A report by Zion Market Research Company reveals the Smart Home market will be valued at $53.45 billion in 2022. In 2016, the market was valued at $24.10 billion, which will be a huge jump.
The report, “Smart Home Market (Smart Kitchen, Security & Access Control, Lighting Control, Home Healthcare, HVAC Control and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022”, shows the market is growing at a CAGR of slightly above 14.5 percent between 2017 and 2022.
Nest, a leading provider of Smart Home products, announced this week a retail expansion to four European countries, including Austria, Spain, Germany and Italy. Nest products are already being utilized in 190 countries, but they were only sold in the United Kingdom, United States, Canada, France, Ireland, Netherlands and Belgium. The expansion could potentially increase the company’s awareness in the European Smart Home market.
Nest Learning Thermostat
Merkury Innovations, a provider of low-cost electronics and accessories, unveiled its new Geeni line of Smart Home devices at CES 2017. The Geeni line consists of a Smart camera, plugs, bulbs and power solution, all of which can be controlled via a smartphone or tablet, with the Geeni cloud-based app and an Internet connection. The app is embedded with a variety of features such as smart scenes, robust sharing and grouping.