Europe Smart Homes Companies (2024 - 2029)

Europe Smart Homes Market Companies Summary

In the European smart homes market, companies are increasing their investments in smart home technologies, driving up adoption rates. These businesses are focusing on products such as voice-activated assistants and smart security systems, which are becoming standard household items. Demand for connected energy management devices, such as smart lighting systems and smart thermostats, is also on the rise, driven by their cost-saving capabilities and user-friendly reputation. This trend is expected to create a need for installation services, positively impacting the market's growth. In addition, smart home devices and services are playing a significant role in smart city programs, with examples of smart home deployments driving smart city benefits through the integration of smart thermostats into utility demand management programs. However, some consumers view the monthly subscription fees charged by service providers as too expensive, leading them to rely on DIY models for their smart home devices. Despite this, the market for smart homes has seen changes in home design preferences due to the COVID-19 pandemic, with a rise in the adoption of security solutions due to the uncertainty of returning to normal life. The concept of a 'smart home' is becoming more practical in the 'new normal' post-COVID-19.