Global Smart Home Devices Market

The smart home security systems market consists of sales of smart home security devices and related services. Smart home security devices can be connected to Wi-Fi and accessed from anywhere using smartphones, smartwatch or voice. The security devices produced includes devices such as smart alarms, smart cameras, smart locks, smart detectors, and others. This market does not include the installation of these devices and/or integration with the home set-up. The main products of smart home security systems are smart alarms, smart camera and monitoring system, smart locks and sensors, and smart detectors. A smart alarm is a system that uses wireless technology, home networks, and mobile phones to integrate security with day-to-day life. The components of smart home security systems are hardware, software, and service. The various type of applications are in independent homes, apartments and condominiums. The global smart home security market size is expected to grow from $2.69 billion in 2021 to $3.27 billion in 2022 at a compound annual growth rate (CAGR) of 21.6%. The change in the smart home security systems market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $6.81 billion in 2026 at a CAGR of 20.1%. The smart home security market is driven by increasing crime rates across the globe. With the increasing crime rates, the consumers are increasingly focusing on safety and security systems especially in residential areas. Smart home devices such as smart alarms, smart cameras, and smart lockers are being preferred by the households to be more safe and secure. According to home burglary statistics, 88% of all burglaries are residential in nature and there is 300% possibility of theft in homes without security systems. According to a NCRB’s 2019 crime statistics, in 2019, 1,833 violent crimes were registered in the Himachal. The high installation costs of smart home security devices is restraining the growth of smart home security market. Being a relatively new technology, the setup cost for smart home security systems and the cost of other related expenses such as utilities, maintenance, and repair of the technology are high as well. Cost of home security devices depends on the plan of the installation and size of the property. Installation of alarm systems and security cameras is more expensive when compared to other smart home security devices. The basic smart home security system consisting of a burglar alarm, thermostat, outdoor lighting and a backdoor lock which can be controlled from remote device costs $2,500. And an advanced and high-end security and home automation systems cost $1.8 million. For instance, in 2019, the cost range for installation of basic security cameras is $663 - $2,019. Smart home security systems manufacturers are increasingly integrating technologies with visual recognition based on AI (Artificial Intelligence) in security devices. AI is developing to a new stage where the security confirmation and authentication will be processed from face and visual recognition. Home security systems such as consumer video cameras are integrated with AI technology with a new security validation framework to enhance safety and security through facial recognition, fingerprints and voice recognition. AI is proposed to be applied in smart alarms to create databases of all incoming alerts, which then could be analyzed to predict false alarms. For instance, in 2019, SimCam Lab, a home security and automation system provider, presented the SimCam home security and home automation camera that utilizes AI "SimCam Alloy" for recognizing faces and monitoring pets, objects and others. California's Senate Bill 327, states the security regulations to be followed for all devices that connect to the internet including smart home security systems. The bill requires the manufacturer of such a device to be equipped with appropriate security features, designed to prevent unauthorized access, modification, or information disclosure. The bill states that the information collected by the device should be appropriate and protected from unauthorized use. Also, if the device needs to be used outside the local area network, the user should generate a new password other than the one allotted to it by default, in order to prevent attack by hackers. This bill is proposed to be effective from January 1, 2020, in California, US. In September 2021, Security Alarm Corporation (SAC), a commercial and residential systems integration company, acquired Alert Alarm Systems Plus, Inc. (AASP) of Sarasota FL. The goal behind this acquisition is to expand the Gulf Coast and AASP market of the company. Alert Alarm Systems Plus, Inc. company offers security control equipment and monitoring services. Major players in the smart home security systems market are ADT, Amazon, Honeywell International, Hangzhou Hikvision Digital Technology, Frontpoint Security Solutions, Ring, Samsung, Vivint Smart Home Security, Simpli Safe, Robert Bosch, Protect America, Alphabet, Apple, Comcast, Netgear, Skybell Technologies, Alarm.com, Canary connect, AT&T, August Home, Google, Butterfleye, Tyco security products, Livewatch security, G4S, Cocoon labs, Legrand and Ingersoll Rand. The regions covered in the smart home security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smart home security systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global smart home security market is segmented - 1) By Product: Smart Alarms, Smart Camera and Monitoring System, Smart Locks and Sensors, Smart Detectors 2) By Application: Independent Homes, Apartments, Condominiums 3) By Component: Hardware, Software, Service

The home automation market consists of sales of home automation devices by entities (organizations, sole traders, and partnerships) that use hardware and software technologies that allow users to control and manage their home's appliances and devices. A home automation system is a technological solution that allows the majority of electrical, electronic, and technology-based activities in a home to be automated. Home automation is also referred to as domotics, and a home equipped with an automation system is referred to as a smart home. The main types of products in home automation are lighting control, security and access control, HVAC control, entertainment and others. Lighting controls are a type of smart lighting gadget that allows users to adjust the amount, quality, and features of light in a specific area. These smart devices help to cut down on electricity waste while also promoting energy efficiency. The different technologies include wired home automation system and wireless home automation system and is implemented in various areas such as residential, commercial and others. The global home automation market size is expected to grow from $54.41 billion in 2021 to $61.62 billion in 2022 at a compound annual growth rate (CAGR) of 13.3%. The change in the home automation market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $95.07 billion in 2026 at a CAGR of 11.4%. The increasing use of internet of things (IoT) devices in a home automation system are expected to propel the growth of the home automation market in the forecast period. The Internet of Things based home automation system uses internet protocols or cloud computing to operate all of the smart home's equipment. The IoT-based home automation system has numerous advantages over wired systems, including flexibility, ease-of-installation, avoidance of the complexity of flowing through wires or weak electrical wiring, easy problem detection and triggering, and, most all, mobility. For instance, according to the Ericsson statistics on IoT in modern homes, consumer devices accounted for 63% of all installed IoT equipment in 2020 and the number of mobile IoT connections is predicted to reach 3.5 billion by 2023. Therefore, the increasing use of IoT devices in home automation systems drive the growth of the home automation market. The growing technological advancements are shaping the home automation market. Major companies operating in the home automation sector are focused on developing technological solutions for home automation to strengthen their position. For instance, in December 2019, Crestron Electronics, a US-based manufacturer and distributor of audiovisual automation and integration equipment launched Horizon EX Dimmers and Keypads based on wireless mesh technology. The new series of wall-box controllers, which includes matching dimmers and keypads, provides an innovative custom control solution as part of a complete Crestron smart home. In June 2020, Jersey Telecom (JT) Ltd., a UK-based telecommunications company acquired Zero1 for an undisclosed amount. Through this acquisition, Jersey Telecom expanded its intelligent engineering and home automation service offerings. Zero1 is a designer and supplier of environment and entertainment automation systems for homes and businesses in the Channel Islands. Major players in the home automation market are ABB, Crestron Electronics Inc., Schneider Electric, Honeywell International Inc., Johnson Controls Inc., Siemens AG, Legrand, Control4, Home Brain, Savant Systems Inc., Lutron Electronics Company, Sauter AG, United Technologies Corporation, Bosch Security and Safety Systems, Silvan Innovation Labs, Elan Home Systems LLC, Fueb and Harman International. North America was the largest region in the home automation market in 2021. The regions covered in the home automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the home automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global home automation market is segmented - 1) By Product: Lighting Control, Security and Access Control, HVAC Control, Entertainment, Others 2) By Technology: Wired Home Automation System, Wireless Home Automation System 3) By End-User: Residential, Commercial, Others

The smart dishwashers market consists of sales of smart dishwashers and related services that are used in commercial and household. A smart dishwasher is a linked smart home appliance (such as a smart microwave or smart oven) that gives your regular dishwasher enhanced features, such features can include Wi-Fi access and options for versatility such as voice control from an activated virtual home assistant and mobile controls. The main types of smart dishwashers are small size freestyle smart dishwashers and large-scale freestyle smart dishwashers. Small size freestyle smart dishwashers are smaller in size and usually used by residential users. The smart dishwashers are used in household and commercial applications and are distributed through online and offline channels. The global smart dishwashers market size is expected grow from $4.87 billion in 2021 to $5.22 billion in 2022 at a compound annual growth rate (CAGR) of 7.1%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The smart dishwasher market is expected to reach $6.82 billion in 2026 at a CAGR of 6.9%. The increasing importance of kitchen renovation or remodeling is a key factor driving the growth of the smart dishwashers market. Changing lifestyles and preferences of consumers due to rapid urbanization is resulting in kitchen renovation or remodelling. The interest to create a modular kitchen is leading to the rapid growth of clever kitchen appliances such as cooking utensils, cookery and dishwasher. According to Hamerville Media Groupn, the proliferation of smart dishwasher’s in U.K and Germany stood at 43.1% and 54.9% respectively in 2019. Therefore, the increasing importance of kitchen renovation or remodelling is expected to drive the growth of the smart dishwashers market The high repair cost is a key factor hampering the growth of the smart dishwasher’s market. Each brand, for instance Samsung, Whirlpool, Bosch, among others, has different manufacturing costs for replacement parts and that can have a drastic effect on repair bill. The shipping of the required part might be expensive and time-consuming as well. Also, the repair cost depends on the issues such as faulty codes, faulty motors, drainage, and worn gasket. Therefore, the high repair cost is expected to hinder the growth of the smart dishwashers market. The Wi-Fi enabled smart dishwashers is a key trend in the smart dishwashers market. The Wi-Fi enabled dish washer allows owners to manage the cleaning process, enabling them to begin and track cycles remotely via phone or tablet. For instance, LG Wi-Fi enabled smart dishwashers come with built-in SmartThinQ technology that provide mobile alerts when a process is over. The SmartThinQ technology is integrated with Google Assistant and Amazon Alexa, and therefore the status can be checked through voice commands without the requirement of any manual activities. In 2020, Whirlpool has introduced Whirpool WFC3C24PUK dishwasher with the company's 6th Sense Technology that uses sensors to detect how dirty the plates are and change the settings accordingly. The wi-fi enabled smart technology dishwashers deliver excellent cleaning results with time, energy & water savings. In October 2020, KONKA, a Chinese manufacturer of electronics products headquartered in Shenzhen, Guangdong acquired Beko Changzhou Plant and reached a strategic corporation agreement to share their developments related to systematic washing machine design. Major players in the smart dishwashers market are Samsung, BSH, GE, Whirlpool, LG, Electrolux, Miele & Cie, Robert Bosch GmbH, Panasonic, and Haier Group Corporation. Asia Pacific was the largest region in the smart dishwashers market in 2021. Western Europe was the second-largest region in the smart dishwashers market. The regions covered in the smart dishwasher market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smart dishwashers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global smart dishwashers market is segmented - 1) By Type: Small Size Freestyle Smart Dishwashers, Large-Scale Freestyle Smart Dishwashers 2) By Application: Household, Commercial 3) By Distribution Channel: Offline, Online

The smart LED bulbs market consists of sales of smart LED bulbs and related services that are used in indoor and outdoor lighting. The smart LED bulb establishments are primarily engaged in the manufacturing smart LED bulbs and required accessories. Smart bulb is an internet-enabled LED light bulb that allows the lighting to be personalized, programmed and regulated. The technologies used in smart LED bulbs are wired technology and wireless technology. Wired technology smart LED bulbs are connected through wires. It is applied in both indoor lighting, outdoor lighting and installed as new installation and retrofit. The global smart LED bulbs market size is expected grow from $8.89 billion in 2021 to $11.08 billion in 2022 at a compound annual growth rate (CAGR) of 24.6%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The smart LED bulb market is expected to reach $25.06 billion in 2026 at a CAGR of 22.6%. The development of smart cities is a key factor driving the growth of the smart LED bulbs market. The lighting of smart cities will play a major role in the future growth and the future of street lighting systems in smart cities will be LED lighting network. With the rise of smart cities, the lighting controls industry will be driven as countries will witness a revolution in the areas of light management. For instance, in 2019, the Indian government is committed to creating 100 smart cities, and as part of the US$ 14 billion plan, 99 cities have already been announced. Therefore, the development of smart cities is expected to drive the smart LED bulbs market. The higher cost of installation of smart LED bulbs is a key factor hampering the growth of the smart LED bulbs market. The initial cost of integrating or replacing the lighting system in industrial installations is high, especially for small and medium-sized industries. Popular brands of smart LED bulbs such as Philips Hue and LIFX can at times charge as much as $60 per bulb, depending on factors such as form, size and whether they can produce different colours or simply varying shades of white. Therefore, higher cost of installation is expected to limit the growth of the smart LED bulbs market. The Wi-Fi enabled LED bulbs is a key trend in the smart LED bulbs market. Wi-Fi-enabled LED bulbs connect to the home router and therefore, do not need a network that cuts down on clutter and problems. Wi-Fi capable lights can be operated easily through the brand-connected application. They can also be used with smart assistants, like Alexa and Google, to monitor the lights. Lifx is one of the upcoming players for Wi-Fi LED lights, the brand is widely seen as Philips' top competitor, leading the way in new, intelligent lighting. Although Lifx lights are more expensive than the products of Philips, they burn brighter, last longer, and give off infrared light in the dark, making them suitable for outdoor and porch fixtures near security cameras. In October 2019, Signify, the world leader in connected LED lighting systems, software and services, acquired Eaton Corporation for $1.4 billion in cash. Through this acquisition Signify estimates that the Cooper deal will increase its revenues from the Professional sales sector from 42% to 53% of total sales. Increasing that sector revenue share will presumably rise the margins significantly. Eaton Corporation, an Ireland based company, provides energy-efficient solutions that help customers effectively manage electrical, hydraulic and mechanical power more efficiently, safely and sustainably. Major players in the smart LED bulbs market are Legrand S.A., Acuity Brands Inc., Eaton Corporation, General Electric Company, OSRAM Licht, Honeywell International Inc., Hubbell Incorporated, Koninklijke Philips N.V., Cree Inc., and Lutron Electronics. Asia Pacific was the largest region in the smart LED bulbs market in 2021. Western Europe was the second-largest region in the smart LED bulbs market. The regions covered in the smart LED bulbs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smart LED bulbs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global smart LED bulbs market is segmented - 1) By Technology: Wired Technology, Wireless Technology 2) By Application: Indoor Lighting, Outdoor Lighting 3) By Installation Type: New Installation, Retrofit

The smart lighting market consists of sales of smart lighting and related services by entities (organizations, sole traders and partnerships) that manufacture smart lighting products used in homes, hospitals, hotels and other types of buildings. Smart lighting is a lighting that can be controlled through an app that is installed in smartphones, tablets or through voice assistant devices such as Amazon Alexa, Google Assistant, Apple Siri and similar other devices. The smart lighting is of different types such as smart bulbs, fixtures and lighting controls and provide light through various sources such as LED, HID and other light sources. Smart bulbs are controlled using an app or smartphone to turn on and off. Smart lighting use two types of communication technology such as wired and wireless and applied across commercial, governmental, residential and other areas. The global smart lighting market size is expected grow from $11.03 billion in 2021 to $13.15 billion in 2022 at a compound annual growth rate (CAGR) of 19.3%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The smart lighting market is expected to reach $26.21 billion in 2026 at a CAGR of 18.8%. Government support in developed and developing economies drive the growth of the smart lighting market. The growth of the smart lighting market in emerging markets is reinforced by the increase in disposable incomes, regulatory support in using energy-efficient lights, and the incorporation of advanced technologies. A smart lighting system confirms high-cost savings and lower energy consumption. In 2015, the Indian government launched the UJALA (Unnat Jyoti by Affordable LEDs for All) to encourage efficient use of energy at the residences and increase the consumers’ awareness about the efficiency of using energy-efficient appliances. Under the UJALA scheme by 6th March 2020, the government was able to distribute over 360 million total LED (light-emitting diode) bulbs saving over USD 2.8 billion (INR 18,801 crores). Therefore, supportive government plans increase the demand for smart lights thus propelling the market for smart lighting. The harmful effects of smart lights such as LEDs on health restricts the growth of smart lighting market. Smart lights such as LEDs uses shortwave light, often called “cool” in color. The prolonged continuous exposure to this light may damage the vision of a person. According to the French Agency for Food, Environmental and Occupational Health & Safety (ANSES) in 2019, the blue lights which is being used in households, offices, headlights, torches, toys and street lighting can damage the eye's retina while disturbing biological and sleep rhythms. The report also concluded that an increased exposure to the blue light emitted from LEDs increases the risk for age-related macular degeneration. Macular degeneration is an eye disease that can cause vision loss in adults. These harmful effects of LEDs on health negatively impacts the demand for the light emitting diode (LED), affecting the growth of smart lighting market. The use of Li-fi (Light Fidelity) network is the latest trend in the general lighting market. Li-Fi is a wireless optical networking technology that uses light-emitting diodes (LEDs) for data transmission. The Li-fi bulbs are equipped with a small chip that modulates the light used for data transmission. The common household LED light bulbs are used to enable data transfer with speeds up to 224 gigabits per second. Keeping up with the trend, in 2020, Light Rider Inc., a quantum Li-Fi company announced the launch of two quantum encryption products called the Light Rider LT and Light Rider Quantum. The company is the first to combine Li-Fi, a wireless communication technology that utilizes light to transmit data between devices, and quantum technology. In March 2020, Signify, headquartered in Netherland, specializing in LED lighting systems and services acquired Cooper Lighting for a deal amount of $1.4 billion on a cash and debt-free basis. The deal strengthens Signify’s market positions in North America, with increased innovation power and more competitive offerings. Signify will focus on integrating Cooper Lighting and on delivering synergies. Cooper Lighting is headquartered in United States and specialises in professional lighting, lighting controls, and connected lighting. Major players in the smart lighting market are Koninklijke Philips NV, Cree Inc., General Electricity Company, Acuity Brands Inc., Cisco Systems Inc., Eaton, Deco Lighting, Dialight, Honeywell Inc., and Osram Licht AG. North America was the largest region in the smart lighting market in 2021. Western Europe was the second-largest region in the smart lighting market. The regions covered in the smart lighting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smart lighting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global smart lighting market is segmented - 1) By Product: Smart Bulbs, Fixtures, Lighting Controls 2) By Application: Commercial, Government, Residential, Others 3) By Light Source: LED, HID, Others 4) By Communication Technology: Wired, Wireless

The smart microwave ovens market consists of sales of smart microwave oven and related products which include Grill Microwave Oven, Convection Microwave Oven, Microwave/Light-wave Oven and more. Smart microwave ovens are programmed to connect to smart appliances such as phone apps, phone, smart dishwashers, smart speakers and more by which instructions to oven can be given through smart phones and without the need for manual instructions. The companies engaged in manufacturing of smart microwave ovens design, manufacture and market smart microwave oven with Bluetooth, Wi-Fi-enabled, near-field communication and more technologies which enables the consumer to operate the smart device from anywhere for household and business users. The main types of smart microwave ovens are grill microwave oven, convection microwave over, microwave/light-wave over and others and use technology such as Bluetooth, Wi-Fi and NFC. Grill microwave oven use smart technology for grilling and help save time and space. The smart microwave ovens are distributed through hypermarket and supermarket, specialty store, online store and other channels and used by both commercial and personal users. The global smart microwave ovens market size is expected grow from $3.11 billion in 2021 to $3.33 billion in 2022 at a compound annual growth rate (CAGR) of 7.1%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The smart microwave oven market is expected to reach $4.3 billion in 2026 at a CAGR of 6.9%. With increasing consumer preference for technologically advanced products there is a rise in penetration of smart home appliances like smart microwave ovens. The smart microwave oven is gaining interest among consumers as it is remotely accessed and operated with a user-friendly interface. Most manufacturers smart home appliances can communicate with Alexa, iOS, Droid, Dash, Nest and Google Home through which instructions can be given to the smart oven. In 2019, GE announced that its microwave ovens can be operated with Google Assistant using voice commands. Manufacturers are being encouraged to produce innovative and advanced products with customer interest to accept and adopt emerging technology which is expected to drive the market growth. In 2020, Sharp Home Electronics Company of America (SHCA) announced the launch of first smart countertop microwave oven that feature Wi-Fi connectivity and Alexa compatibility for easy hands-free operation. The new smart microwave also responds to voice commands. Cybersecurity paves risk to any smart appliance market with hackers providing a way to operate the appliance to cause harm to the user in any means. The smart microwave ovens can be set to pre-heat or can be controlled for temperature adjustments remotely which means a hacker can potentially cause harm to the user. In 2019, hackers targeted Sony's X800G smart TV, using a Javascript OOB read bug to exploit the television's built-in web browser, by doing this the team earned $15,000. In 2019, June Oven, a smart oven of June was reported to pre-heat by itself without the interference of the user overnight. The safety issues arising due to cyber-attacks might hinder the smart microwave ovens market growth during the forecast period. Scan-to-cook feature is a technology which makes the preparation and cooking of pre-packaged and frozen foods easier with a scan of the barcode over the package by the smart phone with the use of an associated app. The customized and recommended instructions are sent to the microwave oven with a barcode scan which results in perfection of the meals being prepared. In 2019, Amazon launched Alexa smart oven with Scan-to cook feature which is a combination of microwave, convection cooker, air fryer, and food warmer which works well with many pre-packaged foods those by Amazon-owned Whole Foods as well. Whirlpool introduced the first scan-to-cook technology into the market. Further, in 2021, LG announced the launch of Double Oven Gas Slide-in Range and Over-the-Range Microwave Oven with scan-to-cook feature. The brand has partnered with Boston-based AI start-up Foodspace Technology to develop scan-to-cook feature. With a busy lifestyle globally, many families prefer frozen foods for meals and with the advantage of Scan-to-cook feature the user need not depend on frozen food preparation instructions which takes guesswork out of cooking and results in perfection which is expected boost the demand of smart microwave ovens market. In 2019, LG Electronics USA, Inc., a South Korea-based leading manufacturer of home appliances, consumer electronics and mobile communications partnered with Tovala. The partnership of integrating Tovala IQ™ technology into LG smart ovens benefits both the companies and the customers as the customers can scan the Tovala's food package barcode to extract the data from Tovala's database for the final preparation of the food. Tovala, a US-based all-in-one appliance and gourmet meal service which aims at simplifying home cooking with the meals prepared by professional chefs and delivered to doorstep which require few minutes for final preparation. Major players in the smart microwave ovens market are Electrolux AB, Whirlpool Corporation, LG Electronics, Breville USA Inc., Panasonic, GE(Haier), Sharp, SAMSUNG, Robert Bosch, BSH Home Appliances Corporation, Dacor Inc. Asia Pacific was the largest region in the smart microwave ovens market in 2021.Western Europe was the second-largest region in the smart microwave oven market. The regions covered in the smart microwave oven market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smart microwave ovens market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global smart microwave ovens market is segmented - 1) By Product Type: Grill Microwave Oven, Convection Microwave Oven, Microwave/Light-Wave Oven, Others 2) By Technology: Bluetooth, Wi-Fi, NFC 3) By Distribution Channel: Hypermarket and Supermarket, Speciality Store, Online Store, Others 4) By End-User: Commercial, Personal

The smart apartments market consists of sales of smart apartments and related services. Smart apartments have connectivity to smart amenities such as smart lights, smart locks, integrated services like home cleaning within an apartment. The smart apartment comprises smart devices such as smart locks, smart thermostats, smart lights, smart TVs, blinds, cameras and kitchen appliances. A smart apartment also involves the use of technology that can be reprogrammed frequently based on the resident's lease agreements. The main types of products in smart apartments are building management system (BMS), heating, ventilating, and air conditioning (HVAC), lighting control, security and access control, emergency alarm and evacuation system, and audio and visual effects. Lighting controls are a class of smart lighting systems that can manage the amount, quality, and characteristics of light in a specific area. These smart devices help to reduce electricity waste while also boosting energy efficiency. Smart apartments are used in residential, hotels, and others. The global smart apartments market size is expected to grow from $2.29 billion in 2021 to $2.67 billion in 2022 at a compound annual growth rate (CAGR) of 16.4%. The growth in the smart apartments market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The smart apartments market is expected to reach $4.71 billion in 2026 at a CAGR of 15.3%. The smart apartments market is driven by the increased use of IoT (Internet of Things) devices by people in every aspect of their daily routine. IoT involves sending and receiving data by a network of sensors, appliances, meters and other devices. The IoT-enabled sensors and devices are used to increase the efficiency of the appliances in a smart apartment making it more efficient, sustainable, safer such as a few IoT-enabled sensors are capable of automatically turning the lights on after sensing the presence in a room thus adding a distinctive attribute to the smart apartments. Thus, the increased adoption of IoT technology boosts the growth of the smart apartments market. For instance, the global spending on IoT across markets grew 12.1% in 2020 to $128.9 billion. Thus, the increased demand for IoT devices that help ease the lifestyle boosts the growth of the smart apartments market. The risk of potential cyber-attack leading to a breach in privacy restricts the growth of the smart apartments market. A smart apartment uses a complex network of devices connected over the internet that uses sensors and controllers which are used to control the ventilation systems, heating systems, lighting, water, video surveillance systems, alarms, and other critical functions. Thus, any security breach caused due to malicious cyber-attack affects the remote monitoring of temperature, system performance, and other variables of a smart building and intruding privacy of the residents. Any breach in cybersecurity of a smart apartment may result in the exploitation of remote access privileges to gain access to the facility. For instance, in 2019, a lawsuit was filed against Ring, a USA-based Amazon-owned provider of home security and smart home, where the plaintiff claimed that his Ring smart video doorbell was hacked by a hacker from outside. The hacker used it to communicate with the plaintiff's family members. The incident raises issues regarding the safety of smart appliances installed in smart residential buildings. Thus, the growth of the smart apartments market is restricted by the risk of cyber-attack causing privacy breach. The concept of using an Apartment as a Service (AaaS) is the latest trend driving the smart apartments market. In the apartment as a service concept, fully furnished smart apartments are rented for very short to long periods of stays. It helps to offer a cost-effective solution for tenants to live in a smart apartment. Using apartment as a service enables the rental operators to streamline their operations and costs thus enhancing the resident’s experience and discovering new revenue streams for the owner. For instance, as reported by Entrata, a USA based provider of property management software, in the USA, almost 57% of apartment tenants can pay up to $20 per month if smart technology was installed in an apartment. In 2019, Control4 Corporation, a USA-based provider of automation and networking systems for homes and businesses, acquired NEEO for an undisclosed amount. Through the acquisition, Control4 Corporation aims to expand its product line by adding remotes, touch panels, keypads, and other smart home devices from NEEO’s product portfolio. NEEO is a Switzerland based provider of home automation, electronics, consumer electronics, and smart home automation. Major players in the smart apartments market are Johnson Controls, ABB Ltd., Siemens AG, Honeywell International Inc., Hitachi, IBM, Schneider Electric, Hewlett-Packard, TYCO International, Siemens, Legrand SA. Asia Pacific is the largest region in the smart apartments market in 2021. Africa is expected to be the fastest-growing region in the forecast period. The regions covered in the smart apartments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smart apartments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global smart apartments market is segmented - 1) By Product: Building Management System (BMS), Heating, Ventilating, And Air Conditioning (HVAC), Lighting Control, Security And Access Control, Emergency Alarm And Evacuation System, Audio And Visual Effects 2) By Application: Residential, Hotel, Other

The smart buildings (nonresidential buildings) market consists of sales of nonresidential smart buildings and related services. Smart buildings have automated processes and increase operational efficiency of a non-residential, commercial as well as industrial buildings. Smart buildings (nonresidential) involve the use of sensors, actuators, microchips to automatically control the processes of the building such as heating, ventilation, air conditioning, lighting, security and other systems. The main types of products in smart buildings (nonresidential buildings) are institutional buildings, and commercial buildings. Commercial buildings are structures, such as office buildings, retail space, and warehouses, where commercial activity takes place. The different types of automation include intelligent security system, building energy management system, infrastructure management system, network management system and are used in government, airports, hospitals, institutes manufacturing & industrial facilities, other applications. The global nonresidential smart buildings market size is expected to grow from $49.54 billion in 2021 to $53.50 billion in 2022 at a compound annual growth rate (CAGR) of 8.0%. The growth in the smart buildings market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The smart buildings (nonresidential) market is expected to reach $69.45 billion in 2026 at a CAGR of 6.7%. The nonresidential smart building market is driven by the increasing demand to automate tasks by using IoT (Internet of Things) devices. IoT involves sending and receiving data by a network of sensors, appliances, meters and other devices in a smart building. The IoT enabled sensors and devices are used to increase the efficiency of the appliances in a smart building making it more efficient, sustainable, safer such as a few IoT enabled sensors are capable of automatically turning the lights on sensing the presence in a room thus adding a distinctive attribute to the smart building. Thus, the increased adoption of IoT technology boosts growth of the smart building market. For instance, the installed base of connected devices in the commercial smart building vertical is expected to rise from 1.7 billion in 2020 to approximately 3 billion by 2025, indicating a 10.8% CAGR. Thus, the increased use of IoT devices in smart building increases the growth of smart building (nonresidential) market. The risk of potential cyber-attack restricts the growth of the nonresidential smart buildings market. A smart building uses a complex network of devices connected over internet that uses sensors and controllers used to control the elevators, ventilation systems, heating systems, lighting, water, video surveillance systems, alarms, and other critical functions. Thus, any security breach caused due to malicious cyber-attack affects the remote monitoring of temperature, system performance, and other variables of a smart building as a whole thus restraining the smart building (nonresidential) market. Any breach in cyber security of a smart office building may result in the exploitation of remote access privileges to gain access to the facility. For instance, the cyber attackers used false emails to gain access to the software network of German steel mill and eventually destroyed the production management software by destroying human machine interaction points, the blast furnace systems causing significant operational damage. Further, as reported by Kaspersky, in 2019, in Italy 48.5% of all smart buildings were affected by cyberattacks leading to the loss of control over the computers that control smart building automation systems. Thus, the growth of nonresidential smart buildings market is restricted by the risk of cyber causing operational damage. The use of 5G technology is the latest trend in the smart building (nonresidential) market. 5G technology is the upcoming cellular technology that reduces the time it takes for devices over wireless network to communicate with each other. 5G implementation in smart buildings will considerably enhance the usage of wireless edge devices providing rich multimedia experiences. 5G will also improve the security check applications for a commercial building. For smart hospital buildings, the use of 5G is estimated to improve the wayfinding that will enable smart wheelchairs and beds to move immobile patients. Following the trend in 2019, Ericsson, a Sweden-based networking and telecommunications company, announced an investment of $100 million to develop a smart factory in Texas implementing 5G technology by 2020. The factory is involved in the manufacturing of advanced antenna system radios to enable rapid 5G deployments. The use of 5G technology is expected to improve the connectivity in smart buildings thus, forming a trend that is witnessing a huge capital investment by the major players in the nonresidential smart building market. In March 2020, ABB Ltd., a Switzerland based technology company acquired Cylon Controls for an undisclosed amount. The acquisition will strengthen ABB Electrification's presence in the smart commercial buildings market. Cylon Controls is an Ireland based company that manufactures and develops smart building components. Major players in the nonresidential smart buildings market are Johnson Controls, ABB Ltd., Siemens AG, Honeywell International Inc., Hitachi, IBM, Schneider Electric, Hewlett-Packard, TYCO International, Siemens, Legrand SA. Asia Pacific is the largest region in the smart buildings (nonresidential buildings) market in 2021. South America is expected to be the fastest-growing region in the forecast period. The regions covered in the nonresidential smart buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smart buildings (nonresidential) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global smart buildings (nonresidential buildings) market is segmented - 1) By Automation Type: Intelligent Security System, Building Energy Management System, Infrastructure Management System, Network Management System 2) By Application: Government, Airports, Hospitals, Institutes Manufacturing & Industrial Facilities, Others 3) By Product Type: Institutional Buildings, Commercial Buildings