The Europe Smart Home Automation Market would witness market growth of 14.8% CAGR during the forecast period (2022-2028).
Smart home systems and devices, which are a part of the internet of things, frequently work together in order to share consumer usage data among themselves while also automating activities based on the preferences of the homeowners. User preferences can be accommodated in smart homes for ease. For example, users can set their garage door to open, lights to turn on, fireplace to light, and preferred music to play when they arrive. Additionally, users can increase efficiency using home automation.
A smart home system can learn habits and ensure that the house is cooled down by the time residents get home from work instead of turning on the air conditioning throughout the day. Appliances follow the same rules. The grass would only be watered when necessary and with the precise amount of water required with a smart irrigation system. Smart home automation makes it possible to use energy, water, and other resources more effectively, which helps consumers save both money and natural resources.
Several steps are being taken by Europe to improve the region's energy efficiency. European governments and residents are putting more emphasis on energy conservation as a result of the region's high energy demand. Energy efficiency is at the core of both the shift to a resource-efficient economy as well as the EU's Europe 2020 Strategy for sustainable, smart, and equitable growth. Energy efficiency is one of the most cost-effective strategies to improve the security of the energy supply, reduce greenhouse gas emissions, and lower other pollutant emissions.
The Germany market dominated the Europe Smart Home Automation Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $12,033.2 million by 2028.The UK market is anticipated to grow at a CAGR of 13.8% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 15.6% during (2022 - 2028).
Based on Component, the market is segmented into Hardware, Software and Services. Based on Application, the market is segmented into Entertainment, Lighting, Security, HVAC & Energy Management, and Smart Kitchen. Based on Technology, the market is segmented into Wireless, Cellular and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Smart Home Automation Market will Hit $187.8 Billion by 2028, at a CAGR of 15.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Siemens AG, Schneider Electric SE, Johnson Controls International PLC, Honeywell International, Inc., Leviton Manufacturing Co., Inc., Legrand S.A., Crestron Electronics, Inc., Ingersoll Rand, Inc., and Lutron Electronics Co., Inc.
By Component
By Application
By Technology
By Country
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