Smart Home as a Service Market is Anticipated to Grow at A CAGR of 15.4% From 2022 to 2032, Future Market Insights Inc.
The United States is expected to account for the highest Smart Home as a Service market valued at US$ 9.8 Bn by the end of 2032 with an expected CAGR of 16. Increasing need for monitoring and robust security at home has been shaping the growth of smart home as a service market.
NEWARK, Del., July 26, 2022 /PRNewswire/ -- The Smart Home as a Service Market revenues were estimated at US$ 5.5 Bn in 2021 and is anticipated to grow at a CAGR of 15.4% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 27.2 Bn. Integrated smart home as a service demand is projected to accelerate at over 16% during 2022 – 2032.
Technological improvements have enabled the creation of new services such as live stream monitoring, intrusion warnings, and fast updates that were previously unavailable with traditional systems. According to a 2015 Icontrol Network research, 90% of customers believed that home security system is the key motivation for smart home adoption.
Smart homes can drastically reduce domestic robberies, break-ins, and burglaries while preventing unwanted visitors out, making houses considerably safer. As a result, the increased security provided by smart homes is likely to drive the worldwide smart home as a service market over the forecast period.
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Key Takeaways from the Market Study
The sector for smart home as services market has been experiencing fierce competition with the introduction of new start-ups offering a diversified variety of creative solutions catering to different industrial requirements. Vivint, Inc., AT&T Inc, Comcast Corporation, CenturyLink Inc, and Charter Communications are some of the key smart home as a service companies.
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Some of the recent market developments include:
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Smart Home as a Service Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Smart Home as a Service Market in terms of Smart Home as a Service Market by Service (Managed, Integrated), Solution (Security and Access, Lighting and Window, Audio-Visual and Entertainment, Energy Management and Climate, Integrated), and across five regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).
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Market Segments Covered in Smart Home as a Service Market Analysis
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter's Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
4. Global Smart Home as a Service Market Analysis 2017-2021 and Forecast, 2022-2032
4.1. Historical Market Size Value (US$ Mn) Analysis, 2017-2021
4.2. Current and Future Market Size Value (US$ Mn) Projections, 2022-2032
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Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.