Smart Home As A Service Market Size, Share, Growth Report 2032

The global Smart Home as a Service market, which accrued revenue worth nearly 7 (USD Billion) in 2019 and is slated to garner earnings worth 13.39 (USD Billion) by 2026, is set to grow at a CAGR of 18.5% during the period from 2020 to 2026. The report offers valuation and analysis of the Smart Home as a Service market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2026 based on value (USD Billion).

Introduction

Smart home as a service is a kind of service that helps the service provider choose, deploy, maintain, upgrade, and program smart home equipment. This business model utilizes new technologies like connected equipment, cloud intelligence, social media, and sensors. Moreover, these techniques are integrated into easy-to-use app that assists the service providers in operating them effortlessly. In addition to this, smart home as a service market is influenced by three key aspects including functionality, intelligence, and connectivity.

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Market Growth Drivers

Escalating demand for surveillance along with robust security will succor the expansion of smart home as a service industry over the forecasting years. Smart homes enrich entertainment abilities like content sharing and assist the users in controlling their entertainment equipment from the distant locations and this will embellish the market trends. Furthermore, service industry has dominated the overall economy and has made notable contributions towards GDP of developed countries as well as emerging countries. Moreover, smart home as a service industry is no exception to this. The efficient delivery of services has resulted in the value creation and this will embellish the market trends.

Furthermore, growing need for saving costs on energy utility due to use of smart appliances in households will further drive the market growth over the forecast timespan. Furthermore, large-scale use of smart lights, smart outlets, smart ACs, and smart fans will scale up the market demand over the forecasting years. Nonetheless, huge costs of smart home equipment and growing concerns pertaining to privacy & misuse of smart home services can prove detrimental to the market growth. However, strong connectivity offered by smart home solutions is slated to offset the negative impact of hindrances on the market expansion over the ensuing years.

North America To Make Sizable Contributions Towards Overall Market Size By 2026

The growth of the regional market over the forecast timeline is due to use of new technologies in the countries like the U.S. and Canada along with humungous presence of reputed players in the sub-continent. In addition to this, evolution of high speed 5G network connection and paradigm shift in the IT sector will boost the regional market trends. Apparently, need for smart home systems and proficient interconnection in households due to hectic work schedule & busy lifestyle will proliferate the business growth in the sub-continent over the forecast timeline. Countries like the U.S. are projected to be the major regional growth drivers over the forecast timespan.

Key players influencing the market growth and profiled in the report include CenturyLink, Inc., Vivint, Inc., AT&T Inc., Comcast Corporation, Johnson Controls, Inc., Protection One Alarm Monitoring, Inc., Charter Communications (TWC), Ingersoll-Rand plc (Nexia), Frontpoint Security Solutions, and The ADT Corporation.

The global smart home as a service market is segmented as follows:       

By service:

• Integrated Services
• Managed Services

By solution:

• Energy Management & Climate
• Security & Access
• Lighting & Window
• Audio-Visual & Entertainment Integrated Solutions

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa