DALLAS, Nov. 04, 2018 (GLOBE NEWSWIRE) — According to a new market report published by Lucintel, the future of the smart home market looks attractive with opportunities in the home safety and security, appliance, entertainment, lighting, HVAC, healthcare, and kitchen applications. The global smart home market is expected to reach an estimated $107.4 billion by 2023 with a CAGR of 9.5% from 2018 to 2023. The major growth drivers for this market are increasing awareness related to safety and security, increasing consumer need for simplicity and personalized experience, and the growing adoption of cloud-based technologies.
Browse 87 market data tables and 82 figures spread through 169 pages and in-depth TOC on â€śGlobal Smart Home Marketâ€ť at https://www.lucintel.com/smart-home-market-2018-2023.aspx
Lucintel forecasts that the safety and security market is expected to remain the largest segment due to the increasing need for continuous monitoring services to reduce the risk of crime, burglary, and theft. The entertainment segment is expected to experience the highest growth rate during the forecast period, supported by the increasing need of advanced technology that can provide a single platform for high level of control, flexibility, and deliver the best entertainment experience. Download Free PDF Brochure @ https://www.lucintel.com/smart-home-market-2018-2023.aspx
Asia Pacific is expected to be the largest region with the highest growth over the forecast period due to the increasing adoption of cloud based technologies and increasing awareness related to safety and security. Increasing population, urbanization, rising standard of living, and increasing government expenditure on smart cities will further spur the growth in this region. Pre-Purchase Query click https://www.lucintel.com/smart-home-market-2018-2023.aspx
Emerging trends, which have a direct impact on the dynamics of the pultrusion industry, include strategic collaboration of pultruded parts manufacturers with OEMs to serve unique needs and find new application areas. Honeywell, Philips, Acuity Brands, and Vivint Inc are among the major suppliers of smart homes.
Lucintel, a leading global market research firm has analyzed and forecasted growth opportunities for the global smart home market by application, product and service, technology, and region, and has compiled a comprehensive research report entitled â€śGrowth Opportunities in the Global Smart Home Market 2018-2023: Trends, Forecast, and Opportunity Analysis.â€ť The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at email@example.com.