Key Takeaways from Smart Home Cloud Platform Market Study
Most smart home device manufacturers are developing advanced smart home cloud platform tools to reduce network complexity and offer reliable connectivity.
Among the applications, the smart speakers segment is expected to witness high growth, as these speakers are powered by voice assistant capabilities that offer controls for smart home devices.
Countries across the globe such as the US, Germany, China, Japan, the UK, and Russia are witnessing changes at a faster pace, owing to rise in consumer preference toward adopting smart home devices.
Among the regions, the smart home cloud platform market in South Asia & Pacific is exhibiting high growth, owing to increasing demand for and adoption of technological advancements, especially in smart home appliances and consumer electronics.
(1)
NEW YORK, Feb. 19, 2021 /PRNewswire/ The global smart shades market is poised to experience healthy expansion through 2021, experiencing a growth rate of 16.5%, according to a recent report published by Fact.MR. Long-term projections appear equally strong, with forecasts pointing towards a stellar 23% CAGR through 2031. Burgeoning demand for smart homes and rising energy efficiency requirements are expected to catapult the market on such an elevated trajectory.
According to the study, demand is highly reliant on the deepening penetration of ZigBee/Z-Wave technology enabled devices. Recently, in September 2020, the Z-Wave Alliance announced its new Long Range (LR) specifications, extending the transmission range of peripheral Z-wave devices including locks, garage doors and smart shades. The technology aims to increase scalability to over 2000 nodes on a single smart home network.