NEW YORK, Feb. 19, 2021 /PRNewswire/ -- The global smart shades market is poised to experience healthy expansion through 2021, experiencing a growth rate of 16.5%, according to a recent report published by Fact.MR. Long-term projections appear equally strong, with forecasts pointing towards a stellar 23% CAGR through 2031. Burgeoning demand for smart homes and rising energy efficiency requirements are expected to catapult the market on such an elevated trajectory.
According to the study, demand is highly reliant on the deepening penetration of ZigBee/Z-Wave technology enabled devices. Recently, in September 2020, the Z-Wave Alliance announced its new Long Range (LR) specifications, extending the transmission range of peripheral Z-wave devices including locks, garage doors and smart shades. The technology aims to increase scalability to over 2000 nodes on a single smart home network.
Consequently, manufacturers are introducing a flurry of Z-wave enabled smart shade devices. Players such as Somfy Systems have been offering these products even before the aforementioned development, unveiling the Z-Wave to Radio Technology Somfy Interface (ZRTSI) and the Z-Wave® Digital Motor Interface (ZDMI) platforms.
Likewise, ZebraBlinds is touting the incorporation of Z-wave enable energy efficiency attainment, equipping blinds with temperature sensor buttons to adjust as per external environmental conditions. Such developments are expected to provide a massive nudge to the global smart shade devices market in forthcoming years.
"As urbanization progresses, demand for smart homes and connected buildings is registering an upward sloping curve, leading to increased investments in green and energy-efficient technologies, widening the berth for internal temperature monitoring smart shade devices in upcoming years," says a Fact.MR analyst.
Key Takeaways from Fact.MR's Smart Shades Market Study
In terms of technology, ZigBee/Z-Wave smart shades to expand at a noteworthy CAGR
High demand for residential smart shades is anticipated through 2021 on the back of growing smart homes popularity
US to experience significant growth, with prominent smart shade manufacturers such as Lutron Electronics and Somfy deepening penetration
Increasing demand for "ubiquitous homes" to heighten sales across the UK
Germany and France to receive a nudge amid growing demands for attaining indoor energy efficiency
India to remain a nascent market through 2021, China to acquire credible gains
Prominent smart shades manufacturers in Fact.MR's report include Hunter Douglas NV, Lutron Electronics Co. Ltd., Somfy Systems Inc., Graber Blinds (Spring Window Fashions), Legrand Group, Vertilux Ltd., Loxone Electronics GmbH, Mechoshade Systems Inc., RYSE (Axis Labs) and Crestron Electronics Inc.
The aforementioned players rely on partnerships with key entities to broaden their product outreach. For instance, in February 2021, Somfy Systems Inc. collaborated with the Sinclair Hotel in Fort Worth, Texas, to create North America's first truly connected building. The company has agreed to supply 500 Power-over-Ethernet (PoE) gateways and around 650 motors for shades and draperies.
In addition, expansion of manufacturing representative networks have helped certain players acquire a larger share in the revenue pie. For example, in January 2021, Loxone Electronics GmbH announced its decision to expand its network of manufacturing reps across the United States, comprising of 7 entities. This is expected to assist the company in marketing and distributing its line of building automation products, including smart shades.
In October 2020, Hunter Douglas introduced a unique solution for PowerView automated shades by unveiling the Rechargeable Battery Wand. The new product line brings about convenient, long-lasting power to automated shading products. These new battery wands can be installed with most shade styles and can also be retrofitted to existing Hunter Douglas automated window treatments. Furthermore, the solution helps reduce waste, conserves resources associated with manufacturing and distributing disposable batteries, leading to cost savings for homeowners.
Fact.MR, in its new offering, presents an unbiased analysis of the global smart shades market. The study divulges essential insights on the basis of technology (Wi-Fi, Bluetooth, ZigBee/Z-Wave, and radio waves), end use (residential and commercial), and sales channel (direct to customer, online sales channels, hypermarket/ supermarkets, specialty stores, and others), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
Key Questions Covered in the Report
How is adoption of Z-wave enabled smart shades growing?
Why is US a lucrative market for smart shades?
How is China expected to emerge as a lucrative smart shade devices landscape?
Why is residential grade smart shades uptake increasing?
Which prominent manufacturers operate in the global smart shades market landscape?
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