The global demand for Smart Home Hardware Market is presumed to reach the market size of nearly USD 75.3 BN by 2028 from USD 31.81 BN in 2021 with a CAGR of 13.1% under the study period 2022 - 2028.
Smart home hardware serves as the core of the smart home system, processing and sensing data and interacting wirelessly. It is an electronic gadget that can connect to other devices and make judgments on command when linked to smart home systems. The smart home hardware stores information in the cloud and operates through the user's command. Appliances like televisions, alarm systems, doorbells, speakers, etc. are examples of these gadgets. Smart home hardware provides various advantages, including managing all devices from a single location, improving home security, boosting energy effectiveness, and providing a controller for all tasks.
Market Dynamics
The increasing use of smart home devices and the growing necessity of home monitoring systems drive the need for smart home hardware. Other factors boosting market demand include increased network coverage and the growing usage of smartphones to operate smart devices remotely. The increasing use of Internet of Things solutions that provide energy-saving features at home is boosting the market for smart home hardware. The expanding number of computer hackers in high-end interconnected technology, as well as increased security issues, are hampering the product's market growth.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of smart home hardware. The growth and trends of smart home hardware industry provide a holistic approach to this study.
Market Segmentation
This section of the smart home hardware market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- IoT Hardware For Control & Connectivity Devices
- IoT Hardware For Security & Surveillance Equipment
- IoT Hardware For Smart Appliances
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Smart Home Hardware market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Smart Home Hardware Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the smart home hardware market include Google LLC, Amazon.Com Inc., Honeywell Corporation Inc., Schneider Electric SE, Johnson Control Inc., ABB Ltd., Legrand, Panasonic Corporation, Samsung Electronics Co. Ltd., and General Electric Company. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.
