DUBLIN--(BUSINESS WIRE)--The "GCC Smart Homes Market by Countries, Application, Company Analysis, Forecast" report has been added to ResearchAndMarkets.com's offering.
GCC Smart Home Market will be US$ 5,477.40 Million by 2027 from US$ 803.40 Million in 2020, growing with a staggering CAGR of 31.55% during 2020-2027
IoT integration and internet penetration have led to the growth of the Smart Home industry around the world. Many countries have adopted this technology, and in that race, GCC countries have made positive growth over the times. Smart homes facilitate monitoring and controlling mechanical operations inside residential areas, commercial setups, and other premises.
The smart home operates on a centralized network that supports various software that controls and monitors the energy demand, security control, heating, and cooling system. The big markets for this technology are Saudi Arabia, UAE, Kuwait, Qatar, and Oman, among GCC countries.
The driving force behind GCC smart homes market growth is increasing government initiatives, adopting IoT across the GCC countries, rising home securities, and surging adoption of smart devices. Besides, growing investment for the development of technologies and increasing demand for real-time security solutions.
Furthermore, there have been growing construction activities across GCC countries in the upcoming years at the same time; ongoing residential and commercial projects have huge demand over HVAC system would further drive this market.
Connected entertainment, say, wireless speaker, Smart TVs, video streaming, and connected health devices wearable's has reached its maturity level in the GCC countries. For the year 2020, Gulf Cooperation Council Smart Home Industry was .
COVID-19 Impact on Middle East Smart Home Market
The GCC countries have reprioritised their investment in smart home devices because economic fallout has led to a more frugal approach towards spending.
We expect that GCC countries see a greater focus on energy-saving devices eg- thermostats, switches etc. and entertainment devices. Economic uncertainty, constrained physical retail opportunities, installation limitations, disrupted manufacturing, and distribution have curbed consumer spending. But we believe that this spending shortfall is temporary.
Facts about GCC Countries
- Approx 60% of young populations in GCC countries under 30 years.
- Around 64% of the population's own smartphones in the GCC countries and UAE have the highest adoption rate among all nations.
- UAE users spend 3 to 4 hours daily on smartphones, whereas Saudi's has the highest mobile videos playback around worldwide approx 90 million YouTube views every day.
Key Topics Covered:
1. Introduction
2. Executive Summary
3. Research & Methodology
4. Market dynamics
4.1 Growth Drivers
4.2 Key Challenges
4.3 Opportunities
5. GCC Smart Home Market Analysis
5.1 Market
5.2 Application
5.2.1 Lighting Control
5.2.2 HVAC Control Systems
5.2.3 Security & Access Controls
5.2.4 Entertainment Control Systems
5.2.5 Others
6. United Arab Emirates Smart Home Market Analysis
6.1 Market
6.2 Application
6.2.1 Lighting Control
6.2.2 HVAC Control Systems
6.2.3 Security & Access Controls
6.2.4 Entertainment Control Systems
6.2.5 Others
7. Saudi Arabia Smart Home Market Analysis
7.1 Market
7.2 Application
7.2.1 Lighting Control
7.2.2 HVAC Control Systems
7.2.3 Security & Access Controls
7.2.4 Entertainment Control Systems
7.2.5 Others
8. Qatar Smart Home Market Analysis
8.1 Market
8.2 Application
8.2.1 Lighting Control
8.2.2 HVAC Control Systems
8.2.3 Security & Access Controls
8.2.4 Entertainment Control Systems
8.2.5 Others
9. Kuwait Smart Home Market
9.1 Market
9.2 Application
9.2.1 Lighting Control
9.2.2 HVAC Control Systems
9.2.3 Security & Access Controls
9.2.4 Entertainment Control Systems
9.2.5 Others
10. Bahrain Smart Home Market
10.1 Market
10.2 Application
10.2.1 Lighting Control
10.2.2 HVAC Control Systems
10.2.3 Security & Access Controls
10.2.4 Entertainment Control Systems
10.2.5 Others
11. Company Analysis
11.1 Overview
11.2 Recent Development
11.3 Revenue
- Johnson Controls
- Schneider Electric
- Emerson Electric
- LG
- LeGrand SA
For more information about this report visit https://www.researchandmarkets.com/r/7pc559
