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(IT-NEWSWIRE.COM, October 22, 2019 ) Market Overview:
Due to the rise in internet penetration coupled with the increase in adoption of smart devices all around the world will grow the market for the Smart Home in the forecast period.
Smart Home constitutes of networked devices, and related services enable home automation. Considered are devices that are connected directly or indirectly via a so-called gateway to the Internet. Their main purposes are the control, monitoring and regulation of functions in a household.
Market Dynamics:
The Smart Home Market is primarily driven by a rise in internet penetration coupled with the increase in the use of smart devices all around the world. With increasing internet penetration across globe. The major factor for the growth of home automation is the sustainability of the resource, which is provided by the connected smart devices which help in controlling and monitoring of the home systems.
The growing construction of smart cities all around the globe is the other reason for the smart home market to have a positive impact in the coming years. Rising smart cities account for the increase in the adoption of technologies like IoT, AI and others.Smart cities are generally made up of smart buildings: homes, industry and office spaces where smart IoT devices can communicate with each other and the users to streamline how these spaces are used.
However, the high initial cost and the lack of standardization of the devices is hampering the growth of the Smart Home Market for the forecast period.
Market Segmentation:
By Product, the Smart Home Market segmented into Security& safetySystem, Energy resource management, HVAC Control, Lighting Systems, Media entertainment control, and Others. By Product for Security & safety systems has the dominant position in the Smart Home Market and is expected to retain its dominance in the forecasted period, due to rising security concerns al around the globe. However, due to the rise in the energy-efficient systems the lighting systems will grow with a higher rate in the forecast period.
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Geographical Analysis:
Geographically, the market is divided into North America, Europe, South America, Asia-Pacific and the Middle East and Africa.
North America holds the largest market share for Smart Home Market, due to large disposable income coupled with the easy adaptation of new technologies by the people in the region.The rise in sales of the smart home devices like smart speaker and fitness devices in the region is the other region for the growth, and most of the people own speaker.
Europe is after North America in terms of market share for Smart Home due to the rising popularity of the smart security systems. Rising security concernsat less densely populated areas which make it compulsory for the detached and semi-detached houses to have smart security or monitored alarm systems to be installed and hence it has led to more sales of smart security systems in the regions.
Competitive Analysis:
The major players include Honeywell International, Siemens AG, Johnson Controls International, Schneider Electric SE, and United Technologies Corporation. Other key players in the market include Amazon Inc., Apple Inc., Google, ADT, Robert Bosch GmbH, Assa Abloy, Legrand SA, ABB Ltd., Ingersoll-Rand PLC, Comcast Corporation, Hubbell Inc., Vivint.
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Sai Kiran
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Email: pr@datamintelligence.com
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DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com 
Source: EmailWire.com
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