The Home Automation Market size was valued at USD 64.65 billion in 2022 and is expected to grow to USD 448.66 billion by 2030 and grow at a CAGR of 27.4 % over the forecast period of 2023-2030.
A home automation system will keep an eye on and/or regulate aspects of the home such the lighting, air conditioning, entertainment, and appliance systems. Devices for home automation with internet access are referred to as "smart homes" in this context. The popularity of home automation systems has grown significantly over the past few decades, and they improve comfort and quality of life. An overview of existing and developing home automation systems is covered in this study. These days, smartphones and microcontrollers are the main components of home automation systems. Using a variety of connection methods, a smart phone application is utilized to manage and monitor the home appliances. This study compares the features of various wireless communication technologies, including ZigBee, Wi-Fi, Bluetooth, EnOcean, and GSM, in order to let customers decide which technology they want to employ to design their own home automation system. Additionally, this research project discusses the assessment of several home automation systems and their benefits and shortcomings are also emphasized.
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Growing consumer interest in smart home technology
Growing government initiatives for smart city technologies
Increasing demand for energy-efficient technology
The major drivers of the home automation sector include the surge in demand for energy-efficient solutions, the quick development of the loT market, comfort and simplicity of use, technological improvements, an increase in smartphone users, and a rise in security concerns.
RESTRAIN:
Expensive products
Home automation's high initial expenses
Consumers ignorance of the products available
OPPORTUNITY:
More cutting-edge smart devices are needed to increase product share
Rapid urbanization in developing nations
United Nations research estimates that Asia and Africa would account for over 90% of the population growth by 2050. Additionally, 600 major cities worldwide mostly in Central Asia and Africa are anticipated to experience increasing urbanization and industrial development by 2025. With the emergence of smart cities, urbanization is accelerating in developing countries as well. The concentration of housing construction in cities in emerging countries has led to an increase in demand for better housing infrastructure. This would in the installation of home automation systems in recently built, modern housing developments.
CHALLENGES:
Internet of things (loT) technology implementation
Smart appliances, smart lights, smart thermostats, smart security systems, and smart entertainment systems may all be connected to and work together thanks to the Internet of Things (loT). In order to automate jobs and routines in their homes, homeowners can do this by building a cohesive ecosystem of smart devices that can connect, share data, and cooperate. Homeowners can program automatic procedures to operate the smart security system, turn on the smart lighting, and regulate the temperature using the smart thermostat.
IMPACT OF RUSSIA-UKRAINE WAR
Due to the conflict between Russia and Ukraine, this industry has seen fast expansion in recent years, driven by rising Internet of Things (IoT) technology and rising demand for home automation systems. The production and distribution of smart home gadgets have been impacted by supply chain disruption brought on by the war. the main obstacle encountered the shortage of electronic components, which are primarily imported from China, is caused by the smart home market. Due to the trade limitations and sanctions imposed on Russia, it has been challenging for manufacturers to obtain these components, which has caused production delays and higher costs. As a result, the market for smart homes has slowed dramatically because consumers are reluctant to spend money on pricey and unreliable gadgets. The smart home market's consumer behaviour and preferences have also been impacted by the war. IDC projects that the war will reduce global ICT investment by $5.5 billion in 2022. Customers are increasingly worried about their safety and security due to the continuous conflict and political unrest. As a result, there is now more demand for smart home security systems, including cameras, motion detectors, and locks. The demand for high-end smart home appliances and voice assistants, on the other hand, has declined as a result of the uncertain economy and tight budgets.
IMPACT OF ONGOING RECESSION
According to the survey, 43% of businesses expect to reduce their personnel as a result of technological integration, 41% expect to increase the use of contractors for task-specific labor, and 34% expect to increase it. Employers will distribute work equally between people and machines by 2025. The demand for jobs that make use of human skills will increase. For both white-collar and blue-collar employment, machines will be predominantly employed for information and data processing, office work, and standard manual labor. In the fourth industrial revolution's technology sectors like artificial intelligence and the disciplines of content production, 97 million new jobs will be created as the economy and labor markets change. Managing, counselling, and teaching are among the roles where humans are expected to maintain a competitive advantage giving advice, making decisions, using logic, talking, and interacting. There is a need for individuals who can fill positions in the green economy, those at the cutting edge of the data and AI economy, as well as brand-new positions in engineering, cloud computing, and product creation.
By Component
Hardware
Lighting Control
Security & Access
Entertainment Control & Others
Smoke Detector
Others
Software & Solutions
Services
By Technology
Cellular
Wireless
Others
By Fitment
New Construction
Retrofit
By Application
Security
Lighting
Entertainment
HVAC & Energy Management
Smart Kitchen
Other Appliances
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The USA area will hold a 14.8% share of the worldwide home automation market in 2022. This market expansion can be ascribed to a number of causes, including increased governmental initiatives toward smart cities, an increase in demand for premium automated household appliances, etc.
With a share of 24.5% predicted for North America in the global home automation market by 2022, South Asia Pacific is predicted to develop at the highest rate in the market, with a CAGR of 12.2% is projected for the years 2023 to 2033.
Increased use of cutting-edge technology like artificial intelligence and the Internet of things, as well as emerging tendencies in Demand for smart technology in North America, is driven by smart cities and the increasing disposable income market.
Due to reasons including increased security concerns and the rapid expansion of the residential flat culture, which has led to an increase in demand, the China area is developing at the quickest rate with a CAGR of 29.1% in the global home automation market for cutting-edge security systems, etc.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The Major Players are ABB Ltd., Control4 Corporation, Crestron Electronics, Inc., Honeywell International, Inc., Ingersoll-Rand plc, Johnson Controls, Legrand SA, Leviton Manufacturing Company, Inc., Lutron Electronics Co., Inc., Schneider Electric, Siemens AG and other players are listed in a final report.
Skyworks Solutions, Inc. and Semtech Corporation introduced the SKY66423-SX1261 for low-power wide-area networks (LPWAN) in January 2023. It combines the S$X1261 transceiver from Semtech's LoRa ConnectTM line with the SKY66423 front-end module (FEM) for use in a variety of industrial and smart home automation applications.
At the Consumer Electronics Show (CES) in January 2023, Shelly, a division of Allterco Robotics, Ltd., unveiled eight new smart home automation products. The most recent devices' functionality has been improved while maintaining the brand's core benefits of cost, interoperability, accessibility, energy efficiency, and installation simplicity.
April 2021: Crestron Electronics unveiled the Horizon Thermostat, a touch-screen smart thermostat with a two-wire retrofit design. It communicates with the Crestron Home platform to offer smart automation capabilities, such as the most comfortable, appropriate, and energy-efficient lighting effects.
| Report Attributes | Details |
| Market Size in 2022 | US$ 32.4 Bn |
| Market Size by 2030 | US$ 56.93 Bn |
| CAGR | CAGR of 7.3 % From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Component (Hardware (Lighting Control, Security & Access, HVAC Control, Entertainment Control & Others, Smoke Detector, Others), Software & Solutions, Services) • By Technology (Cellular, Wireless, Others) • By Fitment (New Construction, Retrofit) • By Application (Security, Lighting, Entertainment, HVAC & Energy Management, Smart Kitchen, Other Appliances) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | ABB Ltd., Control4 Corporation, Crestron Electronics, Inc., Honeywell International, Inc., Ingersoll-Rand plc, Johnson Controls, Legrand SA, Leviton Manufacturing Company, Inc., Lutron Electronics Co., Inc., Schneider Electric, Siemens AG |
| Key Drivers | • Growing consumer interest in smart home technology • Growing government initiatives for smart city technologies • Increasing demand for energy-efficient technology |
| Market Restraints | • Expensive products • Home automation's high initial expenses • Consumers ignorance of the products available |
Ans: Home Automation Market is anticipated to expand by 27.4 % from 2023 to 2030.
Ans: USD 448.66 billion is expected to grow by 2030.
Ans: Expensive products, Home automation's high initial expenses and Consumers ignorance of the products available.
Ans: Home Automation Market size was valued at USD 64.65 billion in 2022
Ans: Internet of things (loT) technology implementation
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia war
4.2 Impact of ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Home Automation Market Segmentation, By Component
8.1 Hardware
8.1.1 Lighting Control
8.1.2 Security & Access
8.1.3 HVAC Control
8.1.4 Entertainment Control & Others
8.1.5 Smoke Detector
8.1.6 Others
8.2 Software & Solutions
8.3 Services
9. Home Automation Market Segmentation, By Technology
9.1 Cellular
9.2 Wireless
9.3 Others
10. Home Automation Market Segmentation, By Fitment
10.1 New Construction
10.2 Retrofit
11. Home Automation Market Segmentation, By Application
11.1 Lighting
11.2 Security
11.3 Lighting
11.4 Entertainment
11.5 HVAC & Energy Management
11.6 Smart Kitchen
11.7 Other Appliances
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 North America Home Automation Market by Country
12.2.2North America Home Automation Market by Component
12.2.3 North America Home Automation Market by Technology
12.2.4 North America Home Automation Market by Fitment
12.2.5 North America Home Automation Market by Application
12.2.6 USA
12.2.6.1 USA Home Automation Market by Component
12.2.6.2 USA Home Automation Market by Technology
12.2.6.3 USA Home Automation Market by Fitment
12.2.6.4 USA Home Automation Market by Application
12.2.7 Canada
12.2.7.1 Canada Home Automation Market by Component
12.2.7.2 Canada Home Automation Market by Technology
12.2.7.3 Canada Home Automation Market by Fitment
12.2.7.4 Canada Home Automation Market by Application
12.2.8 Mexico
12.2.8.1 Mexico Home Automation Market by Component
12.2.8.2 Mexico Home Automation Market by Technology
12.2.8.3 Mexico Home Automation Market by Fitment
12.2.8.4 Mexico Home Automation Market by Application
12.3 Europe
12.3.1 Eastern Europe
12.3.1.1 Eastern Europe Home Automation Market by Country
12.3.1.2 Eastern Europe Home Automation Market by Component
12.3.1.3 Eastern Europe Home Automation Market by Technology
12.3.1.4 Eastern Europe Home Automation Market by Fitment
12.3.1.5 Eastern Europe Home Automation Market by Application
12.3.1.6 Poland
12.3.1.6.1 Poland Home Automation Market by Component
12.3.1.6.2 Poland Home Automation Market by Technology
12.3.1.6.3 Poland Home Automation Market by Fitment
12.3.1.6.4 Poland Home Automation Market by Application
12.3.1.7 Romania
12.3.1.7.1 Romania Home Automation Market by Component
12.3.1.7.2 Romania Home Automation Market by Technology
12.3.1.7.3 Romania Home Automation Market by Fitment
12.3.1.7.4 Romania Home Automation Market by Application
12.3.1.8 Hungary
12.3.1.8.1 Hungary Home Automation Market by Component
12.3.1.8.2 Hungary Home Automation Market by Technology
12.3.1.8.3 Hungary Home Automation Market by Fitment
12.3.1.8.4 Hungary Home Automation Market by Application
12.3.1.9 Turkey
12.3.1.9.1 Turkey Home Automation Market by Component
12.3.1.9.2 Turkey Home Automation Market by Technology
12.3.1.9.3 Turkey Home Automation Market by Fitment
12.3.1.9.4 Turkey Home Automation Market by Application
12.3.1.10 Rest of Eastern Europe
12.3.1.10.1 Rest of Eastern Europe Home Automation Market by Component
12.3.1.10.2 Rest of Eastern Europe Home Automation Market by Technology
12.3.1.10.3 Rest of Eastern Europe Home Automation Market by Fitment
12.3.1.10.4 Rest of Eastern Europe Home Automation Market by Application
12.3.2 Western Europe
12.3.2.1 Western Europe Home Automation Market by Country
12.3.2.2 Western Europe Home Automation Market by Component
12.3.2.3 Western Europe Home Automation Market by Technology
12.3.2.4 Western Europe Home Automation Market by Fitment
12.3.2.5 Western Europe Home Automation Market by Application
12.3.2.6 Germany
12.3.2.6.1 Germany Home Automation Market by Component
12.3.2.6.2 Germany Home Automation Market by Technology
12.3.2.6.3 Germany Home Automation Market by Fitment
12.3.2.6.4 Germany Home Automation Market by Application
12.3.2.7 France
12.3.2.7.1 France Home Automation Market by Component
12.3.2.7.2 France Home Automation Market by Technology
12.3.2.7.3 France Home Automation Market by Fitment
12.3.2.7.4 France Home Automation Market by Application
12.3.2.8 UK
12.3.2.8.1 UK Home Automation Market by Component
12.3.2.8.2 UK Home Automation Market by Technology
12.3.2.8.3 UK Home Automation Market by Fitment
12.3.2.8.4 UK Home Automation Market by Application
12.3.2.9 Italy
12.3.2.9.1 Italy Home Automation Market by Component
12.3.2.9.2 Italy Home Automation Market by Technology
12.3.2.9.3 Italy Home Automation Market by Fitment
12.3.2.9.4 Italy Home Automation Market by Application
12.3.2.10 Spain
12.3.2.10.1 Spain Home Automation Market by Component
12.3.2.10.2 Spain Home Automation Market by Technology
12.3.2.10.3 Spain Home Automation Market by Fitment
12.3.2.10.4 Spain Home Automation Market by Application
12.3.2.11 Netherlands
12.3.2.11.1 Netherlands Home Automation Market by Component
12.3.2.11.2 Netherlands Home Automation Market by Technology
12.3.2.11.3 Netherlands Home Automation Market by Fitment
12.3.2.11.4 Netherlands Home Automation Market by Application
12.3.2.12 Switzerland
12.3.2.12.1 Switzerland Home Automation Market by Component
12.3.2.12.2 Switzerland Home Automation Market by Technology
12.3.2.12.3 Switzerland Home Automation Market by Fitment
12.3.2.12.4 Switzerland Home Automation Market by Application
12.3.2.13 Austria
12.3.2.13.1 Austria Home Automation Market by Component
12.3.2.13.2 Austria Home Automation Market by Technology
12.3.2.13.3 Austria Home Automation Market by Fitment
12.3.2.13.4 Austria Home Automation Market by Application
12.3.2.14 Rest of Western Europe
12.3.2.14.1 Rest of Western Europe Home Automation Market by Component
12.3.2.14.2 Rest of Western Europe Home Automation Market by Technology
12.3.2.14.3 Rest of Western Europe Home Automation Market by Fitment
12.3.2.14.4 Rest of Western Europe Home Automation Market by Application
12.4 Asia-Pacific
12.4.1 Asia Pacific Home Automation Market by Country
12.4.2 Asia Pacific Home Automation Market by Component
12.4.3 Asia Pacific Home Automation Market by Technology
12.4.4 Asia Pacific Home Automation Market by Fitment
12.4.5 Asia Pacific Home Automation Market by Application
12.4.6 China
12.4.6.1 China Home Automation Market by Component
12.4.6.2 China Home Automation Market by Technology
12.4.6.3 China Home Automation Market by Fitment
12.4.6.4 China Home Automation Market by Application
12.4.7 India
12.4.7.1 India Home Automation Market by Component
12.4.7.2 India Home Automation Market by Technology
12.4.7.3 India Home Automation Market by Fitment
12.4.7.4 India Home Automation Market by Application
12.4.8 Japan
12.4.8.1 Japan Home Automation Market by Component
12.4.8.2 Japan Home Automation Market by Technology
12.4.8.3 Japan Home Automation Market by Fitment
12.4.8.4 Japan Home Automation Market by Application
12.4.9 South Korea
12.4.9.1 South Korea Home Automation Market by Component
12.4.9.2 South Korea Home Automation Market by Technology
12.4.9.3 South Korea Home Automation Market by Fitment
12.4.9.4 South Korea Home Automation Market by Application
12.4.10 Vietnam
12.4.10.1 Vietnam Home Automation Market by Component
12.4.10.2 Vietnam Home Automation Market by Technology
12.4.10.3 Vietnam Home Automation Market by Fitment
12.4.10.4 Vietnam Home Automation Market by Application
12.4.11 Singapore
12.4.11.1 Singapore Home Automation Market by Component
12.4.11.2 Singapore Home Automation Market by Technology
12.4.11.3 Singapore Home Automation Market by Fitment
12.4.11.4 Singapore Home Automation Market by Application
12.4.12 Australia
12.4.12.1 Australia Home Automation Market by Component
12.4.12.2 Australia Home Automation Market by Technology
12.4.12.3 Australia Home Automation Market by Fitment
12.4.12.4 Australia Home Automation Market by Application
12.4.13 Rest of Asia-Pacific
12.4.13.1 Rest of Asia-Pacific Home Automation Market by Component
12.4.13.2 Rest of Asia-Pacific Home Automation Market by Technology
12.4.13.3 Rest of Asia-Pacific Home Automation Market by Fitment
12.4.13.4 Rest of Asia-Pacific Home Automation Market by Application
12.5 Middle East & Africa
12.5.1 Middle East
12.5.1.1 Middle East Home Automation Market by country
12.5.1.2 Middle East Home Automation Market by Component
12.5.1.3 Middle East Home Automation Market by Technology
12.5.1.4 Middle East Home Automation Market by Fitment
12.5.1.5 Middle East Home Automation Market by Application
12.5.1.6 UAE
12.5.1.6.1 UAE Home Automation Market by Component
12.5.1.6.2 UAE Home Automation Market by Technology
12.5.1.6.3 UAE Home Automation Market by Fitment
12.5.1.6.4 UAE Home Automation Market by Application
12.5.1.7 Egypt
12.5.1.7.1 Egypt Home Automation Market by Component
12.5.1.7.2 Egypt Home Automation Market by Technology
12.5.1.7.3 Egypt Home Automation Market by Fitment
12.5.1.7.4 Egypt Home Automation Market by Application
12.5.1.8 Saudi Arabia
12.5.1.8.1 Saudi Arabia Home Automation Market by Component
12.5.1.8.2 Saudi Arabia Home Automation Market by Technology
12.5.1.8.3 Saudi Arabia Home Automation Market by Fitment
12.5.1.8.4 Saudi Arabia Home Automation Market by Application
12.5.1.9 Qatar
12.5.1.9.1 Qatar Home Automation Market by Component
12.5.1.9.2 Qatar Home Automation Market by Technology
12.5.1.9.3 Qatar Home Automation Market by Fitment
12.5.1.9.4 Qatar Home Automation Market by Application
12.5.1.10 Rest of Middle East
12.5.1.10.1 Rest of Middle East Home Automation Market by Component
12.5.1.10.2 Rest of Middle East Home Automation Market by Technology
12.5.1.10.3 Rest of Middle East Home Automation Market by Fitment
12.5.1.10.4 Rest of Middle East Home Automation Market by Application
12.5.2. Africa
12.5.2.1 Africa Home Automation Market by country
12.5.2.2 Africa Home Automation Market by Component
12.5.2.3 Africa Home Automation Market by Technology
12.5.2.4 Africa Home Automation Market by Fitment
12.5.2.5 Africa Home Automation Market by Application
12.5.2.6 Nigeria
12.5.2.6.1 Nigeria Home Automation Market by Component
12.5.2.6.2 Nigeria Home Automation Market by Technology
12.5.2.6.3 Nigeria Home Automation Market by Fitment
12.5.2.6.4 Nigeria Home Automation Market by Application
12.5.2.7 South Africa
12.5.2.7.1 South Africa Home Automation Market by Component
12.5.2.7.2 South Africa Home Automation Market by Technology
12.5.2.7.3 South Africa Home Automation Market by Fitment
12.5.2.7.4 South Africa Home Automation Market by Application
12.5.2.8 Rest of Africa
12.5.2.8.1 Rest of Africa Home Automation Market by Component
12.5.2.8.2 Rest of Africa Home Automation Market by Technology
12.5.2.8.3 Rest of Africa Home Automation Market by Fitment
12.5.2.8.4 Rest of Africa Home Automation Market by Application
12.6. Latin America
12.6.1 Latin America Home Automation Market by country
12.6.2 Latin America Home Automation Market by Component
12.6.3 Latin America Home Automation Market by Technology
12.6.4 Latin America Home Automation Market by Fitment
12.6.5 Latin America Home Automation Market by Application
12.6.6 Brazil
12.6.6.1 Brazil Home Automation Market by Component
12.6.6.2 Brazil Home Automation Market by Technology
12.6.6.3 Brazil Home Automation Market by Fitment
12.6.6.4 Brazil Home Automation Market by Application
12.6.7 Argentina
12.6.7.1 Argentina Home Automation Market by Component
12.6.7.2 Argentina Home Automation Market by Technology
12.6.7.3 Argentina Home Automation Market by Fitment
12.6.7.4 Argentina Home Automation Market by Application
12.6.8 Colombia
12.6.8.1 Colombia Home Automation Market by Component
12.6.8.2 Colombia Home Automation Market by Technology
12.6.8.3 Colombia Home Automation Market by Fitment
12.6.8.4 Colombia Home Automation Market by Application
12.6.9 Rest of Latin America
12.6.9.1 Rest of Latin America Home Automation Market by Component
12.6.9.2 Rest of Latin America Home Automation Market by Technology
12.6.9.3 Rest of Latin America Home Automation Market by Fitment
12.6.9.4 Rest of Latin America Home Automation Market by Application
13 Company Profile
13.1 ABB Ltd.
13.1.1 Company Overview
13.1.2 Financials
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Control4 Corporation
13.2.1 Company Overview
13.2.2 Financials
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Crestron Electronics, Inc.
13.3.1 Company Overview
13.3.2 Financials
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Honeywell International, Inc.
13.4 Company Overview
13.4.2 Financials
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Ingersoll-Rand plc.
13.5.1 Company Overview
13.5.2 Financials
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Johnson Controls
13.6.1 Company Overview
13.6.2 Financials
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Legrand SA
13.7.1 Company Overview
13.7.2 Financials
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Leviton Manufacturing Company, Inc.
13.8.1 Company Overview
13.8.2 Financials
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Lutron Electronics Co., Inc.,
13.9.1 Company Overview
13.9.2 Financials
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Schneider Electric
13.10.1 Company Overview
13.10.2 Financials
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
13.11 Siemens AG
13.11.1 Company Overview
13.11.2 Financials
13.11.3 Products/ Services Offered
13.11.4 SWOT Analysis
13.11.5 The SNS View
14. Competitive Landscape
14.1 Competitive Bench marking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. USE Cases and Best Practices
16. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Network Attached Storage Market size was valued at USD 30.94 billion in 2022 and is expected to grow to USD 129.53 billion by 2030 and grow at a CAGR of 19.6% over the forecast period of 2023-2030.
The Carbon Accounting Software Market Size was estimated at USD 12.5 billion in 2022, and it is anticipated to reach USD 65.06 billion by 2030, growing at a CAGR of 22.9% over the forecast period of 2023–2030.
The Biometric Payment Market size was USD 0.096 billion in 2022 and is expected to Reach USD 4.66 billion by 2030 and grow at a CAGR of 62.5 % over the forecast period of 2023-2030.
The Human Resource (HR) Technology Market size was valued at USD 24.89 billion in 2022 and is expected to grow to USD 43.40 billion by 2030 and grow at a CAGR of 7.2 % over the forecast period of 2023-2030.
The Digital Signage Market size was valued at USD 24.95 billion in 2022 and is expected to grow to USD 45.97 billion By 2030 and grow at a CAGR of 7.94% over the forecast period of 2023-2030.
The Small Cell 5G Network Market size was valued at USD 2.73 billion in 2023 and is expected to grow to USD 214.79 billion by 2031 and grow at a CAGR of 72.6% over the forecast period of 2024-2031
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