Report Id: SNS/SEMI/2592 | July 2022 | Region: Global | 129 Pages
Report Scope & Overview:
The Smart Home and Office Market Size was valued at USD 67.75 billion in 2022 and is expected to reach USD 186.61 billion by 2030, and grow at a CAGR of 13.5% over the forecast period 2023-2030. Smart home and office devices are in high demand because they promise to win and develop the user's trust, reliability, safety, and security as a trending concept, as well as to improve the overall look and vibe of the location where the market services and devices are used and installed. Furthermore, the population of the developed economies operating on a global scale is witnessing an increase in income, which is converting them into target audience due to the developed interest in the market's devices and services. The industry struggled at first, but changing market preferences have resulted in a shift in customer taste and preference toward automated products that derive and implement the best use of technology, thereby empowering customers and assisting the market to expand its size during the current forecast period, which ends in 2028.
MARKET DYNAMICS:
KEY DRIVERS:
Ownership of internet-enabled smart devices is increasing.
Growing demand for energy-efficient buildings.
RESTRAINTS:
device malfunction and Risk of data breach.
Costly switching and installation.
OPPORTUNITIES:
Government regulations that favour green building initiatives.
5G technology integration.
CHALLENGES:
Lack of technical expertise and infrastructure in developing countries.
IMPACT OF COVID-19:
In the smart home industry, the global market has experienced a significant decline of 5-8% in the sales quantum for the fiscal year, which is largely dependent on the positive rate of disease transmission, thus infecting people on a large scale, as a result of the pandemic's trends and preferences. The impact has harmed the supply chain mechanism of the global market and has harmed countries in the APAC region such as India and China. There will be no new construction processes, and the temporary lockdown governing the manufacturing and production units is exacerbating the situation. The pandemic's impact is only temporary. The major rapidly expanding regions around the world, such as North America and Asia Pacific, are expected to see a good growth graph for smart home and office market services and expansion in the upcoming period of 2022-2028. Rising investments are likely to limit the limited adoption of smart home and office systems by introducing features that benefit the target audience in terms of ease and convenience. Governments from all over the world are also interfering by increasing their investment and rolling out schemes to support these markets and their offerings for global growth during the period ending in 2028.
Based on Product, the smart home and office market is segmented into Lighting Controls, Hvac Controls, Surveillance Products, and Access Controls. Based on standard, the smart home and office market is segmented into Wi Fi and Infrared, En Ocean, Bac Net, Z Wave, Zigbee, Dali, and Knx.
COMPETITIVE LANDSCAPE:
The key players in the smart home and office market are Johnson Controls International, United Technologies Corporation, Schneider Electric, Robert Bosch GmbH, Sony Corporation, Siemens, Honeywell, Samsung Electronics, Legrand SA, and Eaton Corporation PLC.
MARKET SEGMENT:
BY PRODUCT
Lighting Controls
Hvac Controls
Surveillance Products
Access Controls
BY STANDARD
Wi Fi And Infrared
En Ocean
Bac Net
Z Wave
Zigbee
Dali
Knx
REGIONAL ANALYSIS:
Based on demand from various global regions, the smart home and office market share is expected to grow the most rapidly in the APAC region, with the highest CAGR. The smart home and office market is seeing the emergence of factors such as strong economic growth and presence, a significant increase in population, and people's desire to live a better life and experience an improved standard of living. Furthermore, rapid urbanisation across various regional markets under the global market tag is assisting the region to compete and perform well in the international market during the forecast period.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Report Attributes | Details |
---|---|
Market Size in 2022 | US$ 67.75 Billion |
Market Size by 2030 | US$ 186.61 Billion |
CAGR | CAGR of 13.5% 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 Product (Lighting Controls, Hvac Controls, Surveillance Products, Access Controls) • By Standard (Wi Fi And Infrared, En Ocean, Bac Net, Z Wave, Zigbee, Dali, Knx) |
Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Company Profiles | Johnson Controls International, United Technologies Corporation, Schneider Electric, Robert Bosch GmbH, Sony Corporation, Siemens, Honeywell, Samsung Electronics, Legrand SA, and Eaton Corporation PLC. |
Key Drivers | • Ownership of internet-enabled smart devices is increasing. • Growing demand for energy-efficient buildings. |
RESTRAINTS | • Device malfunction and Risk of data breach. • Costly switching and installation. |
Frequently Asked Questions (FAQ) :
The market value is expected to reach USD 144 billion by 2028.
device malfunction and Risk of data breach, Costly switching and installation.
The key players in the smart home and office market are Johnson Controls International, United Technologies Corporation, Schneider Electric, Robert Bosch GmbH, Sony Corporation, Siemens, Honeywell, Samsung Electronics, Legrand SA, and Eaton Corporation PLC.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Content:
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 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Smart Home and Office Market Segmentation, by product
8.1Introduction
8.2 Lighting Controls
8.3 Hvac Controls
8.4 Surveillance Products
8.5 Access Controls
9. Smart Home and Office Market Segmentation, by standard
9.1Introduction
9.2 Wi Fi and Infrared
9.3 En Ocean
9.4 Bac Net
9.5 Z Wave
9.6 Zigbee
9.7 Dali
9.8 Knx
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 USA
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4 Asia-Pacific
10.4.1 Japan
10.4.2 South Korea
10.4.3 China
10.4.4 India
10.4.5 Australia
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.1 Israel
10.5.2 UAE
10.5.3 South Africa
10.5.4 Rest
10.6 Latin America
10.6.1 Brazil
10.6.2 Argentina
10.6.3 Rest of Latin America
11.Company Profiles
11.1 Samsung Electronics
11.1.1 Financial
11.1.2 Products/ Services Offered
11.1.3 SWOT Analysis
11.1.4 The SNS view
11.2 Johnson Controls International
11.3 United Technologies Corporation
11.4 Schneider Electric
11.5 Robert Bosch GmbH
11.6 Sony Corporation
11.7 Siemens
11.8 Honeywell
11.9 Legrand SA
11.10 Eaton Corporation PLC
12.Competitive Landscape
12.1 Competitive Benchmark
12.2 Market Share analysis
12.3 Recent Developments
13.Conclusion
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