Global Smart Home Security Market

The smart insulin pens market consists of sales of smart insulin pens which allows to dial the insulin dose accurately and related products. The smart insulin pens are injector pens with the needle that help people with diabetes to manage insulin delivery. It is connected with a smartphone app that automatically records the dosing information of each injection and provides assistance with dosing. The main types of smart insulin pens are first-generation pens and second-generation pens (Bluetooth enabled, USB connected). The second-generation smart insulin pens are devices that are engineered with Bluetooth or USB features to enable closer monitoring. The smart insulin pens are either prefilled or reusable that is used to treat type 1 diabetes and type 2 diabetes. The various end-users of smart insulin pens are hospitals and clinics, ambulatory surgical centers, and home care settings. The global smart insulin pens market size is expected to grow from $85.98 million in 2021 to $92.15 million in 2022 at a compound annual growth rate (CAGR) of 7.2%. The market is then expected to grow to $116.76 million in 2026 at a CAGR of 6.1%. An accurate dose of insulin can be achieved than a vial or a syringe with an insulin pen. For kids who need to take insulin during school time and visually impaired diabetic patients, an accurate dose of insulin can even be pre-set over the dosage dial which helps inaccurate delivery of dose at the time of injection. Echo Plus by Novo Nordisk which is a pediatric-friendly insulin pen allows even half-unit dosing with a maximum of 30 units. HumaPen Luxura HD from Lilly allows the delivery of insulin in half-unit increments and NovoPen Junior - Insulin Pen by Novo Nordisk can deliver highly accurate doses of insulin and finely adjusts small doses even half-unit increments. The accurate adjustments and delivery of doses of insulin can avoid either over-dosing or low-dosing of the drug which is expected to increase the demand for smart insulin pens and drive the market growth. Diabetics may be prescribed two types of insulin for better control over blood glucose levels. They usually prefer pre-mixed insulin (combination) or a method in which the insulin doses could be mixed and once puncture is necessary to deliver the different types of insulin doses required. Multiple punctures for the insulin delivery can lead to poor adherence to the medication which in turn results in poor glycemic control. A study published states that poor glycemic control (A1c>7%) was reported in 68% of respondents and there was an association between A1c >7% and poor adherence levels. Dislike towards injection to a large extent and needle phobia can result in poor adherence levels. It is estimated that over 10% of the population has needle phobia. These factors can reduce the adherence of smart insulin pens where two types of insulin can't be mixed and result in multiple needle punctures which thereby affect the purpose of the insulin being administered which is expected to hinder the market growth. The next generation of smart insulin pens goes far beyond memory storage. They help in calculating personalized doses, track glucose continuously, and connect with apps of smartphones to visualize the data. In 2019, Novo Nordisk and Abbott partnered to integrate insulin dose data into the digital health tools which aim at connecting key technologies such as continuous glucose monitoring and insulin pens thus simplifying diabetes management. The NovoPen 6 and the NovoPen Echo Plus pens will be able to connect to the Dexcom G6 CGM and the Diasend diabetes management platform (Glooko). In 2019, Companion Medical announced that the Bluetooth-enabled InPen which takes away the guesswork from dosing insulin with an in-app bolus calculator that uses precise carbohydrate ratios and correction factors and calculates the personalized insulin doses. This enhances the ease of usage of smart insulin pens which is expected to boost the market. In February 2020, Senseonics a US-based medical technology company that primarily focuses on the design, development, and commercialization of glucose monitoring products announced a partnership with Companion Medical. The partnership will benefit both companies by integrating Eversense® CGM System with the InPen™ smart system for accurate insulin delivery. Companion Medical is a US-based company that aims at achieving desirable diabetes outcomes and manufactured InPen™ which is the US first FDA-approved insulin pen. Major players in the market are Companion Medical, Eli Lilly and Company, Novo Nordisk A/S, Diamesco Co. Ltd., Emperra GmbH E-Health Technologies, Digital Medics Pvt Ltd., F. Hoffmann-La Roche AG, Insulet Corporation, Jiangsu Delfu medical device Co. Ltd., and Bigfoot Biomedical. North America was the largest region in the smart insulin pens market in 2021. Western Europe was the second largest region in the global smart insulin pens market. The regions covered in the global smart insulin pen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the smart insulin pens market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global smart insulin pens market is segmented - 1) By Type: First Generation Pens, Second Generation Pens (Bluetooth Enabled, USB Connected) 2) By End-User: Hospitals and Clinics, Ambulatory Surgical Centres, Home Care Settings 3) By Usability: Prefilled, Reusable 4) By Application: Type 1 Diabetes, Type 2 Diabetes

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 speakers market consists of sales of smart speakers and related products that include Bluetooth-, Wi-Fi-enabled and wireless devices which are integrated with virtual assistant device powered by artificial intelligence. The smart speakers market consists of revenue generated through the sales of speakers with virtual assistant intelligence such as Alexa, Google Assistant, Siri, and Cortana, among others which are distributed through online or offline channels to personal and commercial users for smart home, smart office, automotive, commercial and more applications. The companies involved in the smart speakers market are engaged in designing, manufacturing, producing artificial intelligence assisted speakers which are activated with one 'hot word' using voice recognition systems to perform wide range of wireless activities. The main intelligent virtual assistant of smart speakers are Amazon Alexa, Google Assistant, Siri, Cortana and others. Google Assistant is a virtual assistant powered by artificial intelligence that is primarily available on mobile and smart home devices. The various applications of smart speakers include smart home, smart office, consumer and others that are distributed through online and offline channels. The smart speakers are used by personal and commercial end-users. The global smart speakers market size is expected grow from $6.16 billion in 2021 to $6.60 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 speaker market is expected to reach $8.63 billion in 2026 at a CAGR of 6.9%. With increasing consumer preference for technologically advanced products there is a rise in penetration of smartphones and smart devices. The enhanced personal use of smart devices points at integration of smart devices with devices such as smart lightbulbs, thermostats, and TVs. The consumer interest in technologically advanced products has resulted in 205 million installed smart speakers in 2019 and reached 325 million by 2020. In 2019, Amazon could integrate LIDAR technology into Amazon Echo through which it will be able to recognize hand gestures, type of food, and even the clothes being worn. In India, in 2019 the total number of smartphones users are 502.2 million and the smartphones market is expected to gain 859 million users by 2022. Regional 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 smart speakers market. Apart from increasing consumer preference for smart speakers the major drawback that’s concerning the market is the data privacy and security. These devices have access to the personal information stored in Gmail like contact details, bank details, login credentials which raise security issues. The devices of a smart home have access to sensitive data like videos, photos, personal information which can be accessed and operated from anywhere. In 2019, a survey conducted in US states that smart speaker non-users are more concerned about data and privacy reasons like hacking risk (63%), smart speakers are always listening (55%) and monitoring by government (40%). When compared with smart speaker users, they also agreed with the above data and privacy issues similarly. These issues may hinder the market growth if appropriate development in security concerns are not addressed. Virtual assistant devices are powered by artificial intelligence which offer ultimate luxury to the owner. They keep on listening to the command, analyze the needs and performs the task when necessary. The Amazon Echo with smart assistant Alexa can be activated with voice command of one hot word “Alexa”. Siri, the Apple voice assistant provides hands-free activation with deep integration technology and high-quality virtual surround sound and exhibits features like setting timer, managing calendar events and more. Google assistant activated with “Ok Google” provides instant access to all of the Google services and the data associated with the Google account. In 2019, a survey states that Amazon Alexa/Echo dominates the US market with 70% market share followed by Google home with 25% and Apple HomePod with 5% which was largely because of the high sales of entry-level devices like Google Home Mini and Amazon Echo Dot with reasonable price. The proliferation of virtual assistance is, in turn, driving the smart speaker market. In November 2019, Sonos a US-based leading sound experience brand which allows its customers to listen better by giving access to their favorite content by controlling as they wish announced the acquisition of Snips for $37.5 million. The deal will benefit Sonos by improving the voice experience of Sonos with the addition of Intellectual Property of Snips and benefit Snips by taking its France technologies to international customers. Snips is a US-based private-by-design voice technology company which uses artificial intelligence integrated in connected devices. Major players in the smart speakers market are Amazon Inc., Apple Inc., Xiaomi, Alibaba Group Holding Limited, Sonos. Inc., Harman International, Bose Corporation, Sony Corporation, ONKYO CORPORATION, and Panasonic Corporation. Asia Pacific was the largest region in the smart speakers market in 2021. Africa is expected to be the fastest-growing region in the forecast period. The regions covered in the smart speakers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smart speakers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global smart speakers market is segmented - 1) By Intelligent Virtual Assistant: Amazon Alexa, Google Assistant, Siri, Cortana, Others 2) By Application: Smart Home, Smart Office, Consumer, Others 3) By End-User: Personal, Commercial 4) By Distribution Channel: Online, Offline

The smart TV market consists of sales of smart TV and related services that are used in homes, offices and education sectors. A smart TV is a digital TV that is basically an entertainment-specific, internet-connected, storage-ware device. The main product types of smart TV are 4K UHD TV, Full HD TV, HDTV and 8K TV. A screen with a resolution four times that of a Full HD (1080p) TV is referred to as 4K Ultra HD. The various types of panels include LCD, LED, OLED, QLED that are used by homes, offices, education institutions and other end-users. The global smart television market size is expected grow from $174.50 billion in 2021 to $186.90 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 TV market size is expected to reach $244.41 billion in 2026 at a CAGR of 6.9%. The rising popularity of video-on-demand service is a key factor driving the growth of the smart TV market. Video on Demand (VoD) is one of the innovative features that Internet Protocol TV (IPTV) gives. VoD gives consumers a range of available videos to choose from. The video is transmitted via the Real-Time Streaming Protocol. In the recent years VOD has gained tremendous popularity, this has resulted in higher smart TV adoption rates. For instance, in 2019, US providers were the pioneer of VoD users. Amazon Prime Video came at first with 72%, Netflix was second with 63%. In 2019, 53% of users spent more than $11 a month on streaming services. Therefore, the rising trend of video-on-demand service is expected to drive the growth of the smart TV market. The taxation of smart TVs is a key factor hampering the growth of the smart TV market. Television is the only group in which two Goods and Services Tax (GST) levels apply. Television sales of up to 32 inches are falling, accounting for 55 percent of overall sales in 2019 compared to 75 percent two years ago as consumers want to buy bigger displays, customers are delaying purchases anticipating a tax cut. For instance, in India, smart TVs are put under the highest tax slab of the Goods and Services Tax, with customers paying 28% of the already exorbitant prices at which TVs are priced. Therefore, the taxation of smart TV’s is expected to limit the growth of the smart TV market. The 8K TV is a key trend in the smart TV market. The 8K TV sets have 33 million pixels, compared to 8 million pixels in a 4K package. All those millions of extra pixels provide clearer, more accurate images than the 4 K UHD TVs. The 8K Ultra HD doubles the 4K Ultra HD resolution, and it is 16 times the full HD resolution. In 2020, LG unveiled three new 8K versions and this year, Samsung tripled its 8K QLEDs. Therefore, TV manufacturers are gradually promoting 8K TVs as their 2020 flagship sets. In August 2019, Samba TV, a San Francisco-based company, provider of global TV data and audience analytics acquired Axwave Inc. for $30 million. This acquisition strengthens Samba's market-leading understanding of global television advertising and improves the company's ability to cross-platform monitor scope, frequency and conversion to real-world business results, including tune-in. Axwave, Inc., a California-based company, leading platform for real-time audio content recognition, and an international software development company that developed a proprietary fingerprinting-based automatic content recognition (ACR) technology. Major players in the smart TV market are Sony Corporation, LG Electronics Inc, TCL Corporation, Koninklijke Philips N.V., Haier Electronics Group Co. Ltd, Panasonic Corporation, Samsung Electronics, Apple Inc., Toshiba Corporation, and Hitachi Ltd. Asia Pacific was the largest region in the smart TV market in 2021. North America was the second-largest region in the smart TV market. The regions covered in the smart TV market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smart TV market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global smart TV market is segmented - 1) By Product Type: 4K UHD TV, Full HD TV, HDTV, 8K TV 2) By Panel Type: LCD, LED, OLED, QLED 3) By End-User: Home, Offices, Education Institutions, Other

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 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 refrigerators market consists of sales of smart refrigerators and related services that are used in residential and commercial sectors. A smart refrigerator is a programmed high-tech refrigerator that can identify the type of products stored therein and keep track of important information such as expiry and usage. Such refrigerators operate on a barcode or RFID network whereby the batch is collected and information are generated directly from the Internet. The main product types of smart refrigerators are top freezer refrigerator, bottom freezer fridge, side-by-side refrigerator, French door refrigerator and the technologies used are wi-fi, radio frequency identification (RFID), cellular technology, Bluetooth, zigbee and touchscreen. The top freezer refrigerator are more energy efficient and easy to freeze products. The smart refrigerators are found in two types of doors such as single, double, side by side and French and used for residential and commercial purpose. The global smart refrigerators market size is expected grow from $4.89 billion in 2021 to $5.23 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 refrigerator market is expected to reach $6.84 billion in 2026 at a CAGR of 6.9%. The rise in adoption of smart cities and smart infrastructures is a key factor driving the growth of the smart refrigerators market. The Internet of Things (IoT) market has been growing, with smart home devices and appliances, home is getting smarter with new devices that are available with internet connectivity. Smart home devices such as Google Nest, Ring and smart fridges have held users aware of the Internet of Things (IoT) trend, which relates to the connectivity of everyday items over the Internet. according to IoT-analytics the global number of connected IoT devices to grow by 9% to 12.3 billion active endpoints and grew to 27 billion connections by 2025. Therefore, companies are investing more in IoT due growing interest in the smart home and this factor is driving the smart refrigerators market. Smart refrigerators are generally more expensive than ordinary refrigerators. Although, smart refrigerators have high-tech features and can be controlled via smartphones, the high cost is hindering its growth. Additionally, the high repair cost is a key factor hampering the growth of the smart refrigerator market. Consumers might have to invest more on specific parts that are difficult to locate, and there might also be shortage of parts for some models in some cases. This results in using second-hand parts. Popular issues include a non-running refrigerator, or having a freezer portion that does not remain cold. The cost to fix these problems ranges between $140 and $200 nationally. The more recent issue with smart refrigerators is hacking. Smart refrigerators are not build with security and can’t be protected by antivirus software. Using devices that incorporates hardware, cloud and software designed to safeguard the appliance is an additional expense. Therefore, the high cost with smart refrigerators is expected to limit the growth of the smart refrigerators market. The IoT-enabled family hub refrigerator is a key trend in smart refrigerators market. The new Family Hub refrigerator provides features such as testing from anywhere what's inside the refrigerator, leaving messages on the White Board, seeing who's at the front door via a connected doorbell, adjusting the thermostat, watching CCTV video, suggestions for recipes, shopping recommendations, etc. In July 2020 Samsung launched its connected SpaceMax Family Hub Refrigerator which has additional storage space. Major players in the smart refrigerators market are Haier, Samsung Electronics, LG Electronics Inc., Panasonic Corporation, Whirlpool, Siemens AG, Midea Group, Hisense Co. Ltd, Electrolux, and GE Appliances. Asia Pacific was the largest region in the smart refrigerators market in 2021. Western Europe was the second-largest region in the smart refrigerators market. The regions covered in the smart refrigerator market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smart refrigerators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global smart refrigerators market is segmented - 1) By Product: Top Freezer Refrigerator, Bottom Freezer Fridge, Side-by-Side Refrigerator, French Door Refrigerator 2) By Technology: Wi-Fi, Radio Frequency Identification (RFID), Cellular Technology, Bluetooth, ZigBee, Touchscreen 3) By Door Type: Single, Double, Side-by-Side, French 4) By End-Use: Residential, Commercial

The smart wearables market consists of sales of smart wearable devices and related services for tracking vital pieces of data related to the health and fitness of the human body. Smart wearables are any form of an electronic device intended to be worn on the human body. The main devices of smart wearables are smartwatches, smart glasses, fitness and wellness devices, smart clothing and others. Smart clothing is essentially an electronic device that communicates with other connected devices (such as smartphones) as well as the wearer's body. Smart clothing collects biometric and physical data from the wearer, such as body temperature and heart rate, using a variety of sensors. The sensor-generated data is transferred via Bluetooth to relevant apps on a paired smartphone, where it can be viewed by users. The various technologies of smart wearables are memory and storage technology, speech and pattern recognition technology, communication and networking technology, sensing technology, computing technology, display technology that are used in lifestyle, healthcare, consumer applications, defense, fitness and sports, enterprise and industrial applications. The global smart wearables market size is expected grow from $18.08 billion in 2021 to $20.64 billion in 2022 at a compound annual growth rate (CAGR) of 14.1%. 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 wearable market is expected to reach $31.95 billion in 2026 at a CAGR of 11.5%. The increasing demand for wireless sports and fitness devices is projected to drive the smart wearables market. There is a rapid growth in the use of smart devices such as smartwatches among cyclists, runners, gym-goers, swimmers, and athletes to track the calories burnt, hourly activity, stationary time, and activity time. For instance, in September 2019, Garmin, a US-based technology company, launched the Garmin Vivo active 4, a smartwatch that is featured with a fitness tracker to track every move of the human body. Therefore, the demand for smart and wireless fitness devices is expected to propel the smart wearables market. The lack of control over the data generated by owners through their smart wearable device’s constraints the growth of the market. The privacy policy of most wearable devices states that data collected would be shared with a third-party vendor, inherently giving way for the data breach. For instance, in 2021, Apple and Fitbit users' data was exposed online due to an unsecured database containing over 61 million records related to fitness trackers and wearables. Data breaches are a big concern to the users making it an obstacle for people to adopt the use of these devices and thus, impacts market growth negatively. The use of smart rings is a key trend shaping the growth of the smart wearables market. A smart ring is a wearable electronic device equipped with mobile devices such as sensors and NFC chips that are used as a peripheral tool to assist mobile devices for a variety of purposes, often monitoring everyday tasks. For example, in September 2019, Amazon introduced the Echo Loop Smart Ring with the intention of keeping Alexa on finger. The Echo Loop Smart Ring vibrates to alert users to notifications, while built-in microphones and speakers will be enabled to communicate with Alexa. In November 2019, Google LLC, a US-based multinational technology company, acquired Fitbit, Inc. for $2.1 billion. The acquisition of Fitbit was aimed to strengthen Google LLC in the business of smart wearable devices. Fitbit, Inc., a US-based company, is specialized in the production of wireless wearable technology devices. Major players in the smart wearables market are Apple Inc., Samsung, Google, Xiaomi, Nike, Motorola Solutions Inc., Garmin, Jawbone, Misfit, and Polar. Asia Pacific was the largest region in the smart wearables market in 2021. North America was the second-largest region in the smart wearables market. The regions covered in the smart wearable market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the smart wearables market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global smart wearables market is segmented - 1) By Devices: Smart Watches, Smart Glasses, Fitness and Wellness Devices, Smart Clothing, Others 2) By Application: Lifestyle, Healthcare, Consumer Applications, Defense, Fitness and Sports, Enterprise and Industrial 3) By Technology: Memory and Storage Technology, Speech and Pattern Recognition Technology, Communication and Networking Technology, Sensing Technology, Computing Technology, Display Technology