Global Smart Home Automation Market Overview:
Smart Home Automation is a set of solutions that is engraved in a home Wi-Fi network so the in-activities can be controlled and monitored through smart devices using a smartphone and a mobile application. Smart Home Automation in a smart home consists of automotive products such as surveillance camera, testing, smart kitchen and fire detection, and other commercial vision applications. Additionally, smart home automation includes locks and sensors, alarms, monitoring devices, and detectors cameras. Smart Hub or smart control panel plays a key role in the Smart Home Automation set.
- Advancement in Technology and Enhanced Security Options
- Growing Demand for Technology Advanced Product for Home Applications
- High Installation Cost is Required to Deploy Smart Home Automation
- Growing Impact of Wireless Technology Boosts the Smart Home Automation Market.
- Low Awareness Among Various Consumer
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Honeywell International Inc. (United States), Legrand SA (France), ABB Ltd (Switzerland), Lutron Electronics Co., Inc. (United States), Crestron Electronics, Inc. (United States), Siemens AG (Germany), Leviton Manufacturing Company, Inc. (United States), Johnson Controls (United States), Schneider Electric (France) and Control4 Corporation (United States). Additionally, following companies can also be profiled that are part of our coverage like Vizago, Home Control, AZ Home, Automatize Residências Inteligentes and Starvai. Analyst at AMA Research see United States Players to retain maximum share of Global Smart Home Automation market by 2025. Considering Market by Technology, the sub-segment i.e. Cellular will boost the Smart Home Automation market. Considering Market by Component, the sub-segment i.e. Hardware will boost the Smart Home Automation market.
Latest Market Insights:
In November 2019, Germany industrial giant Siemens has announced a deal to acquire US startup Pixeom for an undisclosed fee, in a move to boost its industrial automation, digitalization division and smart home automation.
In September 2019, Control4 Corp. (US) launched Smart Home OS 3 software with Google Assistant voice control and expanded integration with third party doorbells.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Smart Home Automation market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Smart Home Automation market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Association & Industrial Bodies, Software Provider, Professional Service Provider, Government & Research Organisation IT Companies, Cloud service Providers, System Integrator, Reseller & Distributors and Investors & Venture Capitalists.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.