Technological Advancement and Ease of Use and Convenience Driving the Smart Home Technology Market Analysis & Forecast with Different Segment and Key Players Insights | UnivDatos Market Insights - Seite 2

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COVID-19 Impact

Across the globe, several countries have imposed lockdown during the pandemic, to check and combat the widespread transmission of COVID-19. During this period, the number of people staying at home and close to home has increased, this has increased the adoption of smart technologies. This adoption of technologies leads to industry growth, as more user upgrades themselves or and choose new technologies. Further, the providers also capitalize on these demands and provide relevant, easy-to-use, easy-to-adopt technologies with simple installation and integration. New research estimates that nearly one-third of smart device owners in United States broadband households have increased usage of their smart devices during the COVID-19 pandemic, including 46 percent of smart door lock owners.

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Smart Home Technology Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Product, the market is primarily bifurcated into

• Safety and Security
• Smart Appliances
• HVAC
• Home Entertainment
• Lighting Systems
• Energy Management

Smart Appliances segment dominated the by type of the global smart home technology market and will grow at 20.4% CAGR to reach US$ 57.4 billion by the year 2027.

By Technology, the market is primarily segmented into

• Wireless
• Wired

Amongst technology types, wireless accounted for the largest share and is expected to grow at 19.4% CAGR during the forecast period 2021-2027. In 2020, the wireless segment accounted for a revenue share of almost 83.3%.

By Wireless Technology, the market is primarily bifurcated into

• Wi-Fi Technology
• Bluetooth
• Zigbee
• Z - Wave
• Others

In 2020, the Wi-Fi technology segment dominated the global smart home technology market with nearly 60.8% of the market share and it is anticipated by 2027, the segment will garner US$ 98.1 billion of the market.

By Wired technology, the market is primarily studied into

• Ethernet
• Power Line Communication
• Fiber Optics
• Others

In 2020, the Ethernet segment dominated the global smart home technology market with nearly 54.9% of the market share and it is anticipated by 2027, the segment will garner US$ 19.4 billion of the market.