The “Smart Homes Market Research Report by Component, by Region – Global Forecast to 2026 – Cumulative Impact of COVID-19” report has been added to ResearchAndMarkets.com’s offering.
The Global Smart Homes Market size was estimated at USD 83.30 Billion in 2020 and expected to reach USD 93.23 Billion in 2021, at a Compound Annual Growth Rate (CAGR) 12.26% to reach USD 166.73 Billion by 2026.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Smart Homes Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Global Smart Homes Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Smart Homes Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Smart Homes Market?
4. What is the competitive strategic window for opportunities in the Global Smart Homes Market?
5. What are the technology trends and regulatory frameworks in the Global Smart Homes Market?
6. What is the market share of the leading vendors in the Global Smart Homes Market?
7. What modes and strategic moves are considered suitable for entering the Global Smart Homes Market?
Market Dynamics
Drivers
- Growth in IoT and rapid proliferation of smart devices
- Increasing demand for home monitoring from remote locations
- Increasing demand for energy-efficient solutions
- Collaborative market space and a large number of manufacturers expanding their product portfolios
- Growing concern about safety, security, and convenience, among people
- Growing need for automation of security systems
Restraints
- Convenience-driven demand
- High installation and replacement costs
- Security and privacy concern
Opportunities
- Government regulations for promoting green buildings
- Lighting controllers with in-built data-connectivity technology
- Power-line communication technology integrated into smart homes
Challenges
- Complexity in linking disparate systems, limited functionality, and lack of open standards
Companies Mentioned
- ABB Ltd.
- Acuity Brands, Inc.
- Control4 Corporation
- Emerson Electric Corporation
- General Electric Company
- Honeywell International Inc.
- Johnson Controls, Inc.
- Legrand SA
- LG Electronics Inc.
- Lutron Electronics Co. Inc.
- Schneider Electric SE
- Siemens AG
- Smart home Inc.
- United Technologies Corporation
- Vivint Smart Home
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