SAN FRANCISCO, July 4, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Smart Homes - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
What's New for 2022?
Edition: 9; Released: January 2022
Executive Pool: 11280
Companies: 42 - Players covered include Cisco Systems, Inc.; Control4 Corporation; Cortexa Automation, LLC; Crestron Electronics, Inc.; Emersion Electric Co.; FortrezZ; Guardian Protection Services, Inc.; Home Automated Living, Inc.; Honeywell International, Inc.; Lutron Electronics Co., Inc.; Monster, Inc.; Savant Systems LLC; Simply Automated Incorporated; Smarthome, Inc.; United Technologies Corporation (UTC); Universal Devices, Inc.; Vivint, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Application (Lighting Control, Security and Access Control, HVAC Control, Entertainment Control)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World
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Global Smart Homes Market to Reach $161 Billion by 2026
Amid the COVID-19 crisis, the global market for Smart Homes estimated at US$72.8 Billion, is projected to reach a revised size of US$161 Billion by 2026, growing at a CAGR of 14% over the analysis period. Lighting Control, one of the segments analyzed in the report, is projected to record a 13.7% CAGR and reach US$55.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Security and Access Control segment is readjusted to a revised 14.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $25 Billion in 2021, While China is Forecast to Reach $28.3 Billion by 2026
The Smart Homes market in the U.S. is estimated at US$25 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$28.3 Billion by the year 2026 trailing a CAGR of 13.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.3% and 12% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.3% CAGR.
HVAC Control Segment to Reach US$48.2 Billion by the year 2026
In the global HVAC Control segment, USA, Canada, Japan, China and Europe will drive the 14% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$17.3 Billion will reach a projected size of US$43.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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