Europe smart home market to be more than USD 30.0 billion by 2025 Europe smart home market to be more than USD 30 | Page 2

Smart lighting applications are driving the growth of the Europe Smart home
market
Smart lighting applications are witnessing the significant growth in the Europe
smart home market. Since, energy saving is the driving trend of the smart home
market in the region. In 2017, about one- third of the market share in the Europe
smart home market was held by the lighting applications market and it is
expected, that lighting applications will continue to dominate the market during
the forecast period.
Growing demand for personalized healthcare solutions, mobile healthcare
facilities, and fitness support systems are driving the home healthcare market.
In addition, the home healthcare devices are experiencing significant growth
from the smart healthcare devices which support remote monitoring of the
disabled, elderly people, and children at home. It is expected that the home
healthcare segment will grow at an estimated CAGR of 12.9% during the forecast
period.
“It is foreseen, that Europe’s insurance market will get benefited from Europe’s
smart home market in coming years, due to the growing demand from the
consumers of getting insurance cover for the services such as water leakages
and lighting fixtures, apart, from the insurance coverage of the hardware and
software components of the connected smart home devices”.
—-GMI Research
Based on countries, Germany held the largest share in the market in 2017 due to
the growing number of millionaires and the presence of high spending
consumers. Further, the growing penetration of smartphones, smart surveillance
cameras, and wearable activity trackers are likely to boost the growth of the
smart home market in Germany. It is projected, that the UK market will be the
fastest growing smart home market during the forecast period.