Market Trends of Europe Smart Homes Industry
This section covers the major market trends shaping the Europe Smart Homes Market according to our research experts:
Lighting Products to have increased adoption across the region
- With the rise in demand for smart homes, and is affordable to automate homes by enabling them with remote control for lights and online communications. Major companies are innovating smart lighting products and making them available for businesses, individuals, and industries. Lighting products are voice-activated with motion sensors and come with features where the energy consumption is less and are more efficient.
- With the high concern of energy waste across the European economy, the government has planned to launch the Green Homes Grant scheme in the month of September 2020. The scheme will provide homeowners vouchers worth up to GBP 5,000 towards the cost of energy efficiency upgrades. These upgrades include everything from better insulation, the move from single to double or even triple glazing, and the installation of more energy-efficient lighting.
- In the region, lighting is said to account for as much as 17% of a typical household鈥檚 electricity bill, so a simple upgrade to more energy-efficient lighting has huge potential savings for households. It鈥檚 also one of the cheaper options offered under the Government鈥檚 Green Homes Grant.
- Moreover, the local governments in Europe are interested in street lighting because it is an easy-to-start technology before lawmakers promise to pay for much more expensive construction projects to destroy old infrastructure. Governments are enticed by the prospect of lower energy bills if lamps with sensors and internet connection live up to their promise of being more efficient.
- Smart lighting is being implemented to change ambiance lighting in real-time, provide responsive control to occupant activities in offices, retail stores, hospitals, educations institutions, and residential buildings. In addition, smart lighting is being considered for innovative applications such as vertical farming, human-centric lighting, etc.
- Players operating in the market ecosystem are expanding their portfolios to fulfill the rising demand of the European region. For instance, in August 2020, WiZ, a smart lighting provider, had announced that its range of connected light bulbs, lamps, LED strips, sensors, and plugs was planned to launch widely across Europe. The company is now part of the Signify group, which operates the well-known Philips Hue brand. WiZ offers much more affordable systems that are easy to set up and secure owing to the elimination of sharing personal information to start the lighting solutions.
United Kingdom to lead the smart home transformation
The rise and development of smart home technology is very surprising. In fact, according to recent statistics from Smart Home Week, 57% of Europeans currently have one or more smart products in their home environment.
According to FatsSaleHome.co.uk digital home assistant such as Google Home, Amazon Echo are on demand in the region. Smart heating functions are expected to grow in the coming days. Moreover, the emerging growth of smart home segment is making the consumers to buy smart kitchen appliances, doorbells and personal care devices such as toothbrushes too.
Major companies in United Kingdom focus on cuttong edge, innovative technologies to enable customers living more comfortably and with with better energy efficiency. The company Trivelhus, a single platform is equipped with smart tools to manage heating, lights, appliances and security with built in smart switches and sockets.
The governemnt also is boosting new plans to for security of smart devices and launched EUR 400,000 funding for building a digital infrastructure. This funcinf will allow businesses to be sure the products they are buying have better cyber security and help retailers be confident they are stocking secure smart products.
The future of the smart homes in coming days is dependent on the product innnovation and adoption of LED smart lights has increased demand. The UK local authority initiated plan to replace 24,000 streetlights with LEDs in 2020. Smart street lighting will enable the region to adapt its street lighting network remotely, providing a critical service even during potential lockdowns and save both energy and maintenance costs.
Smart home making invloves various energy saving devices including smart speakers which are driving the market development. From door locks to security cameras, smart lighting, smart washing machines, this sector is booming with a forecast to reach 84 million homes in Europe by end of 2022 according to a research and marking UK, France and Germany to lead the smart homes transformation across Europe.
