The North America Smart Home Platforms Market would witness market growth of 15.9% CAGR during the forecast period (2022-2028).
Wall switches, blinds, and lamps may all be controlled with smart lighting, as well as it is user-friendly. This turns out that it has a lot of capabilities. For example, as seen with Belkin's WeMo Switch + Motion, which is both affordable and simple to use with its plug-and-play simplicity, users can organize the times lights should switch on and off, make a decision on which specific rooms should be lighted at certain times, select the level of light that should be released, and choose how particular lights respond via motion sensitivity. Bluetooth LE operates in the already busy 2.400 GHz-2.4835 GHz ISM band, although using distinct channels, and the requisite data compression degrades audio quality.
The regional government and various concerned entities are making heavy investments in order to strengthen the smart technology infrastructure which will eventually benefit the smart home platforms market. The US Department of Transportation (US DOT) has raised approximately $350 million in public and private financing for smart cities and advanced transportation technology in the last year. For example, The Smart City Challenge, which was built on Beyond Traffic 2045, provided a spark for communities wanting to reinvent the transportation systems in order to better people's lives. The Department pledged up to $40 million to one winning city as part of the Smart City Challenge. As a result, cities have been able to raise an additional $500 million in private and public funds to help them realize the Smart City objectives.
The Smart City Challenge aims to disseminate innovation through a mix of competition, collaboration, and experimentation by pushing American towns to apply emerging mobility technologies to address the most pressing challenges. For example, the Smart City Challenge, however, is about much more than technology. There is an urge for mayors to identify the most pressing transportation issues and to envision bold new solutions that could transform the face of transportation in the cities by addressing the requirements of people of all ages and abilities, as well as connecting the digital divide so that each and everyone, not just the tech-savvy, can access everything the city has to offer. Therefore, due to growing investments made by regional government and other concerned entities, the regional smart home platforms market is expected to grow during the forecast period.
The US market dominated the North America Smart Home Platforms Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $11,722.4 million by 2028. The Canada market is experiencing a CAGR of 18.6% during (2022 - 2028). Additionally, The Mexico market would exhibit a CAGR of 17.5% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Smart Home Platforms Market is Estimated to reach $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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