Promising Growth Awaits South-East Asia Smart Home Automation Market: Expected to account for a CAGR of 7.4 % during the forecast timeframe.
Published | March 2021
A study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the South-East Asia smart home automation market was worth USD 1.12 Billion in 2020. The market is further estimated to grow at a stellar CAGR of 7.4 % up to USD 2.16 Billion over the forecast period 2021-2030. A smart home is a home setup wherein household electronic appliances are interconnected through the internet. Such smart electronic appliances could easily be accessed remotely via smartphones, or other network-integrated devices for controlling room temperature (via smart-air-conditioners) andwashing of dishes(via smart dishwashers). What’s more, daily household chores such as washing and drying of laundry, etc., can easily be controlled using smart home automation.
“Smart home automation to play a significant role in elderly care and patient care”
The smart home is an automated home with three main elements: sensors, controllers, and actuators; where controllers are the tools used for sending and receiving signals on PCs, tablets, or smartphones about the status of automated gadget’s functions and features at home. These three elements are interconnected to the smart devices around the house via wi-fi, thus, aiding with the controlling, regulation, and activation of the smart home equipment/devices. Additionally, nowadays homeowners prefer automating their house using smart sensors that function as the eyes and ears of your home. The sensors are often integrated into smart homes where elderly people with cognitive disabilities such as dementia, or Alzheimer’s are present. Electronic detection devices powered by Passive Infrared Sensors (PIRs) are used for determining if a person has entered or exited the sensor’s range. These smart and compact sensors are capable of reading individuals’ motion and send out instant alerts. For instance, if an individual has been tagged using a PIR-enabled device, and that same individual leaves the vicinity of the smart home, the sensor would detect the absence of tag from the space, thereby initiating an alarm to gain the attention of the concerned person, authority, etc. Other kinds of sensors such as Pressure Sensors are used to detect the presence or occupancy of residents on furniture pieces, such as a chair, bed, floor, etc. Additionally, the applications of smart baby monitors, which are integrated with lights, and smart air-purifiers which regulate the cleaning on their own, have also encouraged the market to grow.
The adoption of the Internet of Things for smart controlling every device
The growing number of smartphone users and wide acceptance of internet-enabled smart devices are driving the growth of the smart home market. Smart devices are becoming increasingly popular in urban households due to their diverse applications and people's inclination to embrace smart home technology gadgets. The Internet of Things (IoT) has grown in popularity among residential consumers as a result of the benefits gained by connecting household products to the internet. The IoT links goods, software algorithms, providers, and end-users, thereby facilitating real-time decision-makingand a seamless flow of data. It has demonstrated its efficacy by increasing the competence and consistency of automation systems.
Impact of COVID-19 on South-East Asian Smart Home Automation Market
The COVID-19 pandemic has compelled people to change their lifestyles, thereby putting immediate pressure on the smart device industry. Demand for home interior surveillance products such as nanny/pet cams took a blow, while demand for external monitoring devices, such as connected doorbells sky-rocketed. As predicted, increased time spent at home, combined with the closure of the cinema and sports venues, drove the smart entertainment-focused devices into a far more prominent position. For example, Google's Nest Hub, in particular, has introduced new games and the ability to stream Netflix. These improvements were undoubtedly obvious enough, but the need to provide home-based jobs with the same degree of data protection inherent to centralized workplaces has ignited a need for smart surveillance capable of preventing unauthorized activities, such as manually collecting on-screen data or allowing unauthorized people to view such information (often inhabitants of the same home where the work is being done). These factors will drive the market to roar in the upcoming years.
The active players for the South-East Asian smart home automation market are AMX, Automated Living, Colorado vNet, Control4, Cortexa, Crestron, Electronics, Element Controls, iControl Networks, ELK Products, Lagotek, 4Home, Global Caché, Simply Automated, Am-Source International, BTX Window Automation, CentraLite, Leviton, Lutron, Powerline Control Systems, Skyco, Osram, Phillips, Cree.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the South-East Asian smart home automation market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the South-East Asian smart home automation market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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