Connected Home Devices Market Forecast, 2019–2027

1. We use cookies for a better user experience. Read our Privacy Policy I Agree Search report Keywords Home / Electronics and Semiconductors / Semiconductor / Connected Home Devices Market Connected Home Devices Market Rep Id : TMRGL70014 Connected Home Devices Market (Product: Lighting (Bulbs, Fixtures), Entertainment (Speakers, Television, Others), July 2019 Security Systems (Security Cameras, Locks, Alarm Systems), Smart Thermostats, and Others; and Technology: Device-based, Mobile-based, and Hybrid) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019– Electronics and Semiconductors 2027 172 Pages Report Preview Table of Content Transparency Plus Request FREE Sample Connected Home Devices Market: Consumer Reliance on Smart Devices for Home Automation to Stir Innovation Select License Type Modern consumers are placing major emphasis on life improvements, and creating an intelligent ecosystem that allows them to ease everyday tasks and achieve efficiency. Connected home Single User license $5795 devices, along with smart home integration, are becoming vital factors influencing the purchase decisions of new home buyers. Presently, huge growth is being witnessed in products and Multi-User license $8795 systems designed to enhance and change the way consumers live their lives inside their homes. Corporate license $11795 The demand for such devices is increasing like never before, as they are being incorporated and standardized in future homes. Buy Now A recent report published by Transparency Market Research (TMR) on the connected home Safe and Secure SSL Encrypted devices market, highlights the key aspects pertaining to the industry that are likely to drive market Get A Special pricing for start-ups and universities. growth in the coming years. According to TMR’s report, the connected homes devices market is expected to expand at a CAGR of ~ 12%. The growth of the market is driven by the rising Request Discount

2. penetration of next-gen technologies in devices that enable superior connectivity and performance enhancement. - Need More Info? - Enquiry Before Buying Request Methodology Ask References Free Customization - Want to customize this report? - We employ Market Analysis, Benchmarking, Corporate Intelligence, and Technological understand specific requirements and customize report with a quick turnaround time in a dynamic business environment. Intelligence to We offer 100% Free Customisation at the time of purchase Planning to lay down future strategy? Perfect your plan with our report brochure here Mapping the Evolutionary Path of the Connected Home Devices Market Connect To Analyst Initially, smart homes was an idea, and not an actual implementation. While technological advancements continued at a slow pace, science fiction explored the idea of home automation through its mention in certain stories. The timeline of home automation marks the spawn of - Trusted Partners - connected home devices that revolutionized the experience of living in modern homes. For early adopters, the idea of a completely operational connected home has been a techie dream, which was intangible until the past few years. While the birth of the Internet of Things (IoT) marked the dawn of the connected era, connected homes were envisioned through the ages.

3. The 1890s witnessed the development of remote controls, while home appliances made headway Quick Contact 866-552-3453 between the 1901 and 1920. Around 1966, the world witnessed a revolutionary discovery in the form of ECHO IV, a home automation machine. It was designed to control a home's temperature, +1-518-618-1030 compute shopping lists, and turn appliances on or off, although its main drawback was its large Contact by email size. The epoch of automation was then felt in 2010 and beyond, as companies continued to launch technologically-enhanced connective home devices. Banking on the increasing acceptance of these gadgets, the connected home devices market is expected to witness sales of ~ 240 Why trust Us? million units, globally, in 2019. 5 Million+ Market Data Want to know the obstructions to your company’s growth in future? Request a PDF sample here Impact of Undercurrents AI to Redefine the Connected Home Experience - Related Reports - Artificial Intelligence (AI) is laying the ground for extraordinary possibilities across a plethora of end-use industries. Similar transformations driven by AI are also witnessed across the connected Inductor Market home devices landscape. Connected home devices augmented with AI offer superior traceability Half-Inch CIS Based Surveillance Camera Market and convenience to enhance the way consumers deal with their daily chores, thereby redefining the connected home experience. Conventional and Rapid Prototyping Market POP Display Market Popularity of Smart Entertainment Devices to Act as Catalyst for Growth Flexible Substrate Market While connected home devices gain impetus on account of the increasing significance given to consumer convenience in homes, smart home entertainment devices continue to gain popularity. Among these, video entertainment devices are likely to grab a major share, with the consistently growing demand for seamless entertainment in the form of streaming media. Building on Cloud Technology Companies operating in the connected home devices market are building on cloud technology to develop next-gen products that offer seamless integration to modern tech-savvy consumers. As cloud computing enables users to obtain real-time information, directly through web browsers, it remains a sought-after factor to push the adoption of connected home devices. Connected Home Devices Alluring Hackers

4. Although the growth of IoT devices coupled with the evolution of digital technologies continues, connected home device manufacturers have been unsuccessful in producing reliable and secure products. Security threats continue to pertain, as consumers, while purchasing new homes, prefer homes integrated with connected home devices. This has led to the likelihood of hand-me-down security vulnerabilities, thereby posing a threat to the market for connected home devices. Looking for exclusive market insights from business experts? Request a Custom Report here Strategies Driving the Progress of Connected Home Device Providers NPD with Voice Control Technology Integration As technological advancements are picking pace, connected home device providers are able to enhance the capabilities of their offerings to meet the transforming requirements of contemporary

5. consumers. Ease of operability in controlling home appliances achieved with voice control technology has centered competitors’ focus towards incorporating this mechanism in next-gen connected home ecosystems. Collaborate for Portfolio Enhancement Competitors continue to explore opportunities in order to enhance their portfolios and gain a competitive edge among others. Product manufacturers across the globe are emphasizing on collaborations with technology providers to develop advanced products, in an attempt to cater to the market demand for home automation. For instance, in 2018, Sony Corporation and Lenovo collaborated with Google for smart speaker solutions with tablet-like screens. Concentrate on Minimizing Security Vulnerabilities As security remains the primary consumer requirement, connected home devices market contributors are focusing on minimizing security vulnerabilities and possibilities of security breaches through connected home devices. With the use of cutting-edge technologies such as IoT and AI, coupled with cybersecurity enabled across networks, companies aim to reduce the threat of hacking and data breach in connected home devices. Analysis on the Competitive Landscape In January 2019, Philips discussed its strategies to introduce 'wake up' and 'sleep' commands in its Hue lighting, with the integration of Google Assistant, which will help in alterations of the intensity of the lights for users. In January 2018, LG Electronics exhibited its focus on Artificial Intelligence and integrated Google Assistant into its smart speakers for enhanced consumer experience. Amazon recently announced the acquisition of Eero, a developer of mesh home routers. With this acquisition, Amazon would be able to use Eero's expertise to make Alexa-compatible gadgets easier to set up, as Amazon would now also control the router technology. The connected home devices market is moderately consolidated in nature, with 50-60% of the global market share being held by leading players in 2018. The competitive landscape in the global

6. connected home devices market is primarily governed by the manufacturers of connected home devices located in North America and Europe. Moreover, competition remains significantly intense in Asia Pacific. Although the market is primarily dominated by global players, domestic manufacturers are anticipated to gain prominent market shares over the coming years. Key strategies adopted by connected home devices market players to convert consumers into connected home device owners include significant investments in R&D activities to incorporate advanced and unique features into their products. Analysts’ Viewpoint TMR’s analysts have a positive perspective of the connected home devices market. To gain competitive advantage and capture untapped geographic markets, manufactures are focusing on strategic expansions in different geographies. Although North America is expected to be a prominent market throughout the period of forecast, the market for connected home devices is anticipated to witness major contribution from Asia Pacific. This is attributed to the increasing adoption of smart

7. technology-enabled devices in the region. New entrants can focus on reaping the benefits associated to opportunities traced in Asia Pacific. As connected home devices for lighting control would continue to generate major sales for established players, these could also offer growth prospects for emerging companies that aim to strengthen their position in local markets. Hybrid devices offer combined functionality and can be controlled through mobile-based applications as well as smart hub devices, which is facilitating the adoption of these devices across the globe. New entrants can consider investments in this technology to capitalize on the popularity of this technology. Connected Home Devices Market: Overview Connected home devices are smart appliances, such as lighting and electronic devices, that can be controlled remotely by the owner through mobile apps, smart devices, and web platforms. The adoption of connected home devices is gaining traction, owing to increasing awareness among customers regarding the benefits offered by these products in seamlessly managing home appliances and associated systems. These devices are used in lighting systems, speakers, television sets, security cameras, alarm systems, and smart thermostats. Technologically-advanced connected home devices are useful for rapid, accurate, and efficient communication. Owing to these advantages, the demand for connected home devices is anticipated to rise across the globe during the forecast period. The global connected home devices market is expected to expand at a CAGR of ~ 12.0% between 2019 and 2027, and reach a value of ~ US$ 157 Bn by 2027. Connected Home Devices Market: Key Drivers Rising awareness about and adoption of smart cities aligned with the integration of IoT are creating a large platform for growth of advanced and intelligent ecosystems. Such integration can help enhance the energy efficiency of a city and, at the same time, boost the health and safety of customers.

8. Additionally, owing to constant advancements in the electronics industry and changing lifestyles of people, smart home devices are experiencing significant adoption. The emergence of smart homes and cities is anticipated to boost the global connected home devices market during the forecast period. Government bodies across the world are focused on improving energy security and energy supply. Initiatives taken by the governments of various countries across the globe, such as the EMC (electromagnetic compatibility) regulations, for enhancing smart home applications and increasing energy efficiency are having a moderate impact on the global connected home devices market. Moreover, increasing use of lighting products, presence of a large number of market players, and high awareness about advanced technologies are fueling the global connected home devices market. Rising demand for fixtures from residential and commercial end users across the globe is anticipated to boost the connected home devices market during the forecast period. Along with this, consistent increase in the production of bulbs and significant investments in R&D activities are expected to propel the global connected home devices market during the forecast period. Connected Home Devices Market: Segments The entertainment segment of the global connected home devices market has been sub- divided into speakers, television, and others. With technological advancements in the entertainment sector, people are inclined toward the adoption of latest-technology-enabled smart television sets with home control devices. Manufacturers of televisions are continuously engaged in the development of artificial intelligence (AI) technology-enabled smart televisions to offer a smooth operation experience with the help of voice assistants. The adoption of voice assistant-enabled televisions is continuously increasing across the globe, as this technology is useful to operate televisions or speakers from a far distance inside a room, and it helps multitasking. Thus, smart television-enabled home control devices are expected to gain traction in various countries during the forecast period. This

9. factor is projected to act as a driver for the connected home devices market during the latter half of the forecast period. The global connected home devices market has been segmented based on product, technology, and region. In terms of product, the market has been classified into lighting, entertainment, security systems, smart thermostats, and others. The entertainment segment dominated the connected home devices market in 2018, due to rise in investments in products integrated with artificial intelligence (AI). In terms of technology, the global connected home devices market has been divided into device-based, mobile, and hybrid. Extensive research was conducted over the last decade to use hybrid technology to control smart products and equipment through mobile apps, smart devices, and web platforms. In terms of region, the global connected home devices market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. North America accounted for a major share of the global connected home devices market in 2018. The connected home devices market in the region is driven by the strong presence of key players and high rate of adoption of technologies. Leading Players in the Connected Home Devices Market Attracted by the anticipated growth of the global connected home devices market and underlying latent demand, several players are expanding their businesses through strategic mergers and acquisitions, as well as partnerships. Some of the prominent players operating in the global connected home devices market are Phillips N.V. Panasonic Corporation Samsung Electronics LG Electronics Analog Devices, Inc. Honeywell International Inc.

10. Siemens AG Schneider Electric General Electric Company Sony Corporation AB Electrolux Johnson Controls United Technologies Global Connected Home Devices Market: Taxonomy Lighting Bulbs Fixtures Entertainment Speakers Television Others Product Security Systems Security Cameras Locks Alarm Systems Smart Thermostats Others Technology Device-based Mobile-based

11. Hybrid North America Europe Region Asia Pacific Middle East and Africa South America Get Free Sample Interested in this report? Get a FREE sample now! *Get Sample Report (PDF) sent to your email within minutes - Help - - Follow Us - Terms Of Use Customer FAQ How To Order Privacy Policy Sitemap U.S Sales Office Corporate Headquarter Reach Us +1-518-618-1030 State Tower, 90 State Street, Suite 700, Albany NY - 12207, United States Downtown, 1000 N. West Street, Suite 1200, Wilmington, Delaware 19801 USA 866-552-3453 (US-Canada Toll Free) sales@transparencymarketresearch.com

12. Trust Online Copyright © Transparency market Research. All Rights reserved PDFmyURL.com - convert URLs, web pages or even full websites to PDF online. Easy API for developers!