LAMEA Smart Home Automation Market Size, Share & Industry Trends Analysis Report By Component (Hardware, Software and Services), By Application, By Technology (Wireless, Cellular and Others), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Smart Home Automation Market would witness market growth of 18.4% CAGR during the forecast period (2022-2028).
A smart home is a cohesive network of connected smart appliances and devices rather than a collection of standalone smart appliances and gadgets. A central home automation controller, frequently referred to as a smart home hub, manages all devices. A hardware component known as the smart home hub serves as the system's focal point and has the ability to perceive, process data, and wirelessly communicate. It combines all of the many apps into a single smart home app that users can control from a distance.
Artificial intelligence (AI) and machine learning are becoming more and more common in smart home systems, enabling home automation applications to adjust according to their environments. For instance, voice-activated systems like Amazon Echo or Google Home have virtual assistants that can learn about and tailor the smart home to the preferences and routines of the users.
Using home automation could result in more clever and effective energy-saving methods. Information and communication technologies (ICT) can be combined with renewable energy sources like solar or wind power to enable homes to autonomously decide whether to store energy or use it for a specific appliance. This will have a positive overall impact on the environment and result in lower electricity costs for system users.
The number of smart city initiatives going on across the region would play a major role in increasing the deployment of smart homes in the region. The Abu Dhabi Smart Cities Summit, which aims to reorganize visions of the smart cities for the future and fortify Abu Dhabi's pioneering expertise in anticipating the developments of cities, successfully concluded its revised edition at an event that included specialists, government officials, international speakers, policymakers, smart city and technology pioneers, and global experts.
The Brazil market dominated the LAMEA Smart Home Automation Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,994.3 million by 2028.The Argentina market is experiencing a CAGR of 19.1% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 18.1% during (2022 - 2028).
Based on Component, the market is segmented into Hardware, Software and Services. Based on Application, the market is segmented into Entertainment, Lighting, Security, HVAC & Energy Management, and Smart Kitchen. Based on Technology, the market is segmented into Wireless, Cellular and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Siemens AG, Schneider Electric SE, Johnson Controls International PLC, Honeywell International, Inc., Leviton Manufacturing Co., Inc., Legrand S.A., Crestron Electronics, Inc., Ingersoll Rand, Inc., and Lutron Electronics Co., Inc.
Scope of the Study
Market Segments Covered in the Report:
- HVAC & Energy Management
- Smart Kitchen
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- ABB Group
- Siemens AG
- Schneider Electric SE
- Johnson Controls International PLC
- Honeywell International, Inc.
- Leviton Manufacturing Co., Inc.
- Legrand S.A.
- Crestron Electronics, Inc.
- Ingersoll Rand, Inc.
- Lutron Electronics Co., Inc.
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