LONDON--(BUSINESS WIRE)--The global smart home weather station and rain gauge market is expected to post a CAGR of more than 7% over the period 2018-2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is product innovation in terms of technology, performance, features, and design. Vendors that offer smart weather stations and rain gauges are currently focusing on continuous technological innovations to add more value by introducing smart products that enhance their functionality. The concept of controlling home products through the Internet and smartphones has attracted considerable consumer attention in recent times.
This market research report on the global smart home weather station and rain gauge market 2018-2022 provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights product bundling to create product differentiation as one of the key emerging trends in the global smart home weather station and rain gauge market:
Global smart home weather station and rain gauge market: Product bundling to create product differentiation
Product bundling is a prominent marketing strategy where players offer one or more services or products together at a combined price, which is relatively lower than the sum of the individual prices. The strategy behind product bundling is to create product differentiation and enhance the customer value. Vendors in the market are adopting product bundling to sell smart home weather stations and rain gauges.
“The innovation in features and user interfaces of voice-based speakers is trending in the market. The voice-controlled speakers allow users to control the device features and functions from any part of the home without any hassle while doing other work,” says a senior analyst at Technavio for research on home, kitchen, and large appliances.
Global smart home weather station and rain gauge market: Segmentation analysis
This market research report segments the global smart home weather station and rain gauge market by product (smart weather stations and smart rain gauge) and by geographical regions (APAC, EMEA, and the Americas).
The smart weather stations segment accounted for the largest share of the market with over 89% of the market share in 2017. The market share of this segment is expected to increase further over the forecast period due to the high-speed internet connectivity and the presence of forward-looking consumers.
The Americas held the largest share of the market in 2017. The region accounted for 47% of the market followed by EMEA and APAC. The increase in adoption of smart connected products and better Internet connection is enabling the Americas to lead the global smart home weather station and rain gauge market.
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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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