Market Share of Smart Homes Industry
The smart homes market is highly competitive and consists of several major players. In terms of market share, a few of the major players currently dominate the market. The market appears to be moderately fragmented. These major players with a prominent share are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market shares and profitability.
- January 2021 - Samsung launched large-capacity Variable Refrigerant Flow (VRF) air conditioning systems in India that can be installed in just 0.5 sq. m of space in premium apartments, villas, bungalows, and houses as commercial and retail establishments. The Wi-Fi-enabled DVM S Eco series offers smart features, such as voice control and a connected home experience, using the SmartThings app on any smartphone. Each indoor unit can be controlled separately for enhanced convenience. To offer energy efficiency, current, daily, weekly, or even monthly energy consumption can be monitored on the basis of the usage of outdoor units. DVM S Eco series provides ease of installation, wherein up to 16 indoor units can be set up at once.
- March 2021 - Emerson and Ameren Missouri announced a partnership to give away Emerson's Sensi smart thermostats to Ameren Missouri customers. Through instant discounts and participation in the Peak Time Savings program, Ameren Missouri customers will be getting Emerson's Sensi smart thermostat at no cost other than the required sales tax. Participants can significantly save on their bills while using advanced technology that will enable them to control their thermostats from anywhere with a smartphone.
Smart Home Market Leaders
ABB Ltd.
Schneider Electric SE
Honeywell International Inc.
Emerson Electric Co.
Siemens AG
*Disclaimer: Major Players sorted in no particular order
