Market Share of Asia-Pacific Smart Home Industry
The Asia-Pacific smart home market is fragmented due to the presence of various small and large players. All the major players account for a significant market share and focus on expanding the global consumer base. Some of the significant players in the market are Schneider Electric SE, Emerson Electric Corporation, ABB Ltd, Honewell International Inc., and Siemens AG. Companies are increasing their market share by forming multiple collaborations, partnerships, and acquisitions and investing in introducing new products to earn a competitive edge during the forecast period.
In December 2023, Haier Smart Home Co. Ltd announced its intention to acquire the commercial refrigeration business of Carrier Global Corporation. The vendor intends to restructure the Target Business into the Target Company. With this transaction, the company wants to create a significant hold on molding itself towards environmental sustainability initiatives, pushing alternative refrigerants in the commercial refrigeration industry.
In October 2023, Rinnai Australia announced the acquisition of iZone, a manufacturer of smart home and ducted air conditioning control systems. The acquisition of iZone showcases a noteworthy milestone for Rinnai Australia and broadens Rinnai’s brand portfolio, which also incorporates other well-known Australian HVAC brands, such as Brivis and APAC.
Asia-Pacific Smart Home Market Leaders
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Schneider Electric SE
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Emerson Electric Co.
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ABB Ltd.
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Honeywell International Inc.
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Siemens AG
*Disclaimer: Major Players sorted in no particular order
