The global home networking devices market is expected to depict steady persistent progression across all regions globally, driven by a surge in customers’ network device adoption and broadband penetration. By varying the various systems at home through system devices, end-users can create a gratifying and contented environment, while limiting the energy intake and affiliated expenses. Consequently, home networking devices market accomplices would pursue innovations that allow the homeowners to integrate all their systems and reduce energy consumption.
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Home networking devices are anticipated to automate daily activities and use technology to avail progressive topographies and features by means of any automated device. Subsequently, elderly people, on account of convenience and comfort, are expected to constitute the major user base for the home networking devices market. Increasing aging population is thereby expected to fuel market growth to a great extent. Emerging necessity to preserve energy & save atmosphere, altering demographics, evolving prerequisite for push button controlled devices, and agility are few other drivers expected to supplement the home networking devices industry growth.
Surge in individual income in developing economies, smart grid accessibility, and growing emphasis of consumer electronics diligence are expected to be major growth prospects for the players in the home networking devices market.
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The home networking devices market can be segmented on the basis of product into HVAC controls, security controls, outdoor controls, and entertainment controls. Based on end-use segments, home networking devices can be segregated into high-end markets and mainstream markets. The wireless protocols used in networking devices further segments them into ZigBee, Wi-Fi, Z-Wave, Bluetooth, EnOcean, RFID, and Synapse technologies.
North America market is expected to portray stable growth rate due to presence of prominent manufacturers and maximum adoption of smart homes systems utilizing full networking functionality. In Asia Pacific region, the home networking devices market is foreseen to grow substantially due to increasing consumer income, higher technological adaptation, and increasing consumer awareness
The top companies that would fuel the demand for home networking devices industry over the forecast period are Siemens AG, Watt Stopper, Vantage Controls, Inc., Ingersoll-Rand PLC, Crestron Electronics, Mechoshade Systems, and Lutron Electronic Ltd.
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