Smart Home is an integration of various technologies & services through a network/system for better quality of living. This emerging technology helps the users for reducing the workload and much more. The smart home offers users a comfortable life, security, energy management functions and benefits for the disabled. Smart homes are generally equipped with internet-enabled devices to control or monitor, automate and optimize several functions for instance temperature, security, lighting and entertainment. These devices are remotely controlled or monitored, and accessed by a phone, tablet, computer, or a separate system. Smart technologies used to connect various gadgets & accessories have made it probable to automatically control the conditions in the building.
Smart home perform various basic
functions including dimming lights, turning off lights, and closing curtains.
These types of homes are capable of performing complex functions for instance
automatically lighting-up exit routes in the event of the fire alarm.
Connectivity has proven to be a high-end innovation in a large variety of home
devices such as thermostats, utility meters, security cameras and others. In
the next few years, connectivity is likely to become ubiquitous trend, becoming
virtually an embedded standard in all devices and home computers.
As per 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)” the key companies operating in the
Europe smart homes technology market include Cisco Systems, Inc., ABB Limited,
Deutsche Telekom AG, ASSA ABLOY, Emerson Electric Co, Siemens AG, Samsung
Electronics Ltd, General Electric Company, Honeywell International Inc.,
Schneider Electric S.E., IBM Corporation, United Technologies Corporation and
among others. These players represent a significant share of the global market
due to their industry experience, large product portfolio, global revenue base
and global distribution network.
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On the basis of product type, Europe
smart homes technology market can be bifurcated as Heating, Ventilating, Air
Conditioning (HVAC), smart lighting systems, safety & security, smart energy
management, home entertainment, smart appliances and others. HVAC segment
dominates the global market owing to availability of technologically advance
& Wi-Fi enabled HVAC systems and robust energy distribution network. On the
basis of technology, market can be bifurcated as wired smart technology,
wireless smart technology. Wired smart technology includes fiber to home
technology, Ethernet technology, power line communication and other wired
technologies. Wireless smart technology includes Bluetooth technology, Z-wave
technology, zigbee technology, Wi-Fi technology and others. Additionally, on
the basis of end-users, market can be bifurcated as commercial end-users and
residential end-users. Commercial end-users include smart hospitals, smart
hotels and other commercial buildings. In addition, residential end-users
include assisted homes, luxury homes, low energy homes and mid-range
apartments/homes.
Growth in importance of home monitoring
in remote locations, followed by increase in number of manufacturers expanding
their smart home product portfolios, rise in awareness among people about their
security, safety, and convenience, growth in popularity of smart security
system, rise in need for energy saving & low-carbon emission-oriented
solutions and growth in proliferation of smartphones & smart gadgets are
some major factors, which are responsible for growth of the Europe
Smart Homes Technology Market. Apart from this, high switching costs
for existing smart device consumers and high initial costs may impact the
market. Moreover, restoring independence for elders and smart health solutions,
growth for telecom operators and growth in scope for insurance companies are
leading opportunities for market.
By country-wise analysis, Germany is a
leading country in Europe smart home market due to presence of high spending
consumers and growth in number of millionaires across the region. Additionally,
growth in penetration of smart surveillance cameras, smartphones, and wearable
activity trackers are expected to improve the growth of the smart home market
in Germany country. The UK market is estimated to be the fastest growing smart
home market over the forecast period. It is also projected that future of the
global Europe smart homes technology market will be bright as a result of
growth in adoption of smart home technologies to increase energy efficiency
& minimize energy bills, rise in disposable income and growth in adoption
of new technologies during the forecast period.
For More Information, refer to below link:-
Europe
Smart Homes Technology Market Research Report
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