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Japan Smart Home Market Analysis, Size, & Forecasts Report 2023: A $17.89 Billion Market by 2028 with Smart Appliances Accounting the the Maximum Revenue Share
Japanese Smart Home Market
Dublin, March 02, 2023 (GLOBE NEWSWIRE) -- The "Japan Smart Home Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
Japan Smart Home Market will reach US$ 17.89 Billion by 2028 from $6.52 billion in 2022, growing at a CAGR of 18.72%
No other country has embraced technology as strongly as Japan. The majority of Japanese people's lives have experienced a technology boom over the past ten years.
This also applies to dwellings, which have evolved from a straight forward modern concept to smart homes. It is anticipated that this demographic trend will persist and have a considerable impact on social and economic institutions.
Modern building automation technology is also essential for enhancing the comfort, security, and accessibility of living for senior citizens and their families.
Japan Smart Home Industry was valued at US$ 6.52 Billion in 2022
By fully exploiting technological innovation, such as IoT and AI derived from the fourth industrial revolution, Japan hopes to create 'Society 5.0' in the future.
The IoT market's rapid growth, numerous manufacturers expanding their product lines, cost-cutting measures made possible by home automation systems, and the growing significance of home monitoring from remote locations are some of the factors that have contributed to the growth of the smart home market in Japan.
The demand for smart home technology is rising, and so are security and privacy breaches. The development of the smart home market has previously been hampered by the absence of standardized operational protocols and electrical interfaces.
Smart Appliances will capture the Maximum Revenue Share
Based on application, The Japan smart home market is classified into six types: Smart Appliances, Security, Home Entertainment, Energy management, Control & connectivity, and Comfort & lighting.
The rising number of smart homes and the growing internet penetration among users primarily drive the smart home appliances market growth. As a result, manufacturers are investing extensively to support the increasing demand from Japanese consumers for feature-loaded smart solutions.
Artificial intelligence (AI) significantly boosts home security and monitoring market innovation. The Japan smart home security market is expected to rise at progressive CAGR thanks to evolving consumer safety and security preferences, an increase in the penetration of connected homes, a rising high net worth population increasing consolidation of market players across the globe.
Smart Speakers and Interactive Security Systems held the Highest Market
Japan's smart speaker market is expected to quadruple, along with increased use of other multimedia devices equipped with intelligent voice assistants. In addition, the deployment of devices such as smart curtains, smart electric controllers, smart lights, and smart appliances such as washers, TVs, and air conditioners is also rising.
Japanese Smart home sectors with strong short-term development potential are lighting control systems and security. Intelligent security products include smart doorbells, smart door locks, smart cameras, human sensors, smart sensors, door and window sensors, water immersion sensors, gas leak sensors, etc.
There is a demand for a safe and secure living environment, especially concerning safety functionalities and discrete monitoring for older adults. In addition, the Japanese government has recently introduced various measures to reduce energy consumption at home to promote energy conservation by the household sector.
Global internet behemoths like Google and Amazon have introduced smart home goods designed specifically for the Japanese market. Additionally, the ubiquitous collecting of enormous amounts of customer data is made possible by the growing usage of remote control and automated services, which fascinates these digital behemoths and is another sector that will expand.
Key Players
Japanese market players have incorporated 'Calm Technology & Design' concepts and technical competence to allow peaceful digital existence in which technology works perfectly with people. They envisage future technology as one that claims to make people happier by enhancing the humanness of human life.
Some key players in the Japan Smart Home Market are Panasonic Corporation, Sony Corporation, Honeywell International Inc., Amazon.com Inc, Schneider Electric, Apple Inc., and Samsung.
To promote the development of smart home technologies, Samsung Electronics Co., Ltd. collaborated with the Home Connectivity Alliance in January 2022. The goal of this relationship is to add fresh and useful features to the product offerings.
Amazon.com, Inc. announced the release of its sound bot, wall echo, and other smart home gadgets in August 2022 as part of its yearly model upgrade. The company's goal to improve the product hardware in order to compete with other businesses is aligned with the launch.
Key Metrics
Report Attribute | Details |
No. of Pages | 155 |
Forecast Period | 2022 - 2028 |
Estimated Market Value (USD) in 2022 | $6.52 Billion |
Forecasted Market Value (USD) by 2028 | $17.89 Billion |
Compound Annual Growth Rate | 18.3% |
Regions Covered | Japan |
Company Profiles:Overview, Recent Developments, Revenue
Panasonic Corporation
Sony Corporation
Honeywell International Inc.
Amazon.com Inc
Schneider Electric
Apple Inc.
Samsung
Application - Market, Number of Active Households & Households Penetration has been covered from 6 viewpoints:
Energy Management
Comfort and Lighting
Home Entertainment
Control and Connectivity
Security
Smart Appliances
Products - Market has been covered from 15 viewpoints:
Smart Speaker
Interactive Security System
Smart Thermostat
Monitoring Camera
Video Doorbell
Smart Light Bulb
Motion Sensor
Smart Light Switch
Door/Video Sensor
Smart Door Lock
Smart Plug
Smart Smoke Detector
Garage Door Opener
Smart Electrical Socket
Smart Oven
Smart Window Shade/Blind
Leak/Moisture Detector
Irrigation Control System
Water Shutoff System
For more information about this report visit https://www.researchandmarkets.com/r/eosr9e
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