Global Smart Home Hub Market is Likely to Grow at a CAGR More Than 5% in Terms of Shipment During 2016–2022
Smart Home Hub Market – Report Insight
A smart home hub is a hardware device that acts as a bridge among connected devices in the house and allows the end-user to control their communication. This device uses AI-based home automation technology to control other connected devices in the house.
Scope of the report
The report “Global Smart Home Hub Market – Strategic Assessment and Forecast 2017–2022”, considers the present scenario of the global smart home hub market and its strategic assessment during the period 2016–2022. The report outlines the top trends, drivers, restraints, and profiles the leading five vendors in the market.
It provides the analysis of key segments of the market by distribution channel, geography, country, and vendors. It provides a comprehensive analysis of the revenue from the following segments:
By Distribution Channels
Mass market players
- North America
The report also includes a detailed study of leading trends, drivers, and restraints for each region.
Smart Home Hub Market – Market Size and Dynamics
Analysts at Beige Market Intelligence expect that the global smart home hub market is likely to post a CAGR more than 5% and 4% in terms of unit shipment and revenue, respectively during 2016–2022. One of the reasons for increasing sales of smart home hub in developing as well as developed countries is urbanization. Urbanization has led to the creation of better job opportunities for people, which, in turn, leads to the improvement in their living standards. Increased per capita income and growth of dual-income households constitute the basis for increasing spend on smart devices worldwide. Further, the cost-effectiveness of smart home hub offered online (often at discounted prices) is also attracting price-sensitive, new buyers in the market. In addition, improving global economic conditions will drive the growth of the market, making it attractive for vendors to launch new products.
Smart Home Hub Market – Trends, Drivers, and Challenges
Increasing clutter of smart home devices in households develops the need for a central device that can help end-users to control all other connected devices. Smart home hub comes handy in these situations, thereby finding their application increasing among end-users consumers worldwide. The increasing popularity of voice-first technology, rising investment on IoT by vendors, and growing push for digital economy in developing countries are among the other emerging trends that is going to boost the market during the forecast period.
Further, the smart home hub report includes a detailed study of emerging trends, factors driving the growth, and expected challenges of the market during the period 2017–2022. Similarly, increased instances of voice searches and penetration of broadband and internet connections are among the major factors that are expected to drive the growth of the market. The report also includes Porter’s Five Forces analysis and their impact on the market.
Smart Home Hub Market – Geographical Analysis
Globally, North America is the largest market for smart home automation, and the market is growing rapidly. This will fuel the demand for smart home hub in the region. The demand for smart home hub in Europe is high and is expected to increase during the forecast period. The major reason for the growth in demand is the introduction of upgraded smart home hub in the market by vendors. Also, the smart home penetration is increasing in the Western European countries. The report includes the market analysis of different regions such as North America, Latin America, APAC, MEA, and Europe. It outlines the major market shareholders and the market size analysis of all regions.
Smart Home Hub Market – Key Vendors and Market Share
The global smart home hub market is dominated by vendors that have international presence. Many international players are expected to expand their presence worldwide during the forecast period, especially in the fast-developing countries in APAC and Latin America to gain more market share.
The report profiles major companies in the global smart home hub market and provides the competitive landscape and market share of the leading players. It covers the entire market outlook regarding the value chain operating in the market.
- Flex (Wink Labs)
- LG Electronics
Other prominent vendors included in the smart home hub report are Alphabet, Apple, Control4, Cozify, Invoxia, Logitech International, Lowe’s (Iris), Lutron Electronics, SmartBeings, Smartlabs (Insteon), Vera Control, Vivint, Zipato (Tri plus grupa).
Why should you buy the report?
The report provides answers to the following questions related to the Smart Home Hub market.
- What are the current changes witnessed by the market and how are they likely to impact the market landscape in the coming years?
- Which factors are likely to affect the market over the next few years?
- What are the major emerging trends and challenges for the market over the next five years?
- What is the market size and market forecast for each product segment?
- What is the market size and market forecast for each end-user type?
- Which region is likely to witness the largest market share and what are the factors driving the market growth in the region?
- What is the sale growth rate in key geographies?