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Europe Smart Home Market Trends

  • Report ID: GMI12046
  • Published Date: Oct 2024
  • Report Format: PDF

Europe Smart Home Market Trends

Europe's smart home market is booming, driven by exciting trends in technology and business. Imagine walking into a new apartment where smart features are already built-in - that's becoming the norm as real estate developers embrace these technologies. The devices themselves are getting smarter too, with better materials and connectivity making them work together seamlessly. AI is personalizing our homes, learning our habits and preferences. And it's not just about convenience; sustainability is a big focus, with smart systems helping to save energy and water. From voice-controlled lighting to intelligent thermostats and advanced security systems, smart homes are becoming more user-friendly and accessible to everyone. The market is also seeing a surge in health-related smart devices, like air quality monitors and sleep trackers, reflecting growing health consciousness among consumers. As 5G networks expand across Europe, they're set to supercharge smart home capabilities, enabling faster, more reliable connections for a truly interconnected living experience.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The European market for smart home was valued at USD 26 billion in 2023 and is expected to reach USD 108.1 billion by 2032, driven by a CAGR of over 17.6% from 2024 to 2032.

Entertainment devices accounted for approximately USD 6.5 billion in revenue in 2023 and are expected to grow at a CAGR of 17.1% during the forecast period, driven by the demand for integrated experiences.

Germany's market for smart home generated approximately USD 6.5 billion in revenue in 2023 and is expected to grow at a CAGR of 18% during the forecast period, driven by its strong economy and tech-savvy population.

Major players in the market include ABB Ltd, ASSA ABLOY AB, Deutsche Telekom AG, Emerson Electric Co., Honeywell International Inc., Johnson Controls, Legrand S.A., Loxone Electronics GmbH, Panasonic Corporation, Robert Bosch GmbH, and Samsung Electronics.

Europe Smart Home Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 83
  • Countries covered: 6
  • Pages: 160
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