The global smart home market is expected to reach an estimated US$107.4 billion in five years, with an annual growth rate of 9.5 percent from 2018 to 2023, according to a report by ResearchAndMarkets.
The global smart home market is expected to reach an estimated US$107.4 billion in five years, with an annual growth rate of 9.5 percent from 2018 to 2023, according to a report by ResearchAndMarkets.
The major growth drivers for this market are increasing awareness related to safety and security, increasing consumer need for simplicity and personalized experience, and the growing adoption of cloud-based technologies.
The future of the smart home market looks attractive with opportunities in the home safety and security, appliance, entertainment, lighting, HVAC, healthcare and kitchen applications, the report says.
Emerging trends include development of voice assistant technology for hi...