Europe's Smart Homes: Where Innovation Meets Comfort
“European Smart Home Market by Product (Lighting Controls, Security & Access Controls, HVAC Controls, Smart Speakers, Smart Kitchens, Home Appliances, Home Healthcare), Software & Service (Proactive, Behavioral) and Geography — Global Forecast to 2027”
published by MarketsandMarkets, the European smart home market is projected to grow from USD 26.7 billion in 2022 to USD 41.2 billion by 2027; it is expected to grow at a CAGR of 9.0% from 2022 to 2027. The key factors fueling the growth of this market include growing internet access in the European region, rising need for energy-saving and low-carbon emission-oriented solutions, an increasing number of manufacturers expanding their smart home product portfolios, ongoing proliferation of smartphones, surging importance of home monitoring, and increasing safety, security, and convenience offered by smart home products are driving need for them.
Browse 189 market data Tables and 58 Figures spread through 333 Pages and in-depth TOC on “European Smart Home Market by Product (Lighting Controls, Security & Access Controls, HVAC Controls, Smart Speakers, Smart Kitchens, Home Appliances, Home Healthcare), Software & Service (Proactive, Behavioral) and Geography — Global Forecast to 2027”
View detailed Table of Content here — https://www.marketsandmarkets.com/Market-Reports/european-smart-homes-market-1290.html
smart furniture is projected to grow at the fastest rate for the European smart home market during the forecast period
Smart furniture, often referred to as the future of furniture, is considered a prominent aspect of home automation, thereby creating numerous market growth opportunities. Despite being in its nascent stage, the market has shown signs of wide-scale adoption. Smart furniture offers various benefits such as enabling wireless charging for smart devices, listening to the radio, news or recipe searching, internet browsing, and calling, among others. Also, smart furniture enables monitoring of activities such as sitting or standing time and calories burnt by an inhabitant. This makes smart furniture far more advanced than conventional furniture. Continual technological advancements have resulted in incorporating features such as wireless smartphone charging, induction beverage warmers, and Bluetooth speakers integrated into single furniture, a factor further expected to strengthen the smart furniture market growth.
Germany is projected to grow at the fastest rate for the European smart home market during the forecast period
Germany is the economic powerhouse of Europe and plays a crucial role in the European smart home market for smart lighting. German population prefers well-equipped smart homes. Moreover, in the next 4–5 years, the number of new households is expected to rise, which can offer potential opportunities for new and innovative lighting solutions. Currently, there is ongoing research on future lighting for smart homes in Germany. Germany is among the leaders in the European energy-efficient lighting industry, ahead of Italy and France. The smart home market is expected to witness significant growth in the coming years, with Germany being one of the global hotspots. Being an early adopter of new technologies, Germany continues to lead the smart home market in Europe.
Honeywell (US), Siemens (Germany), Johnson Controls (Ireland), Schneider Electric (France), ASSA ABLOY (Sweden), Amazon (US), Apple (US), ADT (US), Robert Bosch (Germany), ABB (Switzerland), and Axis Communications (Sweden) are the key players in the European smart home market. These players are increasingly undertaking strategies such as product launches and development, expansions, partnerships, contracts, and acquisitions to increase their market share.
1 INTRODUCTION (Page No. — 37)
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 INCLUSIONS AND EXCLUSIONS
1.4 STUDY SCOPE
1.4.1 MARKET SEGMENTATION
FIGURE 1 EUROPEAN SMART HOME MARKET SEGMENTATION
1.4.2 PRODUCTS COVERED UNDER EACH MAJOR CATEGORY
1.5 YEARS CONSIDERED
1.6 CURRENCY
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. — 42)
2.1 RESEARCH DATA
FIGURE 2 EUROPEAN SMART HOME MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Primary interviews with experts
2.1.2.2 List of Key Primary Interview Participants
2.1.2.3 Breakdown of Primary Interviews
2.1.2.4 Key data from primary sources
2.1.2.5 Key Industry Insights
2.2 MARKET SIZE ESTIMATION
FIGURE 3 EUROPEAN SMART HOME MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION
2.2.1 TOP-DOWN APPROACH
2.2.1.1 Approach for capturing market size by top-down analysis (supply side)
FIGURE 4 TOP-DOWN APPROACH: MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 SUPPLY SIDE
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 — SUPPLY SIDE
2.2.2 BOTTOM-UP APPROACH
2.2.2.1 Approach for capturing market size by bottom-up analysis (demand side)
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 — DEMAND SIDE
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION
FIGURE 7 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
TABLE 1 ASSUMPTIONS FOR RESEARCH STUDY
2.5 LIMITATIONS
2.6 RISK FACTORS
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