LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global smart home water sensor and controller market to post a CAGR of close to 5% during the forecast period, according to their latest market research report.
The increasing adoption of smart water controllers to track the total household consumption of water is one of the major trends being witnessed in the global smart home water sensor and controller market 2018-2022. Developments in smart home water sensor and controller technology and compatibility with IoT and big data technology have led to the increased adoption of smart home water sensors and controllers. These detectors are battery operated and can monitor the quality and amount of water consumed during a stipulated period.
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In this report, according to Technavio analysts, one of the key factors contributing to the growth of the smart home water sensor and controller market is the launch of new products with innovative features:
Global smart home water sensor and controller market: Launch of new products with innovative features
The increasing need for equipment to reduce the wastage of water across the globe had motivated vendors to introduce smart home water sensors and controllers equipped with advanced features such as easy setup, alarm system, personalization, Wi-Fi direct connect etc. For instance, Honeywell’s Lyric Wi-Fi Water Leak and Freeze detector is easy to set up and does not require a smart home hub to operate. Similarly, Samsung’s SmartThings ADT Water Leak detector is easy to set up and allows personalization.
According to a senior analyst at Technavio, “The increased innovation and introduction of advanced water sensors and controllers in the market is driving the demand for and adoption of these appliances across the globe. Smart home water sensors and controllers are likely to be installed in most of the upcoming residential infrastructure.”
Global smart home water sensor and controller market: Market segmentation and analysis
This market research report segments the global smart home water sensor and controller market by technology (Wi-Fi and others), and geography (APAC, the Americas, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Wi-Fi segment accounted for more than 52% of the total revenue of the market in 2017. These smart home sensors and controllers are categorized under the premium price range. These controllers are easy to install and have features such as direct connectivity with users’ smartphones.
In 2017, the Americas accounted for a major share in the global smart home water sensor and controller market, followed by EMEA and APAC. However, the region is expected to witness a small decline during the forecast period, while EMEA and APAC are expected to witness a small increase in their market shares.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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