LONDON--(BUSINESS WIRE)--The global smart shade devices market is expected to grow by USD 300.07 million during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
A key factor driving the growth of the market is the increasing demand for energy-efficient solutions. The adoption of appliances such as TVs, refrigerators, security cameras, dishwashers, and microwave ovens is high. These appliances consume large amounts of energy to function efficiently. Owing to the high cost of energy, consumers are on the lookout for energy-efficient solutions such as smart homes. A smart home uses efficient technologies such as programmable thermostats, occupation detectors and motion sensors, along with solar-powered products, and zone-based thermostats to conserve energy and improve efficiency. In line with this, owing to their energy-efficiency, the demand for smart shade devices is increasing. In addition, these products are solar powered with built-in lithium batteries, and are hence cost-effective. All these factors are expected to boost the demand for smart shade devices during the forecast period.
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As per Technavio, the emergence of IoT and AI-based smart shade devices will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Smart Shade Devices Market: Emergence of IoT and AI-based Smart Shade Devices
Mobile devices such as smartphones, tablets, and other consumer electronics are increasingly being used for remote monitoring. IoT is expected to become a more common place, as it provides many advantages to businesses and individuals alike. Moreover, IoT helps transfer the user’s personal preferences to electronic devices, thus reducing human effort in manually controlling devices and appliances. Improved internet connectivity, high penetration of smartphones, and rising awareness of home automation and smart home concept in developed countries are other factors that will drive the demand for smart shade devices.
“Growing online sales of smart shade devices and technological advancements are some of the major factors that are expected to drive the growth of the smart shade devices market over the forecast period,” says a senior analyst at Technavio.
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Smart Shade Devices Market: Segmentation Analysis
This market research report segments the smart shade devices market by distribution channel (retail and others), technology (Wi-Fi, Bluetooth and BLE, and others), end-user (residential and commercial), and geography (North America, APAC, Europe, South America and MEA).
North America led the smart shade devices market share in 2019, followed by Europe, APAC, South America and MEA. The major markets in this region are the US, Canada, and Mexico, with the US being the largest country for smart shade devices. Consumers in the US are increasingly using window-covering products that can be controlled automatically. In addition, the presence of established vendors will further lead to market growth in this region.
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Some of the key topics covered in the report include:
Segmentation by Distribution channel
Segmentation by Technology
- Bluetooth and BLE
Segmentation by End-user
Segmentation by Geography
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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