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Smart home is a suitable home system where appliances and devices can be controlled remotely from any internet-connected place in the world using a smartphone or any other networked devices. The headway in technology, for example, the Internet of Things (IoT) and developing mindfulness among the end-clients with respect to productive energy savers – has been driving the smart home companies’ market.
The smart home system requires an interface application or web portal to interact with the automated system. The growth of the smart homes market is primarily driven by factors, such as perpetually growing internet users, increased adoption of smart devices, awareness of fit and healthy lifestyles, and rising sense of home safety and security.
Smart Home Market is expected to grow at a CAGR of 16.5% from 2019 to reach $144 billion by 2025.
Here are the top 10 companies operating in the global smart home market.
Amazon developed a smart device called the Amazon Echo. It was introduced into the American markets in 2015. At that time, the world was just awakening to the idea of having fully automated homes.
Since its release, the Amazon Echo has evolved into a smart device that also functions as a smart hub. With the Echo’s functions as a smart speaker, it can be used to control all the integrated devices in smart homes remotely. All the user needs to do is give a voice command.
Amazon has gone further in its goal to become the biggest smart home company in the United States to produce other smart gadgets that are compatible with the Amazon Echo.
By entering the market this way, it is more convenient for customers to purchase the Amazon Echo and other products such as smart plugs, smart switches, thermostats, and other products.
Google has already made a name in the tech industry. Its smart home product- Google Home, has also been highly patronized by thousands of customers who trust the Google brand.
Their decisions have paid off because Google Home is one of the best smart speakers in the smart home market. What’s more, it has been enhanced with smart connectivity options, amazing CPU, and input options to function as a smart home hub.
Google Home can be integrated with multiple devices and third-party apps, which can be remotely controlled by voice commands in a smart home.
Moreover, it can be used for performing a wide range of tasks:
Not content with playing third fiddle to Amazon and Google in the smart home stakes, Apple is starting to make a serious claim for the king of the smart home company. They may not have as many compatible devices as Amazon or Google, but Apple’s smart home platform – Apple HomeKit – can be controlled by your Mac, iPad, Apple TV, or HomePod, negating the need for a hub.
Where Apple HomeKit shines is its security. Other platforms definitely have a more streamlined process – most just scan your network for compatible devices whereas, with HomeKit, you have to manually add compatible devices by scanning a unique six-figure code on the devices box or in its manual. Still, Apple’s renowned encryption and security standards are second to none and give added peace of mind to smart home enthusiasts.
Back in 2014, Samsung acquired SmartThings, the smart home tech specialists, showing they were serious about developing products for the home of the future.
While smartphones might be their #1 game, Samsung is now producing some seriously impressive smart products, all connected through its voice assistant, Bixby. Products include cameras, hubs, trackers, and, most notably, mesh WiFi.
Tuya Smart is a fast emerging and rapidly growing connected home ecosystem with a huge range of IoT products. These include robot vacuums, smart cameras, smart pet products, smart locks, smart kitchen appliances, smart lighting, smart electrical, smart heating, smart sensors, health related products, and entertainment products. It is currently a market leader in the AIoT segment, which has huge promise and potential for the future. All of its products are heavily supported across Google Home, Amazon Alexa, Yandex, and other smart speakers.
Tuya Smart is a platform without manufacturing facility, all the products are produced by cooperated manufacturers. WeweSmart is a premier manufacturer of Tuya Smart. Through the close cooperation, WeweSmart and Tuya Smart together offer OEM solution and products for global customers.
The multinational tech company is known for everything from kitchen appliances and electric razors to TVs and home audio, Philips has become the dominant producer of one sector of smart home devices – smart lighting – having launched the first smart home lighting system back in 2012.
While their smart TVs and smart toothbrushes are up there with the best of them, Philips Hue lighting is one of the best smart lighting systems on the market. Smart bulbs and light strips, a Hue Bridge and a Hue app let you personalize and control your lighting environment with ease.
The Swedish furniture giant has already had a major influence on the way we furnish our homes. Never one to miss out, IKEA is aiming to play a major part in developing the home of the future.
Bringing its trademark low-cost style and functionality to the smart home game, IKEA has a line of smart WiFi speakers, smart lighting, and smart blinds, with much more to come.
Lidl has already made grocery shopping more affordable; now it’s looking to do the same with smart home accessories. And while smart home devices might not have appealed to budget-conscious consumers, Lidl has arrived on the scene to produce great, affordable smart devices that prove that smart things can be accessible to all.
The brains behind it all is a Silvercrest smart home hub, which links your smartphone to other Lidl smart devices, including smart lights, plugs, and motion sensors.
Mainly known for its wireless charging pads and screen protectors for iPhones and other Apple devices, Belkin is increasingly making its presence felt in smart home devices. Wemo represents its flagship range of smart home products, including Wi-Fi smart plugs, smart light switches, dimmers, and a central bridge.
Ecobee was launched at a time when home automation was becoming the topic of discussion on all tech forums. Ecobee was established as a company with a focus on developing and releasing smart products for occupants of smart homes’ daily use.
The products developed by Ecobee have been immensely helpful in smart homes. They are thoughtful ideas that have helped the occupants of smart homes gain more control and convenience in their homes.
Some of the smart products sold by this brand are smart switches and thermostats. Ecobee has ensured its products are compatible with smart speakers and voice assistants such as Alexa to give its customers more value.
Honorable mentions
Our list above includes the most important companies around, but there is plenty more out there. Honeywell, ABB, GE, Siemens, Bosch, LG, Hive, Tado, and Sony deserve a mention.