From GlobeNewswire: 2024-07-10 04:30:00

The Global Smart Home Market is expected to grow from USD 101.7 billion in 2023 to USD 163.7 billion by 2028, with a 10.0% CAGR.

Factors such as remote home monitoring and energy-saving solutions are driving market growth, with opportunities in power line communication technology integration.

Proactive software and services are projected to have the highest CAGR, enabling efficient energy consumption data transmission and providing effective solutions.

The smart kitchen segment is expected to grow significantly due to the rising preference for modular kitchens and increased disposable income.

Indirect sales channels are dominating the market, offering convenience through e-commerce platforms and setup services.

North America is poised to hold the largest market share by 2028, driven by demand for home energy management and smart device integration.

Opportunities in the lighting control market show significant growth potential, while challenges include compatibility issues among different systems and devices.



Read more at GlobeNewswire: Smart Home Market Set for 10.0% CAGR Rise, Reaching USD