Global Smart Homes Technology Market: Insights and Forecast, 2020-2025
Market Overview: The Smart home industry is at the niche stage, however, the industry has witnessed its wide adoption in the past few years, especially in the developed countries such as the US, and the European Union. Increasing awareness among consumers, rapid digitization, high penetration of smartphones, stringent governmental regulations on energy consumption & emission, and increased demand of smart home energy management system are attributed to be the major trends and drivers for the industry in the global space. Accredited to this, global smart home market fetched the total revenues of US$ 32,171 million in 2017 and is expected to grow at a CAGR of XX.0% during the forecasted period 2018-2024. Moreover, the swelling aging population has also created ample room for the smart revolution in the healthcare sector. However, consumer’s concern regarding data security, complex installation paired with the high price of smart home appliances are some of the factors which are actin...