Global IT Spending Market for Smart Homes - Analysis, Technologies & Forecasts to 2020 - Increased Adoption of Voice Controlled Intelligent Systems - Research and Markets

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Oct 04, 2016, 09:10 ET

DUBLIN, October 4, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Global IT Spending Market for Smart Homes 2016-2020" report to their offering.

The report forecasts the global IT spending in smart home market to grow at a CAGR of 18.13% during the period 2016-2020.

One of the key trends for market growth will be increased adoption of voice controlled intelligent system. Voice-controlled intelligent systems are implemented to control and automate the smart home devices through voice commands. Voice-controlled intelligent smart home devices are programmed by entering the code to perform a specific task in the home. Voice recognition software solutions are widely being implemented in smart home devices to control the appliances through voice recognition technology. Popular voice recognition systems such as Amazon Echo, Apple's Siri, Google Now, and Microsoft Cortana are popular among the smart home solution providers. Voice-activated smart home systems, provided by ABB enable users to control the home appliances through voice commands as per the users' choices.

According to the report, increased use of smart sensor technology will be a key driver for market growth. The use of smart sensor technologies is supporting advanced IT technologies such as M2M communications and analytics. The use of sensor technology to support smart projects, such as smart traffic, smart lighting, smart waste management, and smart grids, are also on the rise. The use of sensor technology in IT solutions, such as IoT for infrastructure development is also gaining traction. Sensors are also embedded in IoT to provide seamless connectivity. Smart sensors make the devices intelligent to detect gestures and motions that help make real-time decisions. Smart sensors are different from traditional sensor technologies because the former are equipped with additional features for smart home automation solutions.

Further, the report states that the increasing rate of adoption of smart home solutions can be witnessed in developed nations compared to developing nations.

Key vendors:

Cisco
Honeywell International
Intel
Schneider Electric
Verizon Communications.

Key Topics Covered:

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Market research methodology

PART 04: Introduction

PART 05: Market landscape

PART 06: Market segmentation by technology

PART 07: Geographical segmentation

PART 08: Market drivers

PART 09: Impact of drivers

PART 10: Market challenges

PART 11: Impact of drivers and challenges

PART 12: Market trends

PART 13: Vendor landscape

PART 14: Key vendor profile

PART 15: Appendix

For related information on this topic, check out the Internet of Things and M2M section of the Research and Markets blog.

For more information about this report visit http://www.researchandmarkets.com/research/9qk8sp/global_it

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SOURCE Research and Markets