This Report Analyses the Smart Home Cloud Platform Market in-depth and Forecasts Future Trends Through 2030 with a CAGR of 16.7%
Smart Home Cloud Platform Market
According to the results of a recent market research report by Persistence Market Research, the global market for smart home cloud platforms, which reached US$ 5.4 billion in 2019, is anticipated to grow at an impressive CAGR of over 17% from 2020 to 2030.
Appliances like air conditioners, TVs, geysers, and lights may be able to connect with a cloud server in a smart home. The cloud server sends and receives signals from these smart devices via cellphones, PCs, or voice-activated digital assistants.
By incorporating cloud-based technology into it, a homeowner can make their current house smart. Even when they are miles away from their homes, cloud computing enables homeowners to remotely access their home gadgets. Additionally, this technology provides homeowners with increased convenience and security by implementing secure cloud platforms.
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Key Takeaways from Smart Home Cloud Platform Market Study
- Most smart home device manufacturers are developing advanced smart home cloud platform tools to reduce network complexity and offer reliable connectivity.
- Among the applications, the smart speakers segment is expected to witness high growth, as these speakers are powered by voice assistant capabilities that offer controls for smart home devices.
- Countries across the globe such as the US, Germany, China, Japan, the UK, and Russia are witnessing changes at a faster pace, owing to rise in consumer preference toward adopting smart home devices.
- Among the regions, the smart home cloud platform market in South Asia & Pacific is exhibiting high growth, owing to increasing demand for and adoption of technological advancements, especially in smart home appliances and consumer electronics.
- As the COVID-19 pandemic gets contained, the demand for smart home cloud platforms will see a spike.
“Smart home appliance manufacturers are developing their appliances to connect to the cloud, mobile devices, wearable devices, and other Internet-enabled devices, to provide a seamless experience. Continued adoption of cloud technologies in smart home devices would drive the growth of the smart home cloud platform market,” says a PMR analyst.
Smart Device Manufacturers’ Focus on Technology Innovation to Commercialize Products to Gain Long-term Profitability
Companies such as Amazon, Google, Ayla Networks, and others are offering best-in-class smart home solutions to provide a rich customer experience for a connected lifestyle. They provide a wide range of hardware, platforms, and services for smart home device management, interactive smart assistants, with application enablement capabilities. Their smart home platforms are device agnostic, and provide a holistic view and control of all smart devices.
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Smart home system providers either develop their own cloud-based platforms or enter into technology partnerships with other platform providers to support their wide range of smart home solutions. As IoT technology moves toward wide integration, cloud-based interoperability for smart home devices would proliferate to provide huge opportunities in the smart home cloud platform market.
Key Players :
- Apple Inc
- Amazon Web Services, Inc.
- Loxone Electronics GmbH.
- Yonomi
- Qualcomm Technologies
- Cosesy
- JDCloud
- Aliyun
- Tencent
- Huawei
- Ayla Networks
- Gizwits IoT Technology
- iFLYTEK
- tronXthings
Smart Home Cloud Platform Market: Segmentation
PMR’s research study on the global smart home cloud platform market offers a detailed market taxonomy, wherein, key segments have been discussed in detail. The segmentation of the smart home cloud platform market has been offered on the basis of solution, application, and region. Every segment has been analyzed in detail, and data pertaining to the growth of each segment has been included in the study.
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