Product ID: UCMIR45I2150
Report ID:
UCMIR45I2150 |
Region:
Regional |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The smart home market in the Asia Pacific (APAC) region is expected to experience substantial growth, with a projected compound annual growth rate (CAGR) of 22.0% during the forecast period. Globally, the smart home market is anticipated to expand from USD 80.21 billion in 2022 to USD 338.28 billion by 2030. This rapid growth in the APAC smart home market is attributed to the increasing adoption of smart devices and the continuous development of innovative technologies. Within this market, smart devices are categorized into safety and security devices, energy and water control systems, climate control systems, lighting control solutions, and consumer electronics.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Technology Hardware, Storage & Peripherals by segment aggregation, the contribution of the Technology Hardware, Storage & Peripherals in Technology Hardware & Equipment and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIR45I2150