European Smart Home Market worth $39.6 billion by 2025

CHICAGO, August 7, 2020 / PRNewswire / – According to the new
Research report, the "European smart home market with
COVID-19 impact analysis by product (lighting control, security
& Access Control, HVAC Control, Home Healthcare), Software
& Services (proactive, behavioral) and region – global
Forecast to 2025 ",
published by MarketsandMarkets ™, the
The size of the European smart home market is expected to grow
USD 23.2 Billion in 2020 to
USD 39.6 Billions by 2025, at a
CAGR of 11.3%. The growth of the market is driven by many factors,
like an increasing number of internet users that is increasing
disposable income of people in developing countries that are increasing
Importance of home surveillance at remote locations and growing
Need for energy saving and low carbon emissions
Solutions. In addition, the rapid spread of smartphones &
Smart gadgets, expansion of the smart home product portfolio by a large one
Number of players, growing concerns about safety and security
Convenience in the general population will fuel the demand for it
Smart home solutions.

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The market for smart speakers is likely to grow strongly
during the forecast period. "

The growth of the smart speaker market is mainly driven by
the increasing adoption of smart homes, high disposable income that
popular trend of personalization and the rapid spread of
multifunctional devices. Factors such as increasing focus of
Companies to improve the customer experience and customer preference
for technologically advanced products are versus traditional products
is expected to provide opportunities for smart speaker providers.
Other current developments in artificial intelligence (AI) and
Natural language processing (NLP) to improve speech recognition
Skills have increased the general demand for smart speakers
in smart homes.

"The proactive software and service segment is growing
a higher rate over the forecast period. "

Proactive software and services facilitate the transfer
of data, along with the best possible solutions, to end users for
Actions to be taken after receiving the information. The proactive one
Type enables the transfer of a larger volume of data than the
Behavior type; It can provide input for end users regarding
effective energy consumption and required physical measures
Parameters to reduce energy consumption.

Proactive solutions are more beneficial than the behavioral type
as they can also send recommendation signals to end users
necessary measures to reduce energy consumption. It is also based on
The actions of the user can be measures to control electronic devices
implemented. Because of these advantages, the market for proactive art
Software and services are expected to grow faster over the course of the year
the forecast period.

Continue browsing the detailed table of contents ""European Smart
Home market "
150 – tables
57 – numbers
245 pages

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"The European smart home market is expected to grow by a year
significant rate during the forecast period. "

The pursuit of "green cities" brings more energy
Efficiency in most EU countries. This created a market
Opportunity for manufacturers of energy-efficient smart
Lighting solutions. Europe would
probably the leading user of LED solutions. An increase in
Construction activity followed by growth in new installations
of lighting fixtures and dimmers is driving the smart lighting market
in this region. In addition, some consumer and professional lighting
Companies are switching to LEDs. Have all of these factors
contributed significantly to increasing the demand for smart homes in
Europe.

The smart home market is currently dominated by Johnson
Controls International (Ireland),
United Technologies Corporation (USA), Schneider Electric
(France), Honeywell International,
Inc. (USA) and Siemens AG (Germany).

Other companies active in the smart home market are Amazon,
Inc. (USA), Apple Inc. (USA), Google (USA), ADT (USA), Robert Bosch
GmbH (Germany), ASSA ABLOY
(Sweden), ABB Ltd. (Switzerland), Ingersoll-Rand PLC (Ireland), ABB (Switzerland), Legrand
S.A.
(France), GE (USA), Comcast Corp. (USA), Hubbell Inc. (USA),
Samsung Electronics Co., Ltd. (south
Korea
), LG Electronics (south
Korea
), Sony (Japan),
Control4 Corp. (USA), Lutron Electronics Co. Inc. (USA), Vivint (USA),
and Axis Communication AB (Sweden), among other. Almost all companies
including the main actors have some important strategies such as
Product developments and launches, mergers and acquisitions as well
Partnerships and collaborations to grow in the smart home
Market.

Related reports:

HVAC Controls Market by System (Temperature, Ventilation,
Humidity, integrated controls), components (sensors and controls)
& Controlled Devices), implementation type (new building,
Retrofitting), Application, and Geography – Global Forecast to 2023

Smart Lighting Market through offer (Hardware: Lights &
Lights, lighting controls; Software and services),
Communication technology (wired and wireless), installation type,
End Use and Geography – Global Forecast to 2025

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