Asia-Pacific Smart Homes Technology Market: Insights and Forecast, 2020-2026

Market Overview:

Smart Home Technology has considerably helped homeowners in providing independence and safety even when they are away from home. Owing to such advancement in technology, adoption of smart home devices have witnessed growth over the last couple of years, especially in the developing Asian countries including China, Japan and India among others. Smart home devices and sensors can connect with each other and can communicate and transfer the data to rapidly take the autonomous action. Smart devices often connect themselves to smartphones or tablets through a mobile app, thereby allowing the users to control the smart device remotely. Asia-Pacific portrays as the emerging region for the overall adoption of smart home technology. Although the technology stands at the niche level, Asia-Pacific is the fastest growing region when compared to other regions globally. Asia-Pacific smart home technology market has witnessed its wide adoption in the past few years, especially in countries such as China, Japan and India among others. Increasing awareness among consumers, rapid digitization, high penetration of smartphones, growing need for energy consumption & emission paired with government initiatives in terms of smart cities initiatives in countries such as China, India and Japan are some of the prominent drivers for the smart home technology market in the Asia-Pacific region. Asia-Pacific smart home market is anticipated to display skyrocketing CAGR of 31.3% over the forecast period. Moreover, the aging population has also created ample room for a smart revolution in healthcare sector thereby driving the Chinese smart home technology market. However, concerns regarding data security, complex installation paired with the high price of smart home appliances are some of the challenging factors that is expected to hamper the growth of Asian smart home technology market. In spite of such challenges, the potential growth for telecom operators, insurance providers and emerging business opportunities, especially in the Asia-Pacific smart home market is anticipated to attract global players to invest and come up with technologically advanced smart home appliances for consumers in the Asian countries.

Insights Presented in the Report:

Asia-Pacific smart home technology market is segmented based on an application which encompasses safety & security, lighting, HVAC, entertainment, smart appliances and energy management among others. At present, the penetration of smart appliances is much higher compared to other application areas. They are estimated to dominate the market attributed to rising demand for connecting smart appliances and consumer electronics. With changing consumer preferences, the respective application is likely to reach US$ 11,792.5 million by 2024.

Request to Fill The Form To get Sample Copy of This Report: https://www.sdki.jp/sample-request-111401

Based on technologies, the market is segmented into wired and wireless technology. The wireless technology dominates the market and is expected to maintain its dominance throughout the forecast period (2018-2024). However, wired technology is expected to grow at a higher CAGR of 32.4% during the forecast period. The former segment is classified into Wi-Fi, Bluetooth, ZigBee and Z-wave technologies wherein Wi-Fi technology in smart home domain was valued at US$ 3,017.6 million in 2017 followed by Bluetooth.

Moreover, the market is further bifurcated based on the ultimate end-users into residential and commercial end-user, wherein residential segment holds the prime share in the Asia-Pacific smart home technology market contradicting with the commercial end-user segment. With rapid advancement in technologies, changing lifestyles and rising disposable income, mid-range apartments & houses are likely to rule the residential end-user segment smart home market, followed by luxury villas and apartments. In addition, hospitals dominated the commercial end-users smart home technology market. However, hotels segment would display maximum CAGR growth over the forecast period and are predicted to reach a market size of US$ 3,005.2 million by 2024.

For a deep dive analysis of the industry, the study also includes country level analysis including major markets in the Asia-Pacific region that includes China, Japan, India, South Korea and the rest of Asia-Pacific. China takes the upper hand in the technological market due to first mover advantage. Increasing demand for smart devices, high penetration of smartphone & internet paired with a strong manufacturing base and growing awareness along with government initiatives such as smart cities mission has helped China to dominate the Asia-Pacific smart home technology market. China smart home market is anticipated to showcase the astonishing CAGR of 30% over the forecast period.

Competitive Landscape

Some of the major players operating in the Asia-Pacific smart home technology market include Haier Electronics, ABB Limited, ASSA ABLOY, Cisco Systems, Inc., Emerson Electric Co, General Electric Company, Samsung Electronics Ltd, IBM Corporation, LG Electronics Inc., Schneider Electric S.E., Siemens AG and United Technologies Corporation. These companies have the ability to pool in investment from their other business to smart home market and come up with innovative products pertaining to the increasing demand for smart home appliances in countries such as China, India and Japan among other emerging Asian countries.

Reasons to buy:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts
The report presents a quick review of overall industry performance at one glance
The report covers in depth analysis of prominent industry peers with primary focus on key business financials, product portfolio, expansion strategies and recent developments
Detailed examination on drivers, restraints, key trends and opportunities prevailing in the industry.
Examination of industry attractiveness with the help of Porter’s Five Forces analysis
The study comprehensively covers the market across different segments
Deep dive regional level analysis of the industry

Customization Options:

The Asia Pacific Smart Home Market can be customized to country level or any other market segment. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients.

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

For more information, please contact:

Hina Miyazu

Shibuya Data Count
Email: sales@sdki.jp
Tel: + 81 3 45720790