market growth significantly. Xiaomi, a China-based electronics company, announced to launch of Mi Home, an AIoT smart home concept. The concept has combined two technologies, i.e. Artificial Intelligence (A.I.) and the Internet of Things (IoT). Xiaomi has successfully developed smart door locks, washer and dryer machines, kitchen smart top sets, and many more products with AIoT. The devices can be controlled by Mi phones and other smart Mi wearables.

Key Players & Competitive Landscape:

Some prominent players profiled in the global smart home devices market report include Signify Holding, General Electric, Whirlpool Corporation, L.G. Electronics, Samsung Electronics Co. Ltd., Siemens AG, and United Technologies Corporation. In addition, the report covers other major players: Honeywell International, Schneider Electric S.E., Amazon, Assa Abloy, Johnson Controls International, Apple Inc., Google Inc., Legrand SA, Robert Bosch GmbH, ADT, Ingersoll-Rand PLC, ABB Ltd., Hubbell Inc., and Vivint among others.

Historical & Forecast Period

This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. CAGR (Compounded Annual Growth Rate) for each segment and sub-segment is calculated for the forecast period from 2019 to 2027.

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Report Scope by Segments

The smart home devices market research offers market size and forecasts based on market dynamics and predominant trends shaping the industry. In addition, the report provides an all-round view of the global smart home devices market based on product type and geography. Key segments covered in the report are as follows:

 Product Type Segment (2017–2027; US$ Mn)

  • Lighting Control
  • Security & Access Control
  • HVAC Control
  • Entertainment Control
  • Smart Kitchen & Home Appliances
  • Others (Home Healthcare, Smart Furniture, etc.)

 Geography Segment (2017–2027; US$ Mn)

  • North America (U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (Middle East & Africa, Latin America)

1. Preface
1.1. Report Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase III-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted

2. Executive Summary
2.1. Global SHD Market Snapshot
2.1.1. Global SHD Market by Product Type, 2018
2.1.2. Global SHD Market by Geography, 2018

3. Global SHD Market Dynamics
3.1. Market Overview
3.2. Drivers
3.3. Challenges
3.4. Impact Analysis of Drivers and Challenges
3.5. Competitive Landscape
3.5.1. Market Positioning of Leading SHD Manufacturers, 2018
3.5.2. Strategies Adopted by Leading SHD Manufacturers

4. Global Smart Home Devices (SHD) Market Size (US$ Mn), By Product Type, 2017 – 2027
4.1. Overview
4.1.1. SHD Market Analysis by Product Type, 2018 & 2027
4.2. Lighting Control
4.3. Security & Access Control
4.4. HVAC Control
4.5. Entertainment Control
4.6. Smart Kitchen & Home Appliances
4.7. Others (Home Healthcare, Smart Furniture, etc)

5. North America Smart Home Devices (SHD) Market Analysis, 2017 – 2027
5.1. Overview
5.2. North America SHD Market Size (US$ Mn), By Product Type, 2017 – 2027
5.2.1. Lighting Control
5.2.2. Security & Access Control
5.2.3. HVAC Control
5.2.4. Entertainment Control
5.2.5. Smart Kitchen & Home Appliances
5.2.6. Others (Home Healthcare, Smart Furniture, etc)
5.3. North America SHD Market Size (US$ Mn), By Country, 2017 – 2027
5.3.1. U.S.
5.3.2. Rest of North America

6. Europe Smart Home Devices (SHD) Market Analysis, 2017 – 2027
6.1. Overview
6.2. Europe SHD Market Size (US$ Mn), By Product Type, 2017 – 2027
6.2.1. Lighting Control
6.2.2. Security & Access Control
6.2.3. HVAC Control
6.2.4. Entertainment Control
6.2.5. Smart Kitchen & Home Appliances
6.2.6. Others (Home Healthcare, Smart Furniture, etc)
6.3. Europe SHD Market Size (US$ Mn), By Region, 2017 – 2027
6.3.1. U.K.
6.3.2. Germany
6.3.3. France
6.3.4. Rest of Europe

7. Asia Pacific Smart Home Devices (SHD) Market Analysis , 2017 – 2027
7.1. Overview
7.2. Asia Pacific SHD Market Size (US$ Mn), By Product Type, 2017 – 2027
7.2.1. Lighting Control
7.2.2. Security & Access Control
7.2.3. HVAC Control
7.2.4. Entertainment Control
7.2.5. Smart Kitchen & Home Appliances
7.2.6. Others (Home Healthcare, Smart Furniture, etc)
7.3. Asia Pacific SHD Market Size (US$ Mn), By Country, 2017 – 2027
7.3.1. China
7.3.2. India
7.3.3. Japan
7.3.4. Rest of Asia Pacific

8. Rest of the World Smart Home Devices (SHD) Market Analysis , 2017 – 2027
8.1. Overview
8.2. Rest of the World SHD Market Size (US$ Mn), By Product Type, 2017 – 2027
8.2.1. Lighting Control
8.2.2. Security & Access Control
8.2.3. HVAC Control
8.2.4. Entertainment Control
8.2.5. Smart Kitchen & Home Appliances
8.2.6. Others (Home Healthcare, Smart Furniture, etc)
8.3. Rest of the World SHD Market Size (US$ Mn), By Country, 2017 – 2027
8.3.1. Latin America
8.3.2. Middle-East & Africa

9. Company Profiles
9.1. Competitive Dashboard
9.1.1. Signify Holding
9.1.2. General Electric
9.1.3. Whirlpool Corporation
9.1.4. LG Electronics
9.1.5. Samsung Electronics Co. Ltd.
9.1.6. Siemens AG
9.1.7. United Technologies Corporation
9.1.8. Honeywell International
9.1.9. Schneider Electric SE
9.1.10. Assa Abloy
9.1.11. Amazon
9.1.12. Johnson Controls International
9.1.13. Apple Inc.
9.1.14. Google Inc.
9.1.15. Legrand SA
9.1.16. Robert Bosch GmbH
9.1.17. ADT
9.1.18. Ingersoll-Rand PLC
9.1.19. ABB Ltd.
9.1.20. Hubbell Inc.
9.1.21. Vivint

List of Figures

FIG. 1 Global Smart Home Devices (SHD) : Market Segmentation
FIG. 2 Global SHD Market: Research Methodology
FIG. 3 Top-Down and Bottom Up Approach
FIG. 4 Global SHD Market, By Product Type, 2018 (US$ Mn)
FIG. 5 Global SHD Market, By Geography, 2018 (US$ Mn)
FIG. 6 Global SHD Market Value and Growth, 2017 – 2027, (US$ Mn and % Y-o-Y)
FIG. 7 See-Saw Analysis : Global SHD Market
FIG. 8 Market Positioning of Leading SHD Manufacturers, 2018
FIG. 9 Global SHD Market Value Contribution, By Product Type, 2018 & 2027 (Value %)
FIG. 10 Global SHD Market Value and Growth Rate for Lighting Control, 2017 – 2027, (US$ Mn)
FIG. 11 Global SHD Market Value and Growth Rate for Security & Access Control, 2017 – 2027, (US$ Mn)
FIG. 12 Global SHD Market Value and Growth Rate for HVAC Control, 2017 – 2027, (US$ Mn)
FIG. 13 Global SHD Market Value and Growth Rate for Entertainment Control, 2017 – 2027, (US$ Mn)
FIG. 14 Global SHD Market Value and Growth Rate for Smart Kitchen & Home Appliances, 2017 – 2027, (US$ Mn)
FIG. 15 Global SHD Market Value and Growth Rate for Others, 2017 – 2027, (US$ Mn)
FIG. 16 North America SHD Market Value and Growth, 2017 – 2027, (US$ Mn) (Y-o-Y %)
FIG. 17 Europe SHD Market Value and Growth, 2017 – 2027, (US$ Mn) (Y-o-Y %)
FIG. 18 Asia Pacific SHD Market Value and Growth, 2017 – 2027, (US$ Mn) (Y-o-Y %)
FIG. 19 RoW SHD Market Value and Growth, 2014– 2023, (US$ Mn) (Y-o-Y %)

List of Tables

TABLE 1 Market Snapshot: Global Smart Home Devices (SHD) Market
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 North America SHD Market Value and Growth Rate, By Product Type, 2017 – 2027 (US$ Mn)
TABLE 5 North America SHD Market Value and Growth Rate, By Country, 2017 – 2027 (US$ Mn)
TABLE 6 U.S. SHD Market Value and Growth Rate, By Product Type, 2017 – 2027 (US$ Mn)
TABLE 7 Rest of North America SHD Market Value and Growth Rate, By Product Type, 2017 – 2027 (US$ Mn)
TABLE 8 Europe SHD Market Value and Growth Rate, By Product Type, 2017 – 2027 (US$ Mn)
TABLE 9 Europe SHD Market Value and Growth Rate, By Country, 2017 – 2027 (US$ Mn)
TABLE 10 U.K. SHD Market Value and Growth Rate, By Product Type, 2017 – 2027 (US$ Mn)
TABLE 11 France SHD Market Value and Growth Rate, By Product Type, 2017 – 2027 (US$ Mn)
TABLE 12 Germany SHD Market Value and Growth Rate, By Product Type, 2017 – 2027 (US$ Mn)
TABLE 13 Rest of Europe SHD Market Value and Growth Rate, By Product Type, 2017 – 2027 (US$ Mn)
TABLE 14 Asia Pacific SHD Market Value and Growth Rate, By Product Type, 2017 – 2027 (US$ Mn)
TABLE 15 Asia Pacific SHD Market Value and Growth Rate, By Country, 2017 – 2027 (US$ Mn)
TABLE 16 China SHD Market Value and Growth Rate, By Product Type, 2014- 2023 (US$ Mn)
TABLE 17 Japan SHD Market Value and Growth Rate, By Product Type, 2017 – 2027 (US$ Mn)
TABLE 18 India SHD Market Value and Growth Rate, By Product Type, 2017 – 2027 (US$ Mn)
TABLE 19 Rest of Asia Pacific SHD Market Value and Growth Rate, By Product Type, 2017 – 2027 (US$ Mn)
TABLE 20 Rest of World SHD Market Value and Growth Rate, By Product Type, 2017 – 2027 (US$ Mn)
TABLE 21 Rest of World SHD Market Value and Growth Rate, By Region, 2017 – 2027 (US$ Mn)
TABLE 22 Latin America SHD Market Value and Growth Rate, By Product Type, 2017 – 2027 (US$ Mn)
TABLE 23 Middle-East and Africa SHD Market Value and Growth Rate, By Product Type, 2017 – 2027 (US$ Mn)

Frequently asked questions:

What is the size of Smart Home Devices Market?

The market for Smart Home Devices Market is expected to reach US$ XX Bn by 2027.

What is the Smart Home Devices Market CAGR?

The Smart Home Devices Market is expected to see significant CAGR growth over the coming years, at 20.4%.

What is the Forecast period considered for Smart Home Devices Market?

The report is forecasted from 2019-2027.

What is the base year considered for Smart Home Devices Market?

The base year of this report is 2018.

Who are the major players in this market?

Competitive Dashboard, are some of the major players in the global market.

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