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Press Release

Smart Homes Market to Leverage Advancement of IoT and Improvement in Consumer Acceptance Spurring Demand

Smart Homes Market is likely to touch US$ 97.61 bn by the end of 2025

This press release was orginally distributed by SBWire

Albany, NY -- (SBWIRE) -- 03/23/2019 -- The global smart homes market is envisaged in a report by Transparency Market Research (TMR) to witness a moderate degree of competition due to the presence of a small number of players. However, the factor of high profitability could encourage more players to enter the global smart homes market during the forecast period 2017-2025. Merger and acquisition and constant improvement of product portfolio are expected to see high adoption among players to gain a stronger share of the global smart homes market. Some of the leading players of the global smart homes market are Schneider Electric SE, Johnson Controls, Inc., and Honeywell International, Inc.

Browse The Report: https://www.transparencymarketresearch.com/smart-homes-market.html

TMR envisions the global smart homes market to post a 14.6% CAGR to reach a US$97.61 bn in valuation by 2025. In 2016, the global smart homes market was valued at a US$30.02 bn. Among applications, HVAC control could bag a colossal share of the global smart homes market by the end of the forecast period. In 2016, it collected a 27.2% share of the global smart homes market. From a geographical standpoint, the smart homes market is foreseen to find North America taking its command in terms of revenue growth. In 2016, the regional smart homes market accounted for a 38.7% share.

Rising Need to Save Energy and Enable Automation at Homes to Boost Growth

The global smart homes market is predicted to gain momentum in its growth because of the rising adoption of IoT. Urban populations showing an increasing inclination toward home automation for saving energy could set the tone for valuable growth in the global smart homes market. On the other hand, reducing prices of processors and sensors is expected to improve the demand in the global smart homes market. The growing need to improve home security, high focus on enabling ease of living, and rising disposable income of people could create several opportunities in the global smart homes market.

Get PDF Sample for this Research Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=163

The advent of high-speed internet and increasing demand for Wi-Fi connectivity are prophesied to provide a fillip to the global smart homes market. Besides North America, Europe could witness a strong rise in the demand for smart homes owing the need to reduce energy consumption and presence of a significant count of industries in the region.

Extortionate Cost of Smart Home Services to Provide Headwinds to Market

The requirement of constant maintenance and expensive cost of various tools and services are forecast to hamper the demand for smart homes. Rising number of privacy issues and cases of security breach could make up another factor dampening the growth of the global smart homes market. However, improving adoption of power line communication technology is prognosticated to bolster the global smart homes market. On the other hand, the need to improve energy efficiency and enhance entertainment, security, lighting controls, and other applications in residences could augment the demand in the global smart homes market.

For more information on this press release visit: http://www.sbwire.com/press-releases/smart-homes-market-to-leverage-advancement-of-iot-and-improvement-in-consumer-acceptance-spurring-demand-1178916.htm

Media Relations Contact

Rohit Bhisey
AVP Marketing
Transparency Market Research
Telephone: 1-518-618-1030
Email: Click to Email Rohit Bhisey
Web: https://www.transparencymarketresearch.com/

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