Smart Home Device & Tech Usage Data Reports & Analysis

Table of Content

• Market Synopsis
• Leading Companies to Know in 2022
• Flume 2 Smart Home Water Monitor Review
• Flo by Moen Smart Water Shutoff
• Integrating Smart Home and Entertainment Services
• Smart Homes & Buildings Coverage
• North America dominated other regional markets in terms of revenue share in the global smart home market in 2020

Rapid urbanization, improving standards of living, and increasing disposable income among consumers is driving demand for and deployment of smart home technologies. Increasing penetration of smartphones and smart devices is expected to further drive growth of the smart home market in the region. Rising popularity of Artificial Intelligence assistants such as Siri and Alexa in countries in the region is another key factor boosting utilization of smart home technology.

The above data points provided are only related to the companies' focus related to smart home market. The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. The growing need for energy-saving and low-carbon-emission-oriented solutions propels the global smart home market. There has been a growing demand to reduce energy usage and carbon emissions as a result of rising global warming and regulatory regulations. Smart homes account for a significant percentage of the world's total energy consumption.

Market Synopsis

As a result of these key market trends, metro and edge networks are being asked to meet the ever-increasing demand. In order to become more efficient and reduce energy consumption, the network must obviously evolve according to consumer demand. The Europe smart home industry is expected to grow at a CAGR of around 25% over the forecast period from 2022 to 2030. This stronghold and growth can be attributed to the presence of key market players in the region, including ABB, Legrand, Schneider Electric SE, Siemens, Robert Bosch GmbH, and others.

The launch of new products with improved capabilities is favoring the market growth. Manufacturers have been focusing on developing new products for specific applications as there are varying demands based on the utilization and application of the devices. Extensive research and interviews are conducted in the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts in the smart home market. Major suppliers of smart homes are ADT Corporation, Honeywell International Inc., Control4, Philips, Siemens, and others. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies smart home companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base.

Leading Companies to Know in 2022

ABB Ltd., Schneider Electric SE, Honeywell International Inc., Emerson Electric Co., Siemens AG are the major companies operating in Smart Homes Market. If the buildings maintain a relative humidity of 40%-60% inside, this will decrease the virus's ability to infect occupants. If the HVAC system incorporates makeup air, it also will increase ventilation, thus creating an even more healthy environment. The aim is to extend coverage to previously underserved rural areas across the United States.

The ultra-small and discreet device includes a range of functions, including built-in fall detection, real-time activity monitoring, two-way voice capabilities, and panic detection to alert guardians and caregivers in case of emergency. For consumers that have adopted connected devices, we are seeing dramatic overlap with the wearable market. The Wyze outdoor model also features Bluetooth connectivity, unlike its indoor counterpart, which could cause its results to vary slightly. The Powrui model was tested for data privacy and data security because we did not evaluate a corresponding indoor model.

Flume 2 Smart Home Water Monitor Review

To the right of this panel is a Water Status panel that tells you if your water is running or not. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. Moreover, a smart thermostat in the USA costs around $250 whereas the traditional thermostat cost around $25. A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.

77 billion in 2020 to $60.37 billion in 2021 at a compound annual growth rate of 10.2%. They enhance consumer comfort, safety and efficiency and when integrated, work to ensure the device itself can perform most effectively over long periods of time. Sensors and sensing systems are changing the way consumers interact with the environment, both inside and outside of their homes. North America accounted for largest revenue share in the smart home market in 2020. In December 2020, Signify, which is the world leader in lighting, entered into a strategic partnership with Honeywell, which is a global leader in connected buildings.

Flo by Moen Smart Water Shutoff

Their adaptability makes them a suitable choice for customers who believe they may need to reposition the cameras in the future. Along with increased utility bills, undetected water leaks can lead to thousands of dollars of damage to your home if not caught in time. Simply strap it on to your water meter and download the app to see how much water you're using and if there are any leaks. It won’t automatically shut the water off like our Editors’ Choice, the $499.99 Flo by Moen Smart Water Shutoff, nor does it interact with as many smart home devices, but it’s significantly less expensive and much easier to install. 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.

The aim of this report is to provide deeper insight into aspects of the environmental sensors industry including smart home devices and health & wellness applications. Its aim is to build on Strategy Analytics’ previously published reports on Environmental Sensors including Vendor Profiles and Consumer Perceptions from the UXIP research team and market size forecasts from SA’s Smart Home research team. From self-driving cars to smart homes, systems are increasingly making decisions based on the environment around them. A sensor is a component that uses modern wireless technology to perceive its surroundings and transmit real-time data.

These major players with a prominent share are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market shares and profitability. As the smart home market continues to grow there still remains some speculation over which devices and systems will proliferate the most and why. While product developers are challenged on issues related to connectivity, installation, interoperability and cybersecurity, smart home technologies can offer tremendous economic gains if you know where and how best to seize them. Data collection and base year analysis are done using data collection modules with large sample sizes.

With these essential guides in hand, brands can identify innovation and marketing opportunity spaces within the smart home ecosphere. Because of the advantages gained by connecting household items to the internet, the Internet of Things has grown in popularity among residential users. The Internet of Things connects items, software algorithms, services, and end users, allowing data to flow freely and real-time decisions to be made. It has proven to be effective in improving the quality and consistency of automation systems.

As 52% of Americans are concerned that a package may be stolen during the holidays, 23% of those polled in 2020 by C+R Research indicated they would install a doorbell or surveillance camera to avoid theft. Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.