The Europe Smart Home Platforms Market would witness market growth of 16.2% CAGR during the forecast period (2022-2028).
The market is distinguished by the presence of both established and emerging firms. Major manufacturers in this sector are expanding the smart home platforms with new features. To get a larger piece of the market, the majority of the major firms use various techniques such as alliances and partnerships. For instance, Google LLC, Amazon.com, Inc., and Apple Inc., the top three competitors in the smart home market, have teamed up with the Zigbee Alliance to create and sell products that are interoperable with a variety of smart home platforms.
Users download the app to the phone and then link it to the numerous other apps that control devices on the phone. After that, rather than jumping around, users may control all of the devices from a single app. This is the simplest method to get started with a smart home if all of the preferred devices link to one of the major software hubs.
The regional population of Europe is well aware of smart technologies and know appropriate method to use such technologies and hence, the regional government make active investments in the smart home platforms technologies. The National Cyber Security Center (NCSC) and the Center for the Protection of National Infrastructure (CPNI) define a connected place as a community that combines information and communication technologies and Internet of Things (IoT) devices to gather and analyze data in order to offer new services to the creative environment and improve citizens' quality of life. A connected location will collect data from its transportation, buildings, utilities, environment, infrastructure, and public services via a system of sensors, networks, and applications.
Citizens can benefit from a variety of functions and services provided by smart home platforms. However, ensuring linked locations are adequately secure and associated data is secured, requires building and maintaining cyber resilience within these technological systems, as well as the security-mindedness of those who install them. When the term "connected places technologies" is used, it refers to the technology that supports most linked place systems.
The Germany market dominated the Europe Smart Home Platforms Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,663.3 million by 2028. The UK market is anticipated to grow at a CAGR of 15.2% during (2022 - 2028). Additionally, The France market would showcase a CAGR of 17% during (2022 - 2028).
Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Product, the market is segmented into Entertainment & Other Controls, Security & Access Control, Smart Speakers, Lighting Controls, Home Healthcare, HVAC Controls, Smart Kitchens, Home Appliances, and Others. Based on Type, the market is segmented into IoT Platform for Smart Appliances, IoT Platform for Security & Surveillance Systems, and IoT Platform for Control & Connectivity Devices. 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 Platforms Market will Hit $55.8 Billion by 2028, at a CAGR of 16.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple Inc., Google LLC, Cisco Systems, Inc., Resideo Technologies, Inc., Amazon.com, Inc., LG Electronics, Inc., Samsung Electronics Co. Ltd. (Samsung Group), Siemens AG, Robert Bosch GmbH (Robert Bosch Smart Home GmbH), and General Electric Company.
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