Post-pandemic Trends and Growth Opportunities in the Smart Homes Market

Post-pandemic Trends and Growth Opportunities in the Smart Homes Market

Focus on Cost Savings, Comfort, and Security will Enhance Future Growth Potential

RELEASE DATE
20-Feb-2023
REGION
Global
Research Code: PDA3-01-00-00-00
SKU: EN01371-GL-MT_27471
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Description

This research study provides a post-pandemic trend analysis of the smart homes market, highlighting information on the growth of connected devices, regional trends, consumer preferences, and other key indicators. Smart and connected homes have an evolving, dynamic market poised for strong growth in the next 5 years. The primary drivers of this market are the demand for safety, security, and comfort; the need for better energy and cost savings; growing adoption of technology-enabled products and high-speed Internet connectivity; and a shift towards innovative business models.

The study categorizes the smart home market into 5 key segments: home energy management, home automation and control, home safety and security, home entertainment, and health and wellness. This research service explores the top growth zones in the smart homes market, analyzing key drivers and restraints that influence market growth and the trends impacting market dynamics, including key regional trends related to the semiconductor ecosystem. The study also identifies the key growth opportunities and strategic imperatives for market participants. The base year is 2022, and the forecast period is 2023 to 2027.

Author: Anirudh Bhaskaran

Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Smart Homes Market

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Scope of Analysis (continued)

Growth Drivers

Growth Restraints

Average Number of Connected Devices Per Home

Growth in Average Number of Connected Devices Per Home

Top Trends in the Smart Homes Market

Trend 1: AI-powered Voice Assistants Enhance Consumer Convenience and Engaging with Smart Home Appliances

Trend 2: Matter—A Game-changing Standard for the Smart Home Ecosystem

Trend 3: Consumers Accelerate Investments in Digital Health and Fitness Products

Trend 4: Soaring Retail Energy Prices and Changing Customer Expectations Augment the Deployment of Home Energy Personalization Services

Trend 5: Increasing Number of Connected Devices and Networks Require Sophisticated Customer Experience Platforms

Trend 6: Growing Cyber Threat Concerns Lead to Demands for Next-gen Cyber Security Solutions from Communication Service Providers

Trend 7: Expanding AI Capabilities in Home Security Systems Accelerate the Growth of Autonomous Home Awareness Systems

Trend 8: Subscription Service Models Crucial for Further Penetration of Mid-to-high-end Smart Home Solutions

India to Ease Global Semiconductor Supply Chain Pressure in the Long Term

US CHIPS and Science Act to Spur Semiconductor Manufacturing and Bring Down Costs of Consumer Electronics

Growth Opportunity 1: Flexible Payment Models

Growth Opportunity 1: Flexible Payment Models (continued)

Growth Opportunity 2: Matter-certified Products

Growth Opportunity 2: Matter-certified Products (continued)

Growth Opportunity 3: Decarbonization Strategies

Growth Opportunity 3: Decarbonization Strategies (continued)

List of Exhibits

Legal Disclaimer

This research study provides a post-pandemic trend analysis of the smart homes market, highlighting information on the growth of connected devices, regional trends, consumer preferences, and other key indicators. Smart and connected homes have an evolving, dynamic market poised for strong growth in the next 5 years. The primary drivers of this market are the demand for safety, security, and comfort; the need for better energy and cost savings; growing adoption of technology-enabled products and high-speed Internet connectivity; and a shift towards innovative business models. The study categorizes the smart home market into 5 key segments: home energy management, home automation and control, home safety and security, home entertainment, and health and wellness. This research service explores the top growth zones in the smart homes market, analyzing key drivers and restraints that influence market growth and the trends impacting market dynamics, including key regional trends related to the semiconductor ecosystem. The study also identifies the key growth opportunities and strategic imperatives for market participants. The base year is 2022, and the forecast period is 2023 to 2027. Author: Anirudh Bhaskaran
More Information
Author Anirudh Bhaskaran
Industries Environment
No Index No
Is Prebook No
Keyword 1 Smart Home Market Trends
Keyword 2 Smart Home Market
Keyword 3 Home Automation Market
Podcast No
WIP Number PDA3-01-00-00-00