Global IT Spending Market For Smart Homes Market Boosted by Increased Spending on Smart Community Projects


Published Date : Oct 24, 2016

ALBANY, NY, Oct 24, 2016: The report titled “Global IT Spending Market For Smart Homes 2016 – 2020” adds many valuable insights over the existing ones that are driving a user’s business ahead. The sharp market evaluations and future predictions allow a user to re-strategize their movement across the global IT spending market for smart homes market and its competitive landscape. 

According to the report, the global IT spending market for smart homes market is expanding at a very impressive CAGR of 18.3% within a forecast period from 2016 to 2020. The key driver attributed to this favorable growth rate is the growing number of smart community projects that are being undertaken across the world, especially in developed economies. A rapidly growing number of consumers are aware of the many benefits that connected homes and smart homes can provide in terms of energy savings and an efficient way to live. As a result, the growing demand for smart homes and the consequent smart communities has allowed the IT industry to invest more in this field.

However, the global IT spending market for smart homes market is currently restricted by a very slow rate of adoption when it comes to the newer technologies. Smart homes are a highly trending market and the rate of technology advancements are fairly high. Despite the innovative efforts and the efficiency-boosting technologies introduced into the market, consumers are slower in terms of uptake, thereby restricting the rate at which this market can grow.

There are still many favorable trends working for the global IT spending market for smart homes market. One of the key trends being highlighted in the report is the growing demand for intelligent control systems that use voice inputs. Voice controlled intelligent systems are being an integral part of the smart homes market and are currently an avenue of high investments for the IT sector.

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The key players in the global IT spending market for smart homes market are all tagged on the basis of their performance over the recent past and how they are expected to evolve over the coming years. The overall competitive landscape of the global IT spending market for smart homes market is thus described in terms of the top players in the market and their activities. These players include Verizon Communications, Schneider Electric, Intel, Honeywell, and Cisco. Other prominent players mentioned in the report include Dell, Telefonica, Qualcomm, Google, Alcatel Lucent, and Accenture.

The global IT spending market for smart homes market is able to provide highly efficient solutions for home networking and networking infrastructure. A lot of the top telecom service providers have already made heavy investments in this market in terms of upgrading existing infrastructure as well as innovating new types.

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