According to a new report, published by KBV research, The Global Smart Home Hardware Market size is expected to reach $48 billion by 2028, rising at a market growth of 12.5% CAGR during the forecast period.
The IoT Hardware for Security & Surveillance Equipment segment is showcasing a CAGR of 12.8% during (2022 - 2028). IoT security and surveillance technology are utilized to keep a close eye on houses and property from both outside and inside by working as an additional pair of ears and eyes. According to the survey, smart camera systems and analytical software are driving the implementation of IoT hardware for security and surveillance equipment. Security and surveillance equipment are widely utilized for both detection and monitoring.
The Asia Pacific segment acquired maximum revenue share in the Global Smart Home Hardware Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $17.7 billion by 2028. The Europe market is estimated to witness a CAGR of 12.2% during (2022 - 2028). Additionally, The North America market would experience a CAGR of 11.8% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/smart-home-hardware-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Google LLC, Amazon.com, Inc., Schneider Electric SE, Honeywell International, Inc., ABB (ASEA Brown Boveri) Group, Johnson Controls International PLC, Panasonic Corporation, Legrand S.A., Samsung Electronics Co. Ltd., and General Electric (GE) Co.
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