The Asia Pacific Smart Home Platforms Market would witness market growth of 17.1% CAGR during the forecast period (2022-2028).
Smart home applications can automate any day-to-day, repeatable process. The more control and flexibility these procedures have, the more energy and cost savings the resident will have, which is something that everyone wants to minimize. The smart home revolution is more likely to be a progressive process, with one or two home technologies being added at a time, progressively automating the homes via smart mobile devices.
Bluetooth Smart, often known as Bluetooth Low Energy (LE), is a low-energy version of Bluetooth that is commonly found in smartphones and is perfect for usage with a headset. Although its range is limited, it consumes very little energy. This is because of its energy efficiency and compatibility with present smartphones and other devices, developers and OEMs may quickly create solutions that can be integrated into existing systems.
Cutting-edge technologies make life easier, and equipping one's home with the most up-to-date technology has become a new engine boosting China's economy. A growing number of affluent consumers are opting for a smarter, higher-end lifestyle, which has boosted the smart home platform industry significantly. Experts believe that the AI-powered smart home is the way of the future. Conventional home appliance makers are pushing ahead with smart home items like air conditioners, televisions, and refrigerators, using artificial intelligence to change and reinvent products and get a larger market share.
For instance, Midea Group, a leading Chinese home appliance manufacturer, has unveiled M-Smart, a smart home system aimed at the future of family living. As an example, Midea's intelligent air conditioners, which feature a smart eye, a Wi-Fi function, and a camera, can alter the temperature to react to human activity in a room because the company is at the edge of R&D. Voice instructions can also be used to control the air conditioners. Therefore, due to growing living standard of the regional population, the smart home platforms market is likely to propel in the forecast period.
The China market dominated the Asia Pacific Smart Home Platforms Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5,573.9 million by 2028. The Japan market is poised to grow at a CAGR of 16.4% during (2022 - 2028). Additionally, The India market would display a CAGR of 17.8% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Smart Home Platforms Market is Projected to reach USD 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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