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Global Smart Home Market Worth $121.73B by 2022
May 17, 2016 | Business WireEstimated reading time: Less than a minute
Research and Markets has announced the addition of the "Smart Home Market by Product, Software & Service, and Geography - Global Forecast to 2022"report to their offering.
The global smart home market is expected to grow from USD 46.97 Billion in 2015 to USD 121.73 Billion by 2022, at a CAGR of 14.07% between 2016 and 2022.
The smart home market has been classified on the basis of products into lighting control, security & access control, HVAC control, entertainment & controls, home healthcare, and smart kitchen. The market has been segmented on the basis of software and service into behavioral and proactive solutions.
The market on the basis of geography has been segmented into North America, Europe, APAC, and RoW. The growth of this market is expected to be high considering the increasing demand for lighting, entertainment controls, and home healthcare. Also, considering the convenience benefits and real-time energy consumption feedback achieved using proactive solutions, the installation rate of smart home systems is expected to increase during the forecast period.
The market breakdown and data triangulation procedure has been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.
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