06-Oct-2020 | Zion Market Research
As per researchers at Zion Market Research, the global smart home as a service market is projected to reach USD 13.39 billion by 2026 and develop at 18.5% CAGR during the forecasted period 2020–2026. Besides expediency, a major factor boosting the uptake of smart home products is their service in energy management. A smart home as a service solution enables consumers to manage entertainment & other electronic appliances remotely and also assist users to keep a tab on the energy consumption. Additionally, the surging demand for highly developed security & surveillance has formed an environment supporting the robust development of the global smart home as a service market. The smart home as a service market has attracted new players due to the opportunities it demonstrates. While this poses a peril to the existing firms, it also lays the groundwork for innovations and upgradation of current technologies.
Some of the major players in the market are CenturyLink, Inc., AT&T Inc., Comcast Corporation, Charter Communications (TWC), Ingersoll-Rand plc (Nexia), Frontpoint Security Solutions, Protection One Alarm Monitoring, Inc., Johnson Controls, Inc., Vivint, Inc., and The ADT Corporation.
The Development In Infrastructure Will Accelerate The Growth In Global Smart Home as a Service Market
The rising population around the world has led to the surged of per-head energy demand and consumption. There are costs linked with maintenance and upgradation of aging infrastructure, owing to higher demand. This is driving flexibility in the smart home as a service market. Smart energy management technologies aid utilities and distributors to manage loads better, decrease the requirement for expensive infrastructure development, and enhance service quality & customer satisfaction. The energy management in smart homes chiefly includes smart appliances, smart meters, home power generation, and energy management systems for appliances all operating on smart grids. In addition, the altering trends in smart home designs are expected to spur the demand for smart home as a service market in the coming years.
The global smart home as a service market is bifurcated on the basis of service, solution, and regional analysis. Based on the service, the market is divided into integrated services and managed services. Based on the solution, the market is divided into lighting & window, security & access, energy management & climate, audio-visual & entertainment, and integrated solutions.
North America Region Estimated To Dominate The Global Smart Home As A Service Market
Based on geographical analysis, the global smart home as a service market is divided into North America, Latin America, Europe, Middle East & Africa, and Asia Pacific. The North American region is projected to rule the global market due to slow growth of industries in the upcoming years. Furthermore, the surge in consumer expenditure mainly in the U.S. will be bolstering the demand of the global market. This is accredited to the higher demand for numerous control gadgets, including lighting control solutions. The incidence of a huge end-user base in developed economies such as the U.S. is fueling the market.
Browse the full “Smart Home As A Service Market - By Service (Integrated Services and Managed Services), By Solution (Lighting & Window, Security & Access, Energy Management & Climate, Audio-Visual & Entertainment, and Integrated Solutions), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/smart-home-service-market
The global smart home as a service market is segmented as follows:
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