The global demand for Smart Home Services Market is presumed to reach the market size of nearly USD 14.77 MN by 2028 from USD 6.6 MN in 2021 with a CAGR of 12.2% under the study period 2022 - 2028.
The term smart home services are defined as applications of technical systems, automated procedures, and remote-controlled devices in homes and flats. End-to-end repairs are an integral part of smart home services, where smart device owners can contact & communicate with external service providers & installers to install & operate IoT solutions, as well as IoT planning or consultation. Smart home services are the special services that install, update, maintain, and program smart home equipment. This business approach employs advanced technological innovations such as IoT and AI & includes connected devices, sensors, and cloud intelligence.
The demand for smart home services is fueled by rising energy utility cost concerns, increasing usage of smart appliances in houses & increasing concerns regarding monitoring and security. Additionally, the extensive use of smart gadgets in homes will flourish market growth over the projected period. The worldwide usage of smart fans, outlets, lights, and smart air conditioners will increase the demand for smart home services. The market for smart home services is also enlarging due to robust advancements in IT and the availability of high-speed internet connectivity. The sector is thriving as the rising demand for the installation & maintenance of smart home devices. Furthermore, the integration and incorporation of automation technologies such as IoT devices and artificial intelligence in the smart home network have opened up new opportunities for the smart home services market.
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 services. The growth and trends of smart home services industry provide a holistic approach to this study.
This section of the smart home services 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.
- IoT Services For Control & Connectivity Devices
- IoT Services For Security & Surveillance Equipment
- IoT Services For Smart Appliances
This section covers the regional outlook, which accentuates current and future demand for the Smart Home Services 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 Services 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 services market include Johnson Controls Inc., Lumen Technologies Inc., Comcast Corporation, Telus Corporation, Vivint Inc., ADT Inc., Charter Communications Inc., Trane Technologies plc, Rexel SA, Calix Inc. 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.
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