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Smart Home Market Size Worth $537.01 Billion by 2030: Grand View Research, Inc.SAN FRANCISCO, June 14, 2022 /PRNewswire/ -- The global smart home market size is projected to reach USD 537.01 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 27.0% from 2022 to 2030. The rising focus on energy conservation and reduced carbon emissions are anticipated to drive market growth during the forecast period.  Key Insights & Findings from the report:
Read 300-page market research report, "Smart Home Market Size, Share & Trends Analysis Report By Application (Security & Surveillance, Lighting, Entertainment, Energy Management, HVAC, Smart Kitchen, Home Fitness & Wellness), By Region And Segment Forecasts, 2022 - 2030", published by Grand View Research. Smart Home Market Growth & Trends The improved regulatory initiatives by governments for deploying smart home devices to save energy are encouraging people to adopt these products, thereby significantly impacting the market growth. For instance, in June 2020, the government of the U.K. released new plans to deploy smart meters in homes across the region, guaranteeing that consumers may continue to save money on their energy bills and carbon emissions once the coronavirus pandemic-induced lockdown is removed. The growing elderly population is expected to significantly impact the market growth for smart homes due to an increasing demand for smart devices o monitor and control their health and set reminders for their medicines and appointments with physicians. Increasing awareness regarding smart grids, higher personal income in developing economies, power line communication assistance, and the rise of the consumer electronics industry are factors likely to impact market growth positively. In developed and developing countries, smart home devices pose significant potential in the overall smart home industry. Increased adoption of IoT has led to a faster deployment of smart devices, such as control lights, thermostats, heating equipment, door locks, and others, to streamline the control and management of basic household chores. Furthermore, the growing need for a luxurious lifestyle in developing nations owing to increased disposable income and preference among consumers for energy-efficient devices is propelling the market growth. Smart Home Market Segmentation Grand View Research has segmented the global smart home market on the basis of application and region: Smart Home Application Outlook (Revenue, USD Billion, 2018 - 2030)
Smart Home Regional Outlook (Revenue, USD Billion, 2018 - 2030)
List of Key Players of Smart Home Market
Check out more related studies published by Grand View Research:
Browse through Grand View Research's Next Generation Technologies Industry Research Reports. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg 
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