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Smart Home and Office Market Set to Witness an Uptick by 2025 | Market Research Future

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Overview

The smart home and office market will witness a healthy growth from 2018 to 2025, a research report suggests. Growing at a CAGR of 14.01%, the market is projected to reach US$92.18 billion by 2025. The growing need for energy-efficient building is expected to support the market growth along with rising concerns regarding safety. As predicted by analysts, high switching and installation costs will negatively affect the market’s performance from 2018 to 2025. During the forecast period, the market will be supported by the increasing ownership of internet-enabled smart devices and demand from the security and public convenience sector.

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Risks of data breaches on the other hand will challenge home automation sector based organizations functioning in the global smart home and office market. Analysts have split the market into product, applications, and standard segments based on products and services. Home automation based companies have been profiled. Device malfunctioning is set to affect the global market during the forecast period 2018 to 2025. The report also provides the market’s performance forecasts till 2025. Analysts have studied the strategy of home automation segment based organizations to help new entrants and established businesses. The home automation sector itself is supported by integration with 5G technology as well as favorable government regulations regarding green buildings. During the forecast period 2018 to 2025, the smart home and office market is set to witness a health growth across product, applications, and standard segments as well as regional markets.

Regional Overview

Home automation market based companies in the smart home and office market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. Favorable policies across regional markets will be a key growth driver for regional markets. However, high maintenance and deployment costs will turn out to be a threat. For the forecast period 2018 to 2025 each of these regional markets are studied in the report. Starting from North America, the regional market and home automation vertical based companies are spread across the United States, Canada, and Mexico.Growing concerns regarding high costs will turn out to be a major challenge from 2018 to 2025. Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany.

The market in the region will be benefitted by the growing demand for innovative products as well as the increasing preference of consumers, suggests the report. Similarly, the home automation sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the smart home and office market covers the Middle East and Africa. Forecast based on the reports findings are presented for the forecast period till 2025.

Competitive Landscape

The global smart home and office market research report brings a comprehensive study of product, applications, and standard market segments, regional analysis, and home automation vertical based company details of key players. As the forecast period 2018 to 2025 will bring new opportunities for the market owing to the rise in distribution channels and shifting trends in the consumer market, the market is set to grow at a compound annual growth rate of 14.01% and is predicted to reach a value of US$92.18 billion by 2025. With SWOT analysis of home automation sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as the lack of effective marketing investment and an undeveloped infrastructure, companies in the home automation sector can change the way business is done.

Table of Content:

3 RESEARCH METHODOLOGY

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 DRIVERS

4.2.1 GROWING NEED FOR ENERGY-EFFICIENT BUILDINGS

4.2.2 INCREASING OWNERSHIP OF INTERNET-ENABLED SMART DEVICES

4.2.3 RISING CONCERNS REGARDING SAFETY, SECURITY, AND PUBLIC CONVENIENCE

4.2.4 DRIVERS IMPACT ANALYSIS

4.3 RESTRAINTS

4.3.1 HIGH SWITCHING AND INSTALLATION COSTS

4.3.2 RISK OF DATA BREACH AND DEVICE MALFUNCTIONING

4.3.3 RESTRAINTS IMPACT ANALYSIS

4.4 OPPORTUNITIES

4.4.1 INTEGRATION WITH 5G TECHNOLOGY

4.4.2 FAVORABLE GOVERNMENT REGULATIONS REGARDING GREEN BUILDING INITIATIVES

4.5 CHALLENGE

4.5.1 LACK OF TECHNICAL EXPERTISE AND INFRASTRUCTURE IN DEVELOPING COUNTRIES

5 MARKET FACTOR ANALYSIS

5.1 VALUE CHAIN ANALYSIS

5.1.1 COMPONENT SUPPLIERS

5.1.2 PLATFORM DEVELOPERS

5.1.3 SYSTEM INTEGRATORS

5.1.4 END USER

5.2 PORTER’S FIVE FORCES MODEL

5.2.1 THREAT OF NEW ENTRANTS

5.2.2 BARGAINING POWER OF SUPPLIERS

5.2.3 THREAT OF SUBSTITUTES

5.2.4 BARGAINING POWER OF BUYERS

5.2.5 INTENSITY OF RIVALRY

6 GLOBAL SMART HOME AND OFFICE MARKET, BY PRODUCT

6.1 OVERVIEW

6.1.1 GLOBAL SMART HOME AND OFFICE MARKET VALUE, BY PRODUCT

6.1.2 GLOBAL SMART HOME AND OFFICE MARKET VOLUME, BY PRODUCT

6.2 LIGHTING CONTROLS

6.2.1 GLOBAL SMART HOME AND OFFICE LIGHTING CONTROLS MARKET VALUE, BY TYPE

6.2.2 GLOBAL SMART HOME AND OFFICE LIGHTING CONTROLS MARKET VOLUME, BY TYPE

6.2.3 RELAYS

6.2.4 SENSORS

6.2.5 DIMMERS

6.2.6 SWITCHES

6.2.7 OTHERS

6.3 ACCESS CONTROLS

6.3.1 GLOBAL SMART HOME AND OFFICE ACCESS CONTROLS MARKET VALUE, BY TYPE

6.3.2 GLOBAL SMART HOME AND OFFICE ACCESS CONTROLS MARKET VOLUME, BY TYPE

6.3.3 BIOMETRIC READERS

6.3.4 SMART CARD READERS

6.3.5 SMART LOCKS

6.3.6 OTHERS

6.4 SURVEILLANCE PRODUCTS

6.4.1 GLOBAL SMART HOME AND OFFICE SURVEILLANCE PRODUCTS MARKET VALUE, BY TYPE

6.4.2 GLOBAL SMART HOME AND OFFICE SURVEILLANCE PRODUCTS MARKET VOLUME, BY TYPE

6.4.3 SECURITY CAMERAS

6.4.4 STORAGE AND MONITORING DEVICES

6.4.5 OTHERS

6.5 HVAC CONTROLS

6.5.1 GLOBAL SMART HOME AND OFFICE HVAC CONTROLS MARKET VALUE, BY TYPE

6.5.2 GLOBAL SMART HOME AND OFFICE HVAC CONTROLS MARKET VOLUME, BY TYPE

6.5.3 SMART THERMOSTAT

6.5.4 SENSORS

6.5.5 CONTROL VALVES

6.5.6 ACTUATORS

6.5.7 DAMPERS

6.5.8 SMART VENTS

6.5.9 OTHERS

6.6 OTHER PRODUCTS

6.6.1 GLOBAL SMART HOME AND OFFICE OTHER PRODUCTS MARKET VALUE, BY TYPE

6.6.2 GLOBAL SMART HOME AND OFFICE OTHER PRODUCTS MARKET VOLUME, BY TYPE

6.6.3 SMART SMOKE DETECTORS

6.6.4 SMART METERS

6.6.5 OTHERS

7 GLOBAL SMART HOME AND OFFICE MARKET, BY STANDARD

7.1 OVERVIEW

7.1.1 GLOBAL SMART HOME AND OFFICE MARKET FORECAST, 2020-2027

7.2 KNX

7.2.1 LIST OF KNX DEVICE MANUFACTURERS IN EUROPE

7.3 ZIGBEE

7.4 Z-WAVE

7.5 ENOCEAN

7.6 BACNET

7.7 DALI

7.8 WI-FI

7.9 INFRARED

8 GLOBAL SMART HOME AND OFFICE MARKET, BY END USER

8.1 OVERVIEW

8.1.1 GLOBAL SMART HOME AND OFFICE MARKET FORECAST, 2020-2027

8.2 SMART HOME

8.2.1 GLOBAL SMART HOME MARKET, BY TYPE

8.2.2 RENOVATIONS

8.2.2.1 GLOBAL SMART HOME RENOVATION MARKET VOLUME, BY PRODUCT

8.2.3 NEW CONSTRUCTION

8.2.3.1 GLOBAL SMART HOME NEW CONSTRUCTION MARKET VOLUME, BY PRODUCT

8.3 SMART OFFICE

8.3.1 GLOBAL SMART OFFICE MARKET, BY TYPE

8.3.2 RENOVATIONS

8.3.2.1 GLOBAL SMART OFFICE RENOVATION MARKET VOLUME, BY PRODUCT

8.3.3 NEW CONSTRUCTION

8.3.3.1 GLOBAL SMART OFFICE NEW CONSTRUCTION MARKET VOLUME, BY PRODUCT

9 GLOBAL SMART HOME AND OFFICE MARKET, BY REGION

9.1 OVERVIEW

9.1.1 MARKET ESTIMATES AND FORECAST, BY REGION

9.2 NORTH AMERICA

9.2.1 MARKET ESTIMATES AND FORECAST, BY COUNTRY

9.2.2 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.2.2.1 NORTH AMERICA SMART HOME AND OFFICE MARKET VALUE, BY PRODUCT

9.2.2.2 NORTH AMERICA SMART HOME AND OFFICE MARKET VOLUME, BY PRODUCT

9.2.3 .MARKET ESTIMATES AND FORECAST, BY STANDARD

9.2.4 MARKET ESTIMATES AND FORECAST, BY END USER

9.2.4.1 NORTH AMERICA SMART HOME MARKET, BY TYPE

9.2.4.2 NORTH AMERICA SMART HOME MARKET VOLUME, BY PRODUCT TYPE

9.2.4.3 NORTH AMERICA SMART OFFICE MARKET, BY TYPE

9.2.4.4 NORTH AMERICA SMART OFFICE MARKET VOLUME, BY PRODUCT TYPE

9.2.5 US

9.2.5.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.2.5.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.2.5.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.2.5.3.1 US SMART HOME MARKET, BY TYPE

9.2.5.3.2 US SMART OFFICE MARKET, BY TYPE

9.2.6 CANADA

9.2.6.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.2.6.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.2.6.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.2.6.3.1 CANADA SMART HOME MARKET, BY TYPE

9.2.6.3.2 CANADA SMART OFFICE MARKET, BY TYPE

9.2.7 MEXICO

9.2.7.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.2.7.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.2.7.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.2.7.3.1 MEXICO SMART HOME MARKET, BY TYPE

9.2.7.3.2 MEXICO SMART OFFICE MARKET, BY TYPE

9.3 EUROPE

9.3.1 MARKET ESTIMATES AND FORECAST, BY COUNTRY

9.3.2 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.3.2.1 EUROPE SMART HOME AND OFFICE MARKET VALUE, BY PRODUCT

9.3.2.2 EUROPE SMART HOME AND OFFICE MARKET VOLUME, BY PRODUCT

9.3.3 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.3.4 MARKET ESTIMATES AND FORECAST, BY END USER

9.3.4.1 EUROPE SMART HOME MARKET, BY TYPE

9.3.4.2 EUROPE SMART HOME MARKET VOLUME, BY PRODUCT TYPE

9.3.4.3 EUROPE SMART OFFICE MARKET, BY TYPE

9.3.4.4 EUROPE SMART OFFICE MARKET VOLUME, BY PRODUCT TYPE

9.3.5 UK

9.3.5.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.3.5.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.3.5.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.3.5.3.1 UK SMART HOME MARKET, BY TYPE

9.3.5.3.2 UK SMART OFFICE MARKET, BY TYPE

9.3.6 GERMANY

9.3.6.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.3.6.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.3.6.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.3.6.3.1 GERMANY SMART HOME MARKET, BY TYPE

9.3.6.3.2 GERMANY SMART OFFICE MARKET, BY TYPE

9.3.7 SWITZERLAND

9.3.7.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.3.7.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.3.7.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.3.7.3.1 SWITZERLAND SMART HOME MARKET, BY TYPE

9.3.7.3.2 SWITZERLAND SMART OFFICE MARKET, BY TYPE

9.3.8 AUSTRIA

9.3.8.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.3.8.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.3.8.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.3.8.3.1 AUSTRIA SMART HOME MARKET, BY TYPE

9.3.8.3.2 AUSTRIA SMART OFFICE MARKET, BY TYPE

9.3.9 FRANCE

9.3.9.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.3.9.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.3.9.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.3.9.3.1 FRANCE SMART HOME MARKET, BY TYPE

9.3.9.3.2 FRANCE SMART OFFICE MARKET, BY TYPE

9.3.10 SPAIN

9.3.10.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.3.10.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.3.10.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.3.10.3.1 SPAIN SMART HOME MARKET, BY TYPE

9.3.10.3.2 SPAIN SMART OFFICE MARKET, BY TYPE

9.3.11 ITALY

9.3.11.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.3.11.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.3.11.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.3.11.3.1 ITALY SMART HOME MARKET, BY TYPE

9.3.11.3.2 ITALY SMART OFFICE MARKET, BY TYPE

9.3.12 BENELUX (BELGIUM, NETHERLANDS, LUXEMBOURG)

9.3.12.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.3.12.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.3.12.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.3.12.3.1 BENELUX SMART HOME MARKET, BY TYPE

9.3.12.3.2 BENELUX SMART OFFICE MARKET, BY TYPE

9.3.13 NORDIC (NORWAY, SWEDEN, FINLAND, DENMARK)

9.3.13.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.3.13.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.3.13.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.3.13.3.1 NORDIC SMART HOME MARKET, BY TYPE

9.3.13.3.2 NORDIC SMART OFFICE MARKET, BY TYPE

9.3.14 REST OF EUROPE

9.3.14.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.3.14.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.3.14.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.3.14.3.1 REST OF EUROPE SMART HOME MARKET, BY TYPE

9.3.14.3.2 REST OF EUROPE SMART OFFICE MARKET, BY TYPE

9.4 ASIA-PACIFIC

9.4.1 MARKET ESTIMATES AND FORECAST, BY COUNTRY

9.4.2 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.4.2.1 ASIA-PACIFIC SMART HOME AND OFFICE MARKET VALUE, BY PRODUCT

9.4.2.2 ASIA-PACIFIC SMART HOME AND OFFICE MARKET VOLUME, BY PRODUCT

9.4.3 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.4.4 MARKET ESTIMATES AND FORECAST, BY END USER

9.4.4.1 ASIA-PACIFIC SMART HOME MARKET, BY TYPE

9.4.4.2 ASIA-PACIFIC SMART HOME MARKET VOLUME, BY PRODUCT TYPE

9.4.4.3 ASIA-PACIFIC SMART OFFICE MARKET, BY TYPE

9.4.4.4 ASIA-PACIFIC SMART OFFICE MARKET VOLUME, BY PRODUCT TYPE

9.4.5 CHINA

9.4.5.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.4.5.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.4.5.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.4.5.3.1 CHINA SMART HOME MARKET, BY TYPE

9.4.5.3.2 CHINA SMART OFFICE MARKET, BY TYPE

9.4.6 JAPAN

9.4.6.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.4.6.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.4.6.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.4.6.3.1 JAPAN SMART HOME MARKET, BY TYPE

9.4.6.3.2 JAPAN SMART OFFICE MARKET, BY TYPE

9.4.7 INDIA

9.4.7.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.4.7.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.4.7.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.4.7.3.1 INDIA SMART HOME MARKET, BY TYPE

9.4.7.3.2 INDIA SMART OFFICE MARKET, BY TYPE

9.4.8 REST OF ASIA-PACIFIC

9.4.8.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.4.8.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.4.8.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.4.8.3.1 REST OF ASIA-PACIFIC SMART HOME MARKET, BY TYPE

9.4.8.3.2 REST OF ASIA-PACIFIC SMART OFFICE MARKET, BY TYPE

9.5 REST OF THE WORLD

9.5.1 MARKET ESTIMATES AND FORECAST, BY REGION

9.5.2 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.5.2.1 REST OF THE WORLD SMART HOME AND OFFICE MARKET VALUE, BY PRODUCT

9.5.2.2 REST OF THE WORLD SMART HOME AND OFFICE MARKET VOLUME, BY PRODUCT

9.5.3 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.5.4 MARKET ESTIMATES AND FORECAST, BY END USER

9.5.4.1 REST OF THE WORLD SMART HOME MARKET, BY TYPE

9.5.4.2 REST OF THE WORLD SMART HOME MARKET VOLUME, BY PRODUCT TYPE

9.5.4.3 REST OF THE WORLD SMART OFFICE MARKET, BY TYPE

9.5.4.4 REST OF THE WORLD SMART OFFICE MARKET VOLUME, BY PRODUCT TYPE

9.5.5 MIDDLE EAST & AFRICA

9.5.5.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.5.5.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.5.5.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.5.5.3.1 MIDDLE EAST & AFRICA SMART HOME MARKET, BY TYPE

9.5.5.3.2 MIDDLE EAST & AFRICA SMART OFFICE MARKET, BY TYPE

9.5.6 CENTRAL & SOUTH AMERICA

9.5.6.1 MARKET ESTIMATES AND FORECAST, BY PRODUCT

9.5.6.2 MARKET ESTIMATES AND FORECAST, BY STANDARD

9.5.6.3 MARKET ESTIMATES AND FORECAST, BY END USER

9.5.6.3.1 CENTRAL & SOUTH AMERICA SMART HOME MARKET, BY TYPE

9.5.6.3.2 CENTRAL & SOUTH AMERICA SMART OFFICE MARKET, BY TYPE

10 COMPETITIVE LANDSCAPE

10.1 COMPETITIVE OVERVIEW

10.2 MARKET SHARE ANALYSIS, 2018 (%)

10.2.1 GLOBAL MARKET SHARE ANALYSIS

10.3 COMPETITIVE BENCHMARKING

10.4 KEY DEVELOPMENTS & GROWTH STRATEGIES

10.4.1 NEW PRODUCT LAUNCHES/DEVELOPMENT/ENHANCEMENT

10.4.2 PARTNERSHIP/COLLABORATION

10.4.3 ACQUISITION/CONTRACT

Get Complete Report @ https://www.marketresearchfuture.com/reports/smart-home-office-market-8670

Industry News

With an increasing number of devices in homes across the world communicating through Wi-Fi and Bluetooth, the smart homes we imagine may often feel more like a warehouse of disconnected technology.  Yonomi's company has been built on this basis. The Austin-based company was formed in 2013 with the aim of putting together a range of smart devices, from Amazon's Alexa to Philips' lightbulbs, on a unified platform. Its proprietary technology, which involves a mobile app and an API that allows third-party application integrations, has attracted a lot of attention in recent years, including a $5 million investment round in 2018.

Market Segmentation

The home automation sector has seen growth across product, applications, and standard segments owing to fast and efficient transport facilities and the population growth. To study the market, analysts have further segmented product, applications, and standard into product on the basis of lighting controls (dimmers, sensors, switches, relays, and others), access controls (smart card readers, smart locks, biometric readers, and others), surveillance products (security cameras, storage and monitoring devices, and others), HVAC controls(actuators, control valves, dampers, sensors, smart thermostat, smart vents, and others), other products (smart meters, smart smoke detectors, and others). The market is further segmented into the standard sub segment which is split into BacNet, DALI, EnOcean, Infrared, KNX, Wi-Fi, Z-Wave, and Zigbee. Additionally, the smart home and office market on the basis of applications is segmented into smart office (renovations, new construction) and smart home (renovations, new construction).

The segmental analysis presented in the report provides home automation field based organizations insights into key growth factors such as rapid urbanization as well as challenges such as unfavorable corporate policies the market will face from 2018 to 2025. Technological developments and consumers aiming for more safety and convenience are some of the key factors having an influence on home automation industry based companies, suggest analysts as per the smart home and office market report. But the report also identifies the lack of awareness among consumers and the high cost of product and maintenance as major threats companies in home automation will face till 2025. 

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Market Research Future (MRFR) is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

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