The European smart home market is projected to grow from USD 26.7 billion in 2022 to USD 41.2 billion by 2027; it is expected to grow at a CAGR of 9.0% from 2022 to 2027. The key factors fueling the growth of this market include growing internet access in European region, rising need for energy saving and low-carbon emission-oriented solutions, increasing number of manufacturers expanding their smart home product portfolios, ongoing proliferation of smartphones, surging importance of home monitoring, and increasing safety, security, and convenience offered by smart home products are driving need for them.
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The European smart home market is dominated by key established players such as Honeywell (US), Siemens (Germany), Johnson Controls (Ireland), Schneider Electric (France), ASSA ABLOY (Sweden), Amazon (US), Apple (US), ADT (US), Robert Bosch (Germany), ABB (Switzerland), and Axis Communications (Sweden). These companies focus on adopting both organic and inorganic growth strategies, such as product launches and developments, partnerships, contracts, expansions, and acquisitions to strengthen their position in the market.
Johnson Controls (Ireland) is one of the leading providers of integrated infrastructure and next-generation systems for smart cities and communities. The company is publicly listed on the NYSE. Johnson Controls operates through two major segments—Building Technologies & Solutions that includes Building Solutions North America, Building Solutions EMEA/LA, and Building Solutions Asia Pacific and Global Products. The Building Technologies & Solutions segment offers home security solutions. The company has a widely distributed geographic presence, with the US being a major market. It also offers smart home products through its Building Technologies & Solutions business segment. This segment primarily caters to the needs of the HVAC and building automation industries. It manufactures and markets a wide range of humidity transmitter devices and provides complete technical assistance and energy management consultancy for HVAC systems, building management systems, controls, mechanical equipment, residential air conditioning and heating systems, and industrial refrigerators, among others. It sells a wide range of products pertaining to HVAC equipment and caters to the residential market through notable brands such as Luxaire, Coleman, York, and Guardian.
Johnson Controls is one of the leading players in the European smart home market. The company has a comprehensive product portfolio in the smart home market, with products ranging from HVAC control systems to video surveillance systems. It caters to a large customer base, which helps the company increase its revenue and profit margin. It has a wide geographic reach with a presence in all major countries of Europe, the Middle East, Asia Pacific, and the Americas. The company has 100,000 employees working in nearly 2000 locations worldwide.
Schneider Electric (France) is involved in the manufacturing of industrial engineering equipment and power distribution and automation systems and has offices in over 100 countries. The company operates through two business segments, namely Energy Management and Industrial Automation. Its business revolves about four principal markets: non-residential and residential buildings, utilities and infrastructures, industry and machine manufacturers, and data centers and networks. The company provides hardware, software, and services for energy management and automation solutions and offers smart home systems through the Energy Management segment. Schneider offers to build management systems (BMS) such as HVAC controllers, sensors, valves and actuators, programmable regulators, centralized BMS, space optimization solutions, access controls, video cameras, and security monitoring equipment; and power monitoring and control software. It offers products and solutions for residential and small businesses such as residential and small business electrical protection and control, home automation, home security, network infrastructure and connectivity, surge protection and power conditioning, installation material and systems, light switches and electrical sockets, and uninterruptible power supplies (UPS). The company caters to various industries such as healthcare, oil & gas, food & beverages, mining, water & waste-water management, and cloud and service providers.
Siemens (Grmany) is one of the major companies in the electrical and electronics engineering sector. It has a presence in more than 200 countries across the Americas, Europe, Asia Pacific, and the Middle East & Africa. Besides the production and manufacturing plants located worldwide, Siemens has office buildings, warehouses, research and development facilities, and/or sales offices in almost every country/region in the world. The company operates through the following business segments: Siemens Financial Services, Smart Infrastructure, Mobility, Digital Industries, Portfolio Companies, and Siemens Healthineers. It offers smart home products through its Smart Infrastructure business segment. Through this business segment, the company offers products that create comfortable, safe, and energy-efficient buildings and infrastructures, enhancing the comfort of occupants, efficiency of equipment, and the use of building space. Through this segment, the company also offers products, solutions, and services pertaining to fire safety, security, building automation, heating, ventilation, air conditioning, and energy management. In addition, it offers heating and ventilation controls, security systems such as intruder detection, video surveillance, and building access control, and fire safety solutions such as fire detection, protection alarm systems, and non-water-based fire extinguishers. Siemens drives the digital transformation of the building industry by developing open standard-based building information modeling (BIM)-ready products and services. Through the Smart Infrastructure segment, the company offers products, services, and solutions related to building automation, fire safety, and security, among others. The company has a large customer base, including owners, operators, and tenants of public and commercial buildings, general construction contractors, and system houses.
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