The Asia Pacific Smart Home Devices Market would witness market growth of 19.8% CAGR during the forecast period (2023-2030).
Smart home devices encompass a wide range of products designed to automate and optimize various functions within the home. Rapid technological advancements, including the internet of things (IoT), artificial intelligence (AI), and wireless connectivity, have made it more accessible, affordable, and user-friendly.
Additionally, adoption of these devices has witnessed significant growth across the globe, driven by increasing consumer awareness, advancing technology, and changing lifestyles. Growing consumer awareness of the benefits and capabilities of it has fueled adoption rates.
Technology, the Government of India formulated a draft IoT Policy to develop connected and smart IoT-based systems. This policy launched a Smart City project, planning to develop 100 smart cities in the country by allocating INR 7,060 crores. Also, the Ministry of Electronics & Information Technology has approved Rs 436.87 Crore to implement the project titled Future Skill PRIME, which aims to create an ecosystem in 10 emerging and futuristic technologies, including IoT. As investment in IoT technology continues to grow, the market in India is poised for further expansion and evolution. Therefore, increasing investment in IoT technology and the growing industry in the region are driving the market's growth.
The China market dominated the Asia Pacific Smart Home Devices Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $31,394.1 Million by 2030. The Japan market is experiencing a CAGR of 19% during (2023 - 2030). Additionally, The India market would exhibit a CAGR of 20.5% during (2023 - 2030).
Based on Component, the market is segmented into Solutions, and Services. Based on Type, the market is segmented into Lighting Control, Security & Access Control, Home Appliances, Entertainment & Other Controls, Smart Kitchen, HVAC Control, Smart Furniture, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Smart home devices encompass a wide range of products designed to automate and optimize various functions within the home. Rapid technological advancements, including the internet of things (IoT), artificial intelligence (AI), and wireless connectivity, have made it more accessible, affordable, and user-friendly.
Additionally, adoption of these devices has witnessed significant growth across the globe, driven by increasing consumer awareness, advancing technology, and changing lifestyles. Growing consumer awareness of the benefits and capabilities of it has fueled adoption rates.
Technology, the Government of India formulated a draft IoT Policy to develop connected and smart IoT-based systems. This policy launched a Smart City project, planning to develop 100 smart cities in the country by allocating INR 7,060 crores. Also, the Ministry of Electronics & Information Technology has approved Rs 436.87 Crore to implement the project titled Future Skill PRIME, which aims to create an ecosystem in 10 emerging and futuristic technologies, including IoT. As investment in IoT technology continues to grow, the market in India is poised for further expansion and evolution. Therefore, increasing investment in IoT technology and the growing industry in the region are driving the market's growth.
The China market dominated the Asia Pacific Smart Home Devices Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $31,394.1 Million by 2030. The Japan market is experiencing a CAGR of 19% during (2023 - 2030). Additionally, The India market would exhibit a CAGR of 20.5% during (2023 - 2030).
Based on Component, the market is segmented into Solutions, and Services. Based on Type, the market is segmented into Lighting Control, Security & Access Control, Home Appliances, Entertainment & Other Controls, Smart Kitchen, HVAC Control, Smart Furniture, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
List of Key Companies Profiled
- Johnson Controls International PLC
- Schneider Electric SE
- Siemens AG
- Honeywell International, Inc.
- com, Inc.
- Apple Inc.
- Google LLC (Alphabet Inc.)
- Robert Bosch GmbH
- Raytheon Technologies Corporation
- Samsung Electronics Co., Ltd. (Samsung Group)
Market Report Segmentation
By Component- Solutions
- Services
- Lighting Control
- Security & Access Control
- Home Appliances
- Entertainment & Other Controls
- Smart Kitchen
- HVAC Control
- Smart Furniture
- Others
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Asia Pacific Smart Home Devices Market, by Component
Chapter 6. Asia Pacific Smart Home Devices Market, by Type
Chapter 7. Asia Pacific Smart Home Devices Market, by Country
Chapter 8. Company Profiles
Companies Mentioned
- Johnson Controls International PLC
- Schneider Electric SE
- Siemens AG
- Honeywell International, Inc.
- Amazon.com, Inc.
- Apple Inc.
- Google LLC (Alphabet Inc.)
- Robert Bosch GmbH
- Raytheon Technologies Corporation
- Samsung Electronics Co., Ltd. (Samsung Group)
Methodology
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