Smart Home Market to Register a 14.07% CAGR through 2022, States M&M in Its Cutting-Edge Report Available at MarketPublishers.com19 May 2016 • by Natalie Aster
LONDON – The global smart homes market stood at the value of USD 46.97 billion in 2015. In the next five years, the market value is expected to see positive growth at a 14.07% CAGR and by 2022 will likely reach USD 121.73 billion. The smart homes market growth is anticipated to be supported by considerable advancements in the IoT sector, rising consumers’ need for convenience, security and safety and also increasing need for energy saving and low carbon emission-oriented solutions.
North America and APAC are the biggest regional markets for smart homes. North America commanded the largest market share in 2015 due to enhanced home security levels, rising demand for reliable home energy management systems, enhancing adoption of smart devices in smart home solutions. The highest growth rates are predicted to be registered in the APAC smart homes market; growth in this regional market will likely be drive by improving living standards, rising population number, strong economic growth and also rapid urbanisation.
New topical study “Smart Home Market” by MarketsandMarkets (M&M) offers a detailed guide to the world smart homes marketplace, providing data on the market dynamics, segmentation and trends as well as uncovering reliable data on the historical, present and forecast performance of the global smart homes market. It offer an insightful insight into the competitive landscape, features the regulative environment, gives data on the top market participants and also uncovers forecasts for the market development through 2022.
For other insightful research studies by M&M follow to this catalogue.