The global smart homes, buildings (energy efficient, automated) market was valued at $32.0 billion in 2020, and is projected to reach $78.2 billion by 2030, growing at a CAGR of 9.4% from 2021 to 2030. Smart home is a home in which appliances such as lighting, climate, and entertainment systems are monitored remotely. It may also include home security such as access control and alarm systems. In addition, it provides innovative, energy-efficient, and future-oriented automation solutions. Moreover, any device in homes that use electricity can be put on home network with an individual command. The command can access by voice, remote control, tablet, or smartphone. Furthermore, increase in importance to counter security issues is anticipated to fuel demand for smart and connected homes during the forecast period. Moreover, innovative wireless technologies, including security and access regulators, entertainment controls, and HVAC controllers are expected to foster the market growth. Furthermore, smart home devices are connected with each other and can be accessed through one central point-a smartphone, tablet, laptop, or game console. Door locks, televisions, thermostats, home monitors, cameras, lights, and even appliances such as refrigerator can be controlled through one home automation system.
Energy efficiency has become the need of the hour as the global energy cost is increasing, owing to ever-growing demand and environmental concerns of greenhouse gas (GHG) emission. The construction business is embracing the energy efficiency trend and using building automation system to meet the growing demand for energy efficiency in smart homes and buildings. However, there are some factors such as high upfront cost and lack of standards and interoperability which are expected to act as restraints for the market growth.
The global smart homes, buildings (energy efficient, automated) market is segmented on the basis of application, technology, end use, and region. By application, it is classified as energy management, lighting control, HVAC, safety & security, home healthcare, and child safety. By technology, it is categorized into Bluetooth, Zigbee, RFID, and Wi-Fi. By end use, it is categorized into residential, commercial, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in this report include Cisco Systems, Inc., Control4 Corporation, Leviton MFG. Company Inc., Schneider Electric SA, Siemens Building Technologies, United Technologies Corporation, Honeywell Scanning & Mobility, Smarthome, Inc., Emerson Electric Co., and LG Electronics Inc.
The COVID-19 pandemic has had a significant impact on the construction sector. COVID-19 outbreak have severely disrupted the economy, with devastating effects on global trade and it has simultaneously affected households, businesses, financial institution, industrial establishments, and infrastructure companies. The economic crisis caused by the virus has hit many organizations around the world. Similarly, construction and engineering projects around the world have been jeopardized in various ways by the COVID-19 pandemic and many projects have been closed. As a result, there has been a financial recession in the construction industry in almost all countries and has created unemployment. This situation has caused great concern, uncertainty, and unrest in the construction industry. In addition, the smart homes & buildings sector is a segregated part of construction, however, negative impact on construction shows negative result on smart homes, buildings (energy efficient, automated) market.
Sales of smart homes, buildings (energy efficient, automated) gadgets is directly proportional to the sales of electronic gadgets. Disrupted import & export activities led to decline in production of such gadgets, which, in turn, led to decline in growth of the smart homes, buildings (energy efficient, automated) market.
Energy efficiency has become the need of the hour as the global energy cost is increasing, owing to ever-growing demand and environmental concerns of greenhouse gas (GHG) emission. The construction business is embracing the energy efficiency trend and using building automation system to meet the growing demand for energy efficiency in smart homes and buildings. However, there are some factors such as high upfront cost and lack of standards and interoperability which are expected to act as restraints for the market growth.
The global smart homes, buildings (energy efficient, automated) market is segmented on the basis of application, technology, end use, and region. By application, it is classified as energy management, lighting control, HVAC, safety & security, home healthcare, and child safety. By technology, it is categorized into Bluetooth, Zigbee, RFID, and Wi-Fi. By end use, it is categorized into residential, commercial, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in this report include Cisco Systems, Inc., Control4 Corporation, Leviton MFG. Company Inc., Schneider Electric SA, Siemens Building Technologies, United Technologies Corporation, Honeywell Scanning & Mobility, Smarthome, Inc., Emerson Electric Co., and LG Electronics Inc.
IMPACT OF COVID-19 ON THE GLOBAL SMART HOMES, BUILDINGS (ENERGY EFFICIENT, AUTOMATED) MARKET
The COVID-19 pandemic has had a significant impact on the construction sector. COVID-19 outbreak have severely disrupted the economy, with devastating effects on global trade and it has simultaneously affected households, businesses, financial institution, industrial establishments, and infrastructure companies. The economic crisis caused by the virus has hit many organizations around the world. Similarly, construction and engineering projects around the world have been jeopardized in various ways by the COVID-19 pandemic and many projects have been closed. As a result, there has been a financial recession in the construction industry in almost all countries and has created unemployment. This situation has caused great concern, uncertainty, and unrest in the construction industry. In addition, the smart homes & buildings sector is a segregated part of construction, however, negative impact on construction shows negative result on smart homes, buildings (energy efficient, automated) market.
Sales of smart homes, buildings (energy efficient, automated) gadgets is directly proportional to the sales of electronic gadgets. Disrupted import & export activities led to decline in production of such gadgets, which, in turn, led to decline in growth of the smart homes, buildings (energy efficient, automated) market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the smart homes, buildings (energy efficient, automated) market analysis from 2020 to 2030 to identify the prevailing smart homes, buildings (energy efficient, automated) market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the smart homes, buildings (energy efficient, automated) market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global smart homes, buildings (energy efficient, automated) market growth, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
- HVAC
- Safety and Security
- Home healthcare and child safety
- Energy management
- Lighting control
By Technology
- Bluetooth
- Zigbee
- RFID
- Wi-Fi
By End Use
- Residential
- Commercial
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Cisco Systems, Inc.
- Control4 Corporation
- Leviton MFG. Company Inc.
- Schneider Electric SA
- Siemens Building Technologies
- United Technologies Corporation
- Honeywell Scanning & Mobility
- Smarthome, Inc.
- Emerson Electric Co.
- LG Electronics Inc
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SMART HOMES, BUILDINGS (ENERGY EFFICIENT, AUTOMATED) MARKET, BY APPLICATION
CHAPTER 5: SMART HOMES, BUILDINGS (ENERGY EFFICIENT, AUTOMATED) MARKET, BY TECHNOLOGY
CHAPTER 6: SMART HOMES, BUILDINGS (ENERGY EFFICIENT, AUTOMATED) MARKET, BY END USE
CHAPTER 7: SMART HOMES, BUILDINGS (ENERGY EFFICIENT, AUTOMATED) MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
Smart Homes, Buildings (Energy Efficient, Automated) Market size was valued at $32.0 billion in 2020, and is estimated to reach $78.2 billion by 2030, growing at a CAGR of 9.4% from 2021 to 2030.A smart home is a residence that uses internet-connected devices to enable remote monitoring and management of appliances and systems, such as lighting and heating. Smart home technology, also often referred to as home automation or domotics (from the Latin 'domus' meaning home), provides homeowners security, comfort, convenience, and energy efficiency by allowing them to control smart devices, often by a smart home app on their smartphones or other networked devices. A part of the internet of things (IoT), smart home systems, and devices often operate together sharing consumer usage data among themselves and automating actions based on preferences of homeowners. Examples of smart home technologies are smart TVs connected to internet to access content through applications, such as on-demand video and music. Some smart TVs also include voice or gesture recognition. In addition to being able to be controlled remotely and customized, smart lighting systems, such as Hue from Philips Lighting Holding B.V., can detect when occupants are in the room and adjust lighting as needed. Smart lightbulbs can also regulate themselves based on daylight availability. Smart thermostats, such as Nest from Nest Labs Inc., come with integrated Wi-Fi, allowing users to schedule, monitor and remotely control home temperatures. These devices also learn behaviors and automatically modify settings to provide residents with maximum comfort and efficiency. Smart thermostats can also report energy use and remind users to change filters.
Smart homes are a priority area of strategic energy planning and national policy. Adoption of smart home technologies (SHTs) relies on prospective users perceiving clear benefits with acceptable levels of risk.
Key factors responsible for the smart homes, buildings (energy efficient, automated) market growth include remote control of home functions, increased energy efficiency, and improved appliance functionality.
Significant installation costs, reliable internet connection, security issues, and technological problems in connected homes act as restrains for the market growth.
The global smart homes, buildings (energy efficient, automated) market analysis is segmented on the basis of application, technology, end use, and region. By application, it is classified as energy management, lighting control, HVAC, safety & security, home healthcare, and child safety. By technology, it is categorized into Bluetooth, Zigbee, RFID, and Wi-Fi. By end use, it is categorized into residential, commercial, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in this report include Cisco Systems, Inc., Control4 Corporation, Leviton MFG. Company Inc., Schneider Electric SA, Siemens Building Technologies, United Technologies Corporation, Honeywell Scanning & Mobility, Smarthome, Inc., Emerson Electric Co., and LG Electronics Inc.
The report focuses on the global smart homes, buildings (energy efficient, automated) market forecast. It further highlights numerous factors that influence the market growth, such as forecast, trends, drivers, restraints, opportunities, and roles of different key players that shape the market. The report focuses on the overall demand for smart gadgets and applications used in the homes, buildings (energy efficient, automated) market in various countries, presenting data in terms of both value and volume. The revenue is calculated by proliferating the volume by region-specific prices, considering region-wise differentiated prices.
IMPACT OF COVID-19 ON THE GLOBAL SMART HOMES, BUILDINGS (ENERGY EFFICIENT, AUTOMATED) MARKET
- The COVID-19 pandemic has had a significant impact on the construction sector. COVID-19 outbreak have severely disrupted the economy, with devastating effects on global trade and it has simultaneously affected households, businesses, financial institution, industrial establishments, and infrastructure companies. The economic crisis caused by the virus has hit many organizations around the world. Similarly, construction and engineering projects around the world have been jeopardized in various ways by the COVID-19 pandemic and many projects have been closed. As a result, there has been a financial recession in the construction industry in almost all countries and has created unemployment. This situation has caused great concern, uncertainty, and unrest in the construction industry. In addition, the smart homes & buildings sector is a segregated part of construction, however, negative impact on construction shows negative result on smart homes, buildings (energy efficient, automated) market.
- Sales of smart homes, buildings (energy efficient, automated) gadgets is directly proportional to the sales of electronic gadgets. Disrupted import & export activities led to decline in production of such gadgets, which, in turn, led to decline in growth of the smart homes, buildings (energy efficient, automated) market.
- COVID-19 impacted almost all industries by hindering various industrial operations and disrupting the supply chain. Maximum companies halted their operations due to less workforce. However, there is a sluggish decline in the global smart homes, buildings (energy efficient, automated) market, owing to impact of the COVID-19.
- Furthermore, import and export activities were significantly impacted, which, in turn, adversely affected the industries using smart homes, buildings (energy efficient, automated) and thereby affecting the market.
Key findings of the Study
- On the basis of application, the lightning control segment emerged as the global leader in 2020, and is anticipated to be the largest market during the forecast period.
- Depending on the technology, the Wi-Fi segment emerged as the global leader in 2020, and is anticipated to be the largest market during the forecast period.
- As per end-use, the residential segment emerged as the global leader in 2020, and is anticipated to be the largest market during the forecast period.
- On the basis of region, Asia-Pacific registered highest market share, and is projected to maintain the same during the forecast period.
Companies Mentioned
- Cisco Systems, Inc.
- Control4 Corporation
- Leviton MFG. Company Inc.
- Schneider Electric SA
- Siemens Building Technologies
- United Technologies Corporation
- Honeywell Scanning & Mobility
- Smarthome, Inc.
- Emerson Electric Co.
- LG Electronics Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 290 |
| Published | April 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 32 billion |
| Forecasted Market Value ( USD | $ 78.2 billion |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
