Key players driving European smart home market growth with government incentives and demographic trends

From GlobeNewswire: 2024-12-16 06:45:00

The European smart home market is valued at USD 22.11 billion in 2024, projected to reach USD 29.24 billion by 2029, with a 5.7% CAGR. Government incentives for energy efficiency and demographic trends driving demand for solutions aiding the elderly contribute to market growth. Major players include Johnson Controls, Honeywell, and Schneider Electric.

Johnson Controls Inc. leads in integrated facility management services and building technologies, offering smart home products enhancing security and energy efficiency. Schneider Electric provides integrated solutions for utilities, infrastructure, industries, and buildings. Honeywell International offers connectivity and security products for smart homes.

The European smart home market is segmented by installation type, with new installations accounting for a larger market share. Indirect sales channels dominate the market, with strong distribution networks. The UK is expected to hold the second-largest share of the European smart home market, driven by government initiatives for energy efficiency and smart city projects in cities like London.



Read more at GlobeNewswire: Top Players Driving the European Smart Home Market Growth