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Global Smart Homes Market Report, Market Size, Share, Trends, Analysis and Forecast to 2028
Smart home gadgets are appropriate for a home setup where appliances may be controlled remotely from any location around the world with an Internet connection using a mobile or other networked device. Because a smart home's gadgets are all connected to the Internet, the consumer can control services like security access, temperature, lighting, and home entertainment. By enabling homeowners to operate smart gadgets, smart home technology, commonly referred to as "home automation," offers them security, comfort, convenience, and energy efficiency. Either the terms "home automation" or "smart homes" may refer to a variety of monitoring, controlling, and automating methods used in a home. Smart home systems require a web portal or an application for smartphones as a user interface to communicate with an automated system, in contrast to simple home automation solutions (which could range from motorised garage doors to automated security systems).
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Owing to increasing demand for automation solutions from residential applications, Asia Pacific is anticipated to expand at the highest CAGR throughout the projection period. The leading firms in the area are concentrating on collaborating with other well-known businesses to develop and market cutting-edge smart home products. Furthermore, the market's expansion is due to the area's growing standard of living and greater disposable income. Additionally, the rapid adoption of smartphones, the internet, and other cutting-edge technologies is expected to propel the region's market.
Some of the key players in Smart Homes market include Shenzhen Zhuohao Intelligent Electronic Development Co. Ltd (ACTOP), Control4 Corporation, Smarthome Inc., United Technologies Corporation, Lutron Electronics Co. Inc., Legrand SA, IBM Corporation, General Electric Company, Microsoft Corporation, Google Inc., Cisco Systems Inc., LG Electronics Inc., Siemens AG, Emerson Electric Co., Honeywell International Inc., Schneider Electric SE, ABB Ltd, Johnson Controls, Inc., Samsung Group and Ingersoll Rand.
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