Global Smart Home Cloud Platforms Market to grow with a healthy growth rate of more than 16.7% over the forecast period 2020-2027. The Smart Home Cloud Network connects smart home devices for better networking, interoperability, and connectivity to home devices anywhere and anytime. The proliferation of connected devices among consumers has given rise to a new range of solutions and services that allow the smart home ecosystem to provide a high level of automation, connectivity and security.
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The prominent factors driving the adoption of Smart Home Cloud Platforms solutions are the increasing adoption of smart home devices, adoption of Voice-enabled Digital Assistants devices. Whereas, technological advancements are expected to create significant growth opportunity in the market over the forecast period. However, the lack of technically skilled workforce and complexities in the management of unstructured data is expected to hinder the market growth.
The key players of global Smart Home Cloud Platforms market have adopted various strategies to gain competitive advantage including product launch, mergers and acquisition, partnerships and agreements, investment, funding and others. For instance, In 2019, Nevo Butler, a leading provider of control and sensing solutions for smart homes, unveiled a cloud-based Home Digital Assistant Network, developed for smart home applications, allowing interoperability and collaboration for rich customer experience through IoT-based home automation products. In 2019, SmartRent, a smart home automation and IoT technology start-up, raised USD 32 million in financing for its end-to - end smart home automation network to enable large-scale implementations.
Major market player included in this report are:
- Google, LLC
- Apple Inc
- Amazon Web Services, Inc.
- Loxone Electronics GmbH
- Qualcomm Technologies
The regional analysis of global Smart Home Cloud Platforms market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to due to the presence of a number of key players. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as continued growth in adoption of smart home devices, high number of smartphone users, along with growing demand for IoT, connectivity and Artificial Intelligence technologies within the smart home ecosystem would create lucrative growth prospects for the Smart Home Cloud Platforms market across Asia-Pacific region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Smart Home Cloud Platform
Security And Access Control
Entertainment Control And Other Controls
- North America
- Asia Pacific
- Latin America
- Rest of the World
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