A smart home is a suitable home system where appliances and devices can be controlled remotely from any internet-connected place around the globe utilizing the smartphone or any other networked devices. The smart home system demands an interface application of web portal to cooperate with automated system. The growth of smart homes market is commonly propelled by aspects, such as perpetually increasing internet users, augmented implementation of smart devices, awareness of fit and healthy lifestyles, and growing sense of home safety and protection.
According
to the report analysis, ‘Europe
Smart Homes Technology Market: Insights and Forecast, 2019-2025: Emphasis on
Application (Safety and Security, Smart Appliances, Heating Ventilating, Air
Conditioning (HVAC), Home Entertainment, Smart Lighting Systems, Smart Energy
Management), Technology (Wireless and Wired Smart Home Technology), End-Users (Residential
and Commercials End-Users)’ states
that the proliferation and smartening of IoT devices have curiously scaled up
the probable for the industry. Momentous amount of data or information can be
stored, composed, analyzed and transmitted leading to the saving of substantial
amount of money by frequent companies.
Based
on the end users, the Europe smart home market is categorized into residential
and commercial end users. During the recent past years, the smart home
technology was more applicable among residential end users. The segment
registered the smart home market at regional scale and is estimated to manage
its dominance throughout the analyzed duration. Furthermore, relying on
residential end users and type, the market is further categorized into luxury
homes, mid-range apartments, assisted homes and low energy homes. During the
recent past years, the mid-range apartments occupied the greatest share
followed by luxury apartments and luxury villas in the regional smart home
market. Increasing investments by foremost tech giants and venture capitalists
to bring in modernization within smart home domain has enormously contributed
towards the growth prospects of smart home technology in the region. Not only
has this, advantages of smart home technology can also be observed among
commercial end users such as hotels, hospitals and other commercial buildings.
In the smart home industry, technological breakthroughs have been efficacious
in bringing about new shapes to the industry. The Smart home technology
application was majorly protruding among hospitals.
Moreover,
robust competitiveness, flourishing IoT, spur in product development, research
& development activities, dramatic uptake of technological improvements,
growing scope of smart health solutions & ageing population, investments by
foremost peers, spur in smartphone penetration and growing preference for
energy management systems and favorable government policies have suggestively
contributed in prospering the market size of Europe smart home market at great
scale. However, low level of awareness among customers about smart home
devices, concerns concerning privacy & hacking, high cost comprised in
complex installation and high prices of smart home devices require to be
addressed to experience the never-ending growth of smart home market.
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Major
players in this market comprise ABB Ltd, Assa Abbloy, Cisco Systems Inc.,
Deutsche Telekom AG, Emerson Electric Co., General Electric Company, Samsung
Electronics Ltd, Honeywell International Inc., IBM Corporation, Schneider
Electric S.E., and Siemens AG and United Technologies Corporation and others.
These players in the Europe Smart Homes Technology Market for being competitive
are improving the qualitative and quantitative measures of such, spreading the
awareness connected to the applications and advantages of smart homes
technology, implementing the policies of profit making and strategies of
expansion, increasing the benefits and features of smart homes technology,
analysing the strategies and policies of government as well as contenders,
delivering the better customer satisfaction, decreasing the linked prices of
such and establishing the several research and development programs.
Also,
for better understanding of regional smart home market penetration, the market
has been analyzed as per dissimilar countries such as Germany, the UK, France,
and Norway, the Netherlands, Switzerland, Denmark and the rest of Europe. Based
on the prediction, Germany was registered for the highest revenue share during
2018. Positive impression on businesses of smart device manufacturers such as
HVAC and several established players and startups earmarking their footprint in
smart appliances domain varying from remote controlled heating appliances and
increasing interest for energy saving applications such as thermostats and
prosperous concept of Internet of Things have bolstered the growth of Europe
smart home technology market. Several companies have forayed in the European
smart home technology market that proposes the smart devices in dissimilar
applications such as smart speaker, security systems, smart TVs, LEDs and
switches, kitchen ware appliances and several other devices. With an aim to
improve their product portfolio, the major market players have entered into
several acquisitions and collaborations.
For
More Information, refer to below link:-
Europe
Smart Homes Technology Market Growth
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