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Smart Home Automation Technology Market Trends

  • Report ID: GMI9751
  • Published Date: Jun 2024
  • Report Format: PDF

Smart Home Automation Technology Market Trends

The smart home automation technology industry has the smart kitchen segment, which is experiencing significant growth, driven by the introduction of connected appliances such as smart refrigerators and automated cooking devices. These appliances offer convenience and efficiency, which are highly valued by consumers. Innovations like voice-controlled mixers and refrigerators with Wi-Fi connectivity are examples of how technology is transforming everyday kitchen activities. Smart home technologies are increasingly focused on energy management and environmental control. Smart thermostats, lighting systems, and window treatments are designed to optimize energy use and improve efficiency. For example, smart blinds can be programmed to adjust based on the time of day to maximize natural light and reduce energy consumption.|
 

Wireless technologies, such as ZigBee, Wi-Fi, and Bluetooth, are becoming the standard for smart home automation due to their ease of installation and flexibility. These technologies allow for seamless integration and communication between various smart devices, making it easier for homeowners to build and expand their smart home ecosystems. For instance, in April 2021, Wozart Technologies, a provider of home automation devices, launched affordable smart devices such as smart lighting, gates, curtains and sensors among other products, which helped their consumers save energy while maintaining functionality.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Industry size for smart home automation technology was USD 64.98 billion in 2023 and is estimated to witness over 11% CAGR between 2024 and 2032, as consumers are becoming more conscious of their energy consumption.

The wired technology recorded over 12% of the smart home automation technology industry share in 2023, due to their crucial role, particularly in scenarios where reliability, security, and minimal interference.

Smart home automation technology market from the home security and monitoring application segment is expected to reach over USD 75 million by 2032 driven by advancements in technology, increased consumer awareness, and the growing need for safety and security.

APAC industry size is expected to depict over 13% CAGR from 2024 to 2032 due to the presence of a manufacturing hub for electronics and automotive industries.

Smart Home Automation Technology Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 8
  • Tables & Figures: 288
  • Countries covered: 21
  • Pages: 250
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