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 3

By End-User, the market is primarily fragmented into

• Residential
• Commercial

In 2020, the residential segment dominated the global smart home technology market with nearly 76.2% of the market share and it is anticipated by 2027, the segment will garner US$ 154.2 billion of the market.

By Residential, the market is primarily bifurcated into

• Luxury Villas
• Luxury Apartments
• Mid-Range Houses/Apartment
• Assisted Homes
• Others (Low Energy Homes)

In 2020, the mid-range houses/apartment segment dominated the global smart home technology market with nearly 37.5% of the market share and it is anticipated by 2027, the segment will garner US$ 55.6 billion of the market.

By Commercial, the market is primarily fragmented into

• Hotels
• Hospitals
• Others Commercial Buildings

In 2020, the hospitals' segment dominated the global smart home technology market with nearly 66.2% of the market share and it is anticipated by 2027, the segment will garner US$ 34.8 billion of the market.

Smart Home Technology Market Geographical Segmentation Includes:

• North America (the United States, Canada, and Rest of North America)
• Europe (Germany, United Kingdom, Netherlands, France, Norway, Switzerland, Denmark, and Rest of Europe)
• Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Middle East & North Africa (UAE, Saudi Arabia, Qatar, Kuwait, Turkey, Israel, and Rest of MENA)
• Latin America (Brazil, Argentina, and Rest of Latin America)

Based on the estimation, the North America region dominated the smart home technology market with almost US$ 27 billion revenue in 2020. At the same time, the Asia-Pacific region is expected to grow remarkably with a CAGR of 23.9% over the forecast period on account of the increasing internet penetration, disposable income, and millennials population, and awareness about smart products.

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The major players targeting the market includes

• Haier Electronics
• ABB Limited
• Acuity Brands, Inc.
• AMX, LLC
• ASSA ABLOY
• Cisco Systems, Inc.
• Control4 Corporation
• Crestron Electronics Inc.
• Deutsche Telekom AG
• Emerson Electric Co.
• General Electric Company
• Samsung Electronics Ltd
• Honeywell International Inc.
• IBM Corporation
• LG Electronics Inc.
• Monitronics International Inc.
• Schneider Electric S.E.
• Siemens AG
• United Technologies Corporation
• Vivint Inc.

Competitive Landscape