This Smart Home Hub market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Smart Home Hub market.
Smart Home Hub Market: Market Overview
Today, smart home solutions are in huge demand, as consumers are shifting their focus to home automation solutions. This smart home hub is a device that acts as a bridge between connected devices in the house, and allows end users to control their communication. This device uses AI-based home automation technology to control other connected devices in the house. These smart devices which are connected include light bulbs, thermostats, sensors, door locks, etc., are directly connected to the smart home hub to have control on all the devices together. A smart home hub will control a wide range of smart home products such as lights, air conditioners, thermostats, toasters, window coverings, motion sensors, garage door openers, locks, etc. With the help of a smart home hub, consumers will be able to control multiple appliances at the same time. Also, the integration of Google Assistant enables streaming music, weather, news, etc., with the help of voice technology. The number of connected homes is increasing because of the various advantages associated with deploying smart home solutions such as energy efficiency, ease of monitoring energy, and others. Smart home solutions provide home security, which is a significant factor in the adoption of smart homes across the globe. This increase in demand for smart homes is also expected to give rise to the growth of the smart home hub market shortly.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Smart Home Hub Market: Market Dynamics
The increasing clutter of smart home devices in households develops the need for a central device that can help end users control all other connected devices.
High cost and connectivity issues can hamper the growth of the smart home hub market.
The increasing acceptance of voice technology and growing investment on IoT are the latest trends that are expected to boost the smart home hub market during the forecast period.
Global Smart Home Hub Market: Competition Landscape
A few prominent players in the smart home hub market include Google, Inc., Amazon, Logitech, Securifi, Microsoft Corporation, LG Electronics, Flex (Wink Labs), SmartBeings, Vera Control, Apple, Control4, etc.
Smart Home Hub Market: Regional Outlook
The smart home hub market is dominated by North America, which is followed by the Asia Pacific and Western European regions. The market in North America is expected to witness higher growth due to the presence of prominent players in this region. Also, the demand for smart home hubs in Western Europe is increasing, and is expected to contribute to market growth. The primary factor for the growth is the introduction of advanced smart home hub solutions in the market by players. Latin America and MEA are projected to contribute significantly over the forecast period.
In January 2018, eZLO, which is a home automation solution provider, entered into a partnership with ZLINK, which offers home control products with an objective to launch USB-powered hubs; the smallest smart home automation hub. This hub is compatible with Amazon Alexa, Wi-Fi, and Z-Wave protocols.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Global Smart Home Hub Market: Market Segmentation
The smart home hub market is segmented by communication protocol, sales channel, and region.
Segmentation by Communication Protocol in the Smart Home Hub Market:
Segmentation by Sales Channel in the Smart Home Hub Market:
- Online Stores
- Multi-brand Stores
- Brand Stores
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Smart Home Hub Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Smart Home Hub Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Smart Home Hub Market report?
In addition to up-to-date market figures and customized of the Smart Home Hub Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.