Smart Homes Market Expected to Grow at a CAGR of 25%

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Smart Homes Market Expected to Grow at a CAGR of 25%
According to new market research report by Mordor Intelligence, the market
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According to new market research report by Mordor Intelligence, the market for Smart Homes is expected to grow at a CAGR of 25% during the forecast period.
Globally, the increasing importance toward the need to counter security issues is anticipated to fuel up the demand growth for smart and connected homes.
Smart Homes Market
Home automation and smart homes are the two ambiguous terms used in reference to a wide range of solutions for monitoring, controlling, and automating functions in a home.
Globally, the increasing importance toward the need to counter security issues is anticipated to fuel up the demand growth for smart and connected homes over the forecast period.
Moreover, the introduction of innovative wireless technologies, including HVAC Controller, security and access regulators and entertainment controls, is expected to foster market growth.
A smart home is a suitable home setup where appliances and devices can be automatically controlled distantly from any internet-connected place in the world using a mobile or other networked device.
A smart home has its devices connected through the internet, and the customer can regulate functions such as security access to the house, temperature, lighting and home theater
Smart HVAC Systems is the among the Most Significant Contributors to the Market
The demand for efficient heating equipment has led to the increasing demand for automated heater controls, thereby making it one of the most significant contributors to the global HVAC equipment market.
North America Leads in the Smart Homes Market
The products consumers are looking to add to their homes include connected cameras (highest demand), video doorbells (2nd highest demand), connected light bulbs, smart locks and smart speakers of late.
Security-focused smart home products are in demand, as family safety was voted as a significant motivator for adopting smart home technology in a recent survey

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