Smart Home Platforms Market Projected To Reach USD 60.2 Billion By 2028


 San Francisco, 20 Oct 2022: The Report Smart Home Platforms Market Size, Share & Trends Analysis Report By Type (IoT Platform for Smart Appliances, IoT Platform for Security & Surveillance Systems), By Region, And Segment Forecasts, 2022 - 2028

The global smart home platforms market size is expected to reach USD 60.2 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 16.9% from 2022 to 2028. Improved experience gained by the users owing to the integration of smart home platforms is the key factor fueling the growth of the market. In addition, the use of smart home platforms allows remote control, thereby further driving the market. Concerns related to the security breach and unauthorized access to personal information and connected device of users is the major restraint for the market. Most of the key players operating in the market are adopting strategies such as adding new features to the platform, along with the development of new platforms that are compatible with various smart devices to capture maximum market share globally. 

The COVID-19 pandemic has positively impacted the market. Smart home platforms witnessed considerable growth due to the increasing implementation for monitoring patients being diagnosed with SARS-CoV-2 during the COVID-19 pandemic. Several smart platforms based on voice recognition are in the process of development. These platforms would have the capability to provide solutions regarding healthcare. It will also help in avoiding the further spread of SARS-CoV-2 and contribute to the growth of the global market. 

The IoT platform for the smart appliances type segment captured the largest revenue share of more than 65.0% in 2021. The IoT platform for smart appliances connects numerous smart appliances having the capability of edge computing and these appliances can be monitored and controlled from any place. In addition, the adoption of these platforms makes tasks fast, easy, and reliable. Therefore, their demand is high, thus contributing more to the market revenue. 

The Asia Pacific accounted for the largest revenue share of more than 35.0% in 2021. China is one of the major countries contributing to the large revenue generation in the Asia Pacific. China emerged as the major country for the maximum unit of shipments of smart home devices, thus it led to the larger implementation of software platforms for smart home devices. Rising smart homes in the region and the strong growth of regional GDP are some of the major reasons behind the high demand for smart home platforms in the region.

Access Research Report of Smart Home Platforms Market @ https://www.grandviewresearch.com/industry-analysis/smart-home-platforms-market-report

Smart Home Platforms Market Report Highlights

  • North America is expected to expand at the second-highest CAGR of 17.0% from 2022 to 2028. The increasing implementation of smart home systems leads to the increased adoption of smart home platforms
  • By type, the IoT platform for the security and surveillance systems segment is likely to register the second-highest CAGR of 16.7% from 2022 to 2028. It assists the consumers to monitor their surroundings or environment 24/7 for surveillance and security
  • The Asia Pacific accounted for the largest revenue share of more than 35.0% in 2021. The highest unit of shipments of smart home devices is resulting in the highest adoption of software platforms for those devices in the Asia Pacific 

List of Key Players in Smart Home Platforms Market

  • Apple Inc.
  • Google LLC
  • Cisco Systems, Inc.
  • Resideo Technologies, Inc.
  • com, Inc.
  • LG Electronics
  • Samsung Electronics Co. Ltd.
  • Siemens AG
  • Robert Bosch Smart Home GmbH
  • General Electrical Company

Access Press Release of Smart Home Platforms Market @ https://www.grandviewresearch.com/press-release/global-smart-home-platforms-market

 

Comments

Post a Comment

Popular posts from this blog

Asia Pacific PoC Diagnostics Market Growth Opportunities, Industry Analysis And Forecast: Grand View Research Inc.

Image
San Francisco, 18 March 2020 :  The Report   Asia Pacific PoC Diagnostics Market  Analysis And Segment Forecasts To 2020 The Asia Pacific point of care (PoC) diagnostics market is expected to reach USD 5,427.1 million by 2020, according to a new study by Grand View Research, Inc. Growing base of geriatric population and the ability to render immediate results and improve patient care coupled with rising market penetration of PACS (picture archiving and communication systems) and EMR (electronic medical records) are expected to drive demand over the next six years. Skilled staff shortages, especially pertaining to the field of diagnostics are also expected to accelerate the market penetration rates of PoC products, by expediting lab automation processes. Rising demand for home healthcare and other healthcare establishments catering to the elderly population and initiatives undertaken by governments to shorten hospital stays by establishing out-patient care models are also expect
Read more

U.K. Point Of Sale Software Market To Expand Industry Growth At USD 1.05 Billion By 2028

Image
  San Francisco, 21 Jan 2022:   The Report  U.K. Point Of Sale Software Market  Size, Share & Trends Analysis Report By Application (Fixed POS, Mobile POS), By Deployment, By Organization Size, By End-user, And Segment Forecasts, 2021 - 2028 The global U.K. point of sale software market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies. However, the COVID-19 pandemic disrupted the industry's business, wherein retail stores, restaurants, and hot
Read more