Global Smart Home Installation Service Market was valued US$ XX Bn in 2018 and is expected to reach US$ 18.74 Bn by 2026, at CAGR of XX% during forecast period of 2019 to 2026.
Global Smart Home Installation Service Market
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Global Smart Home Installation Service Market Drivers and Restrains:
Smart home installation services offer to user’s automatic control over lighting, security and other smart home solutions. They ensure the performance of the systems with wireless connectivity and also a user can manage the system by just touching a button. These services add comfort and convenience for the customers in these modern days.
The global smart home installation service market is driven by factors increased number of cognitive systems, increasing adoption of smartphones, adoption of intelligent embedded devices, demand for advanced safety and security devices. Growing crime rates and concerns regarding residential security have driven the demand for advanced security systems, which are impelling the smart home installation services market in North America. The rising need to reduce energy consumption in Asia Pacific has increased the adoption of smart meters, which are expected to boost the smart home installation services market in Asia Pacific.
However, data privacy and security concerns are the primary factor hampering the market growth at the global level. Rapid urbanization and improving standards of living are likely to create lucrative opportunities in the global smart home installation service market. This is evidence, as the revenue from standard of living and rapid urbanization in the smart home installation service market is projected to reach approximately XX% by 2026.
Global Smart Home Installation Service Market Segmentation Analysis:
Based on the distribution channel, the e-Commerce segment is expected to grow at the largest CAGR of XX% during the forecast period. The increasing popularity of e-Commerce channels is likely to offer new opportunities in the smart home installation services market. Many companies are working together with e-Commerce channels to expand their customer’s target. For example, in November 2018, eBay declared partnerships with three service suppliers in the smart home companies like Installer Net, Handy, and Porch thereby permitting end users to order smart home installation services on eBay’s inventory. Prominent service providers are challenging the easy installation claims made by home improvement and DIY kits, and using this strategy as an essential weapon for the enlargement of their consumer base in the smart home installation services market. OEMs and retailers in the smart homes industry are presenting consultation, product selection, and installation services under one roof, to boost their growth in the smart home installation services industry.
Based on the system, the lighting controls segment is expected to grow at a notable CAGR of XX% during the forecast period. The increasing demand for reducing carbon emission and power consumption in emerging countries such as India and China, have driven the demand for the installation of lighting control systems in houses.
Global Smart Home Installation Service Market Regional Analysis:
Geographically, the smart home installation service market is segmented into Europe, Asia Pacific, North America, Latin America, and Middle East & Africa. North America held the XX% share of the smart home installation service market in 2018 and it is expected to maintain its prominence during the forecast period. The trend of early adoption of technology and the significant presence of major key players such as Red River Electric, Vivint, Inc., and Miami Electric Masters in the region are responsible for the leading position of North America in the overall smart home installation services market. In the U.S., approximately XX million households have expected to add smart home technology during the forecast period. Customers are allowing products to their homes containing connected cameras, video doorbells, smart locks, connected light bulbs and smart speakers of late. Recently, according to a survey in the US, rising demand for security-related smart home products thanks to family safety is a significant factor for adopting smart home technology. The customers are accepting smart home technology such as smart lighting solutions, energy management solutions to simplify their lives with greater convenience, these are the major driver for the market in this region. The market in Asia Pacific is anticipated to grow at the highest CAGR of XX% during the forecast period. India, China, Australia, and Japan are major nations that fuel the smart home installation services market in the region. Moreover, the rising investments in research and development activities for the introduction of advanced smart home installation services are predicted to accelerate the growth of this region in the near future.
A report covers the recent development in market for the smart home installation services market e.g., April 2019 - Calix Inc. declared a partnership with IdeaTek, to offer the wide range availability of its Gigabit services to its subscribers, and facilitate the management and combination of its smart home devices with its cloud-based and home Wi-Fi services.
Global Smart Home Installation Service Market Competitive landscape
Major Key players operating in this market are Calix, Finite Solutions, Handy, HelloTech Inc., Maryland Electrical Services LLC, Meyer Electrical Services, Inc, and Miami Electric Masters. Manufacturers in the global smart home installation service are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers and acquisitions and technological innovations are also the key focus areas of the manufacturers.
The objective of the report is to present a comprehensive analysis of Global Smart Home Installation Service Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Smart Home Installation Service Market dynamics, structure by analyzing the market segments and project the Global Smart Home Installation Service Market size. Clear representation of competitive analysis of key players By Type, Price, Financial position, Product portfolio, Growth strategies, and regional presence in the Global Smart Home Installation Service Market make the report investor’s guide.
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Scope of the Global Smart Home Installation Service Market: Inquire before buying
Global Smart Home Installation Service Market, by System:
• Home Monitoring/Security
• Lighting Controls
• Smart Speakers
• Video Entertainment
• Smart Appliances
• Others (Including Garage Door Controllers)
Global Smart Home Installation Service Market, by Distribution Channel:
• Professional Service Providers
Global Smart Home Installation Service Market, by Region:
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Global Smart Home Installation Service Market, Major Players:
• Calix Inc
• Finite Solutions
• HelloTech Inc.
• Maryland Electrical Services LLC
• Meyer Electrical Services, Inc
• Miami Electric Masters
• Red River Electric
• Rexel India Pvt. Ltd
• Insteon Inc
• Smartify Home Automation Limited
• Vivint, Inc
• Port Solutions
• ABB Ltd.
• Assa Abloy
• Centrica Connected Home Limited
• Control4 Corporation
• Crestron Electronics
This Report Is Submitted By : Maximize Market Research Company
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