Increasing IOT adoption across the globe, Is It Safe?

Global smart shade devices display market is estimated to grow at an exponential CAGR of 90.1% during the forecast period (2022-2030). the major drivers for smart shade devices market increasing demand of smart home devices, increasing adoption of motorized shades, increasing commercial & residential building construction and increasing IOT adoption across the globe. Internet of Things (IoT) capitalizes the concept of connecting and monitoring the real-world things via the internet, while being at the remote place. the purpose of this technology in homes is to make them safe, smarter and automated. Consequently, the smart shade devices are also connected through IoT that propose safety, security and privacy of the house. the IoT focuses on construction of wireless security systems for home. Additionally, home automation IoT devices help in conserving energy and reducing costs with the installation of occupancy sensors.

Increasing Demand for IoT Remains as the Key Driver

According to United States Department of Energy, half of the home’s energy gets utilized in space cooling and heating. Thus, programmable thermostats are used in the home automation systems that are inclined to save energy. Further, other than the home automation, the IoT has spread its roots in the commercial as well as industrial sectors. the commercial sectors in particular adopt the smart shades devices on a high note for controlling the heat and sunlight input within the buildings. Thus, the integration of smart shade devices with IoT is gaining pace across residential and commercial sectors, thereby driving the global smart shade devices market growth. High growth in the connected devices pertain towards the widespread of IoT that in turn drives the global smart shade devices market over the forecast period.

Residential Smart Shade Devices Market Remains as the Largest Revenue Segment

the global Smart shade devices display market has been segmented on the basis of end-user and technology. the end-user segment is further sub segmented into residential and commercial. Residential smart shade devices market leads the end user segment in terms of revenue in the global Smart shade devices market with around 54 % market share in 2021, and is expected to grow at a highest CAGR of 90.4% during the forecast period. 

As per University of San Diego (U.S.), about 25% to 35% of energy wasted through inefficient windows and 40% of cooling requirement is due to heat from the window in residential and commercial spaces. Deployment of smart shades devices may result in approximately 10% saving in the energy bills by smartly managing the windows. Thus, requirement of energy saving smart devices is expected to drive the adoption of smart shade devices. Growing investment in the residential sector is sought to be the primary driver for the growth of residential smart shade devices market. Factors such as increasing smart home penetration coupled with trend of urbanization is also fueling the demand for residential smart shade devices market.

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North America Remains as the Largest Market Yet APAC Promises Lucrative Opportunities

Geographically, the global Smart shade devices display market has been segmented into North America, Europe, Asia Pacific and Rest of the world (ROW). North America leads the global Smart shade devices display market by capturing largest market share in terms of revenue of 39% in 2021. 

Asia Pacific smart shade devices display system market is anticipated to grow at highest CAGR of 91.9% during the forecast period. Growing real estate investment coupled with increasing smart city initiatives across the Asian countries are attributing to the high growth rate for the Asia pacific smart shade market. 

Product Development Remains as the Key Winning Strategy

Product development is the primary strategy adopted by companies in global smart shade devices market. New product development helps the companies to increase its market share by giving them a competitive and increasing product portfolio. Market share of companies in global smart shade devices market was calculated by considering the market revenue of key players, product portfolio extensiveness, research and development spending, geographical presence, investments by companies and strategies adopted in past 3 years i.e. 2019, 2020, 2021 related to the respective market. the market has number of players and some of the key players in the global smart shade devices market include Hunter Douglas (the Netherlands), Lutron Electronics, Inc. (U.S.), Qmotion Shades (U.S.), Somfy (U.S.), Springs Window Fashions, LLC (U.S.) and others.

Key questions answered in this report

• What are the key market segments in current scenario and in the future by regions?
• What are the key market segments in current scenario and in the future by product categories?
• What is the key impact of Covid-19 over market revenues and market determinants in the global smart shade market?
• What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
• What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
• Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
• How to overcome the current market challenges and leverage the opportunities in each of the market segment?
• What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth?