What the Future of Europe Smart Home Market Looks Like (2022-2028)?

 Europe Smart Home Market stood at US$ 9,674.1 million in 2018 and is expected to grow at a CAGR of 27.1% during the forecasted period 2019-2025. The smart home industry in Europe despite being at niche level portrays as the second prominent region in smart home landscape. The smart home industry in the region has witnessed its wide adoption in the past few years, especially in countries such as Germany, UK, the Netherlands, and France. Rapid digitization, high penetration of smartphones, growing need for energy consumption & emission, and rising concern for security & safety constitute as some of the major parameters catalysing the growth of European smart home market. Moreover, swelling aging population has also created ample room for smart revolution in the healthcare sector thereby driving the Europe smart home market. However, the absence of education and knowledge among the consumers about smart devices, consumer’s concern regarding data security, complex installation paired with the high price of smart home appliances are some of the factors which are acting as some of the complex challenges that are hampering the growth of the smart home sector in Europe.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=6992

In spite of such challenges, the potential growth for telecom operators, insurance providers and the surge in ageing population at considerable rate are anticipated to attract global players to invest and come up with technologically advanced home appliances products in the respective regions. Increasing investments and development of European companies along with presence of local players such as Hive, Tado, and Netatmo offering smart home products, well suited as per consumer specifications, are further anticipated to propel the market. Undoubtedly, launch of Amazon Echo and Google Home has sparked a wave of adoption of smart devices in Europe as well. New technologies such as voice control and Artificial intelligence not only purpose to offer more convenience to its end users but have resulted in rising consumer awareness to some extent

“Penetration rate of HVAC is estimated to occupy a prominent share of 23.8% in the overall market.”

Europe smart home industry can be segmented across different areas of application which encompasses safety and security, lighting, HVAC, entertainment, smart appliances, and energy management among others. With the change in consumer preferences and promotional marketing of lighting and HVAC appliances, these application areas are likely to be among the top trend during the forecast period.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=6992

“Wireless technology is expected to grow at a higher CAGR during the analyzed period.”

Based on technologies, the market is segmented into wired and wireless segments. The wireless technology dominates the market and is expected to maintain its dominance by 2025. However, wireless technology is expected to grow at a higher CAGR during the analyzed period. The respective segment is classified into Wi-Fi, Bluetooth, ZigBee, and Z-wave technologies wherein the Wi-Fi smart home technology market was accounted at US$ 5,006.7 million in 2018

“Amongst the end-users, the residential segment holds the major share in the Europe smart home market”

Moreover, the market is further bifurcated into the various end-users, wherein the residential segment holds the prime share in the European smart home market. With the rapid advancement in technologies, changing lifestyles, and rising disposable income of the consumers, mid-range apartments/houses are likely to rule the smart home market by 2025 followed by luxury villas and apartments. The mid-range apartments/houses segment of the residential smart home market generated a revenue of US$ 2,790.2 million in 2018. In addition, among commercial end-users segment, hospitals conquered the market by occupying the lead share in the market, hotels would display maximum CAGR growth of XX% over the forecasted period in the respective market

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“Germany dominates the European Smart Home Market, accounting for 20.8% share”

For a deep-dive analysis of the industry, the study is conducted across five regions, including Germany, UK, Netherland, France, Norway, Switzerland, Denmark and rest of Europe. Germany plays chief role in the technological market which was valued at US$ 2,015.3 million in and is estimated to register reasonable compounded growth of 24.1% over the analyzed period. However, Switzerland is expected to witness the highest growth during the analyzed period.

Competitive Landscape-Top 20 Market Players

Some of the major players analyzed during the study include, 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, and Vivint Inc. These companies can pool in investment from their other business to the smart home market and come up with innovative products pertaining to the increasing demand for smart home appliances.

Reasons to buy:

·       The smart home market study presents the current market size, trend, forecast until 2025. The analysis presented in the report is a combination of deep-dive secondary research and input from Key Opinion Leader of the industry

·       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 of 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 and sub-segments

·       The report presents a deep dive regional level analysis of the industry

Customization Options:

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