Global Smart Home Market Opportunities & Forecast 2016-2025 Global smart home market reached at USD 48.7 billi | Page 2

Based on Application, Home Appliances are expected to grow at the highest
CAGR through 2025
The rise in the disposable income coupled with changing lifestyles of people
worldwide has created huge demand for smart home appliances worldwide. The
household consumers are focussing more towards reducing their energy costs by
using these technologically advanced home appliances. Smart home appliances
have ability to connect to internet and can communicate effectively to the end-
user. The smart home appliances market is gaining attention from companies
across diverse sectors.
Apart from this, the lighting control held the largest share in the smart home
market in 2016. The increase in the adoption rate of intelligent lighting controls
by households worldwide has fuelled the growth of the market. These have the
ability to reduce electricity consumption as it consists of advanced sensors
which automatically adjusts the intensity of artificial light according to the
surroundings.
On the other hand, Entertainment Control is also witnessing a substantial growth
in the smart home market. The growth of market is attributed to the ease of
managing and controlling entertainment systems such as audio, volume,
multimedia room controls within a house. Also, the demand for home theatre
system controls has grown significantly owing to the advancement in wireless
communication technologies.
North America accounted for the largest share in the market in 2016
Increased demand for energy efficient systems and solutions, growing need for
advanced security and access control solutions as well as rising usage of
smartphones and tablets in smart home solutions can be attributed as the
potential reasons for the growth of smart home market in North American region
in 2016. United States is the key country in the region which has highest number
of smart homes. Asia-Pacific region is projected to grow at the highest rate