Europe Smart Home Market Forecast 2020 – 2027 – Top Key Players Analysis
The GMI Research report provides an overall outlook of the industry through a detailed market segmentation. The report offers thorough information related to the overview and scope of the market, including the market drivers, restraints and emerging trends in the industry. This report is especially designed to include both qualitative and quantitative aspects of the industry in each country participating in the study.
Competitive Rivalry of the Europe Smart Home Market:
The leading players in the Europe smart home market include Schneider Electric SE, Siemens AG, Honeywell International Inc., Ingersoll-Rand PLC, Legrand S.A., ABB Group, Samsung Electronics Co., and Google, LLC, among others.
Drivers of the Europe Smart Home Market:
The primary factors surging the growth of the Europe smart home market include increasing government support for the development of the smart home and increasing demand for energy-efficient home automation solutions by the consumers to decrease their carbon footprint. The rising number of internet users, growing disposable income of people in developing countries, the increasing importance of home monitoring in remote locations, and the growing requirement for energy-saving & low carbon emission-oriented solutions are some other factors fuelling the market growth. Furthermore, the rapid proliferation of smartphones & smart gadgets, the development of smart home product portfolio by many players, and increasing concern about security, safety, and convenience among the general population will propel the demand for smart home solutions.
Based on region, Germany is expected to grow at a higher CAGR during the forecast period due to the rising number of millionaires and the incidence of high spending consumers. In addition to this, the increasing penetration of smart surveillance cameras, smartphones, and wearable activity trackers are factors accelerating the growth of the smart home market in this region. The market for HVAC control systems is anticipated to witness significant growth in the region driven by the availability of technologically advance and wi-fi enabled HVAC systems, coupled with robust energy distribution network in European economies.
Market Segmentation:
The main objective of the study is to define market sizes of the different market segments & countries during the forecast period and analyze the values in the next six years. The detailed segments and sub-segments of the market are explained below:
Breakup by Application:
- Lighting Controls
- Security and Access Control
- HVAC Control
- Home Healthcare
- Home Appliances
- Entertainment and Others
Breakup by Countries:
- Germany
- UK
- France
- Others
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