Global Smart Home Market Is Expected To Foresee Significant Growth During The Forecast Period

Emphasis on Application (Safety and Security, Smart Appliances, Heating Ventilating and Air Conditioning (HVAC), Home Entertainment, Smart Lighting Systems, Smart Energy Management)
MUMBAI, India - April 6, 2021 - PRLog -- Global Smart Home Market is expected to exceed the market valuation of US$ 208 billion by 2027 expanding at a reasonable CAGR of 19.7% during the forecast period (2021-2027) from US$ 57.6 billion in 2020. Smart homes have been recognized over the decades as one of the most essential elements of intelligent environments. These are residential/commercial units that are significantly integrated with a network of interacting sensors and intelligent systems focused on modern design projects and innovative technologies.

The smart home service is an important component of smart grid usage. It is a real-time interactive response between the power grid and users and improves the power grid's comprehensive service capability, also realizes the intelligent and interactive use of electricity, further enhances the power grid's operating mode and the use patterns of the users to improve energy efficiency for end-users. The smart home is a residential-based platform that links different facilities across the network to meet the automation requirements of the entire system and provide more convenient control and management. It makes use of the Internet of Things (IoT), computer technology, control technology, image display technology, and communication technology.

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