High-speed internet expected to advance the demand for smart home appliances

Technology - Mohit Shah - May 24,2017

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high speed internet expected to advance the demand for smart home appliances

Increasing consumer acceptance, ease of monitoring, managing and controlling devices, is an important factor bolstering the demand for smart homes on a global scale.

Smart homes are basically the residences which are equipped with information and computing technology devices which respond to the requirement of the owner in an efficient and effective manner. The modern world consists of smart homes which involve automation and control of heating, air conditioning, ventilation as well as security system (HVAC).

Presently, the recent advancements in the Internet of Things (IoT) along with the introduction of high-speed internet have risen the demand for smart home appliances. As per a recent report published by Market Research Reports Search Engine (MRRSE), the market for smart homes worldwide will surge at a positive CAGR of 14.6% from 2017 to 2025. Surprisingly, it is anticipated that the valuation would reach US$ 97.61 billion by the end of 2025 from the previous year mark of US$ 30.02 billion.  

Moreover, the increasing consumer acceptance is seen as a crucial factor boosting the demand of smart homes. The advent of technologies such as Wi-Fi, near field communications, smartphones, Bluetooth and ZigBee protocols, have furthermore amplified the requirement for smart home solutions.  

Since the past few years, the active geographical market centers include Asia Pacific, Latin America, Europe, North America and Middle East and Africa. Among these, North America has developed as the leading market for smart homes, possessing a market share of 38.7% in 2016.

The global market for smart homes is managed by several key players such as Siemens AG, LG Electronics Inc., ABB Ltd., Johnson Controls Inc., Schneider Electric SE, Emerson Electric Company, Samsung Electronics Co., Ltd., Honeywell International Inc., United Technologies Corporation and Crestron Electronics, Inc. 

 

For more information on this report visit- http://www.mrrse.com/smart-homes-market