Smart Home Market in Taiwan based on Market Size, Growth Opportunities, Statistics, Market Scope, Revenue, Trends Analysis & Industry Forecast Report, 2020-2027
Taiwan Smart Home Market & Trends Analysis Report by Offering (Hardware, Software and Solutions), By Product (Lighting Control, Security and Access Control, HVAC Control, Smart Speaker, Entertainment and Other Controls, Home Healthcare, Smart Kitchen, Home Appliances) – Opportunities & Forecast, 2020-2027
The Taiwan Smart Home market was estimated to be USD xx Million in 2019 and is anticipated to touch USD xx Million by the end of 2027, while increasing at a CAGR of 11% to 15% during the forecast period (2020-2027).
Introduction of the Taiwan Smart Home Market Report
The Internet of Things (IoT) is gaining traction specifically among residential consumers as it offers numerous advantages by connecting household products to the Internet. The accelerating number of internet users, along with the rising adoption of smart devices, are the two key drivers that are contributing to market growth. As per a report released by the Taiwan Network Information Center, in 2018, the average number of internet users within the age of 12 and above amounted to 17.8 Million, and the total number of internet users in the country crossed 18.66 million. 79.2% of the overall population had access to the Internet in the same year.
To have an edge over the competition by knowing the market dynamics and current trends of “Taiwan Smart Home Market”, request for Sample Report here
Market Dynamic
Key Drivers and Emerging Trends
Favourable government policies stand to be one of the key factors that is supporting the growth of the smart home market. The government is focusing on improving the life quality of its people by introducing numerous initiatives and strategies. In 2017, Digital Nation & Innovation Economic Development Program (DIGI+) was launched to enhance digital infrastructure, re-construct service-based digital government, and promote the smart city concept in cities and rural areas. Thus, the growing emphasis on the development of smart cities will supplement market growth.
Furthermore, increasing disposable income has further resulted in consumers opting for different smart solutions at home. This has resulted in growing demand for home and kitchen appliances among consumers. Products such as smart washers, smart dishwashers, refrigerators are witnessing a heathy growth trend. In addition to this, increasing product proliferation by leading players in this categories will further supplement the demand in the coming years. For instance, LG Corporation offers Wi-Fi enabled all in one washer and dryer which allows whole control over the appliance, and works with LG Smart ThinQ app.
Restraint in the Taiwan Smart Home Market
Smart home devices possess biggest risk of cyber-attacks as these devices as these are connected to internet and people lives may depend on the services or security provided by such devices . Therefore, manufactures need to keep cyber security as a major objective while designing smart home technologies.
Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report
Product Type – Segment Analysis
Based on the product type, the smart kitchen segment occupied the largest market share in 2019. The growing importance of kitchen renovation or remodelling to build modular kitchens is a key driver that is boosting the market growth. Individuals are now looking for smart kitchen appliances such as cookware, cooktops, and dishwashers, which can be controlled by devices such as Amazon Echo or Google Home. Furthermore, the expansion of the leading players in the Taiwan market is further opening new doors for the segment growth. In 2017, LG Electronics launched a series of IoT smart home appliances in Taipei, such as washing machines, refrigerators, air conditioners, and cleaning robots.
In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here
Key Developments:
-
- In 2020, Apple officially announced the launch of homepod mini smart speaker with smart home capabilities and built-in security and privacy. This strategic initiative helped in expanding the product portfolio of the company.
- In 2018, Honeywell International Inc. launched retail availability for all-in-one, home security self-monitored security system with facial recognition and Amazon Alexa to meet the people’s need. This is the company’s first security system which can be upgraded and customized with accessories to improve comfort and security of the home.
Segments covered in the Report:
The Taiwan Smart Home market is segmented into offering and product type. Based on offering, the market has been segmented into Hardware, Software and Solutions. Based on the product type, the market has been segmented to Lighting Control, Security and Access Control, HVAC Control, Smart Speaker, Entertainment and Other Controls, Home Healthcare, Smart Kitchen, Home Appliances.
For detailed scope of the “Taiwan Smart Home Market” report request a Sample Copy of the report
Key questions answered in this research report:
-
- At what pace is Taiwan Smart market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in Taiwan Smart Home market? What will be the impact of drivers and restraints in the future?
- Which offering segment generated maximum revenues in 2019 and identify the most promising offering segment during the forecast period?
- What product type segment in leading in Taiwan Smart Homes market and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
Report Coverage |
Details |
Market Base Year |
2019 |
Market Forecast Period |
2020-2027 |
Market Revenues Currency |
USD Million |
Base Year & Forecast Units |
Revenues (USD Million) |
Market Segment | By Offering and By Product Type |
Regional Coverage | Taiwan |
Companies Profiled | Profiles of Top 10 Major Companies Operating in “Taiwan Smart Home Market” |
25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Taiwan Smart Home Market by Offering
-
- Hardware
- Software and Solutions
Taiwan Smart Home Market by Product Type
-
- Lighting Control
- Security and Access Control
- HVAC Control
- Smart Speaker
- Entertainment and Other Controls
- Home Healthcare
- Smart Kitchen
- Home Appliances
Frequently Asked Question About This Report
Taiwan Smart Home Market – Report Code [UP1557A-00-0620]
Smart Kitchen segment dominates the Taiwan smart home market in 2019. The growing importance of kitchen renovation or remodelling to build modular kitchens is a key driver that is boosting the market growth.
The major factors upsurging the growth of the Taiwan Smart Home Market include increasing demand for home and kitchen appliances among consumers, rising adoption of smart devices and increasing number of internet users.
Taiwan Smart Home Market is segmented into Lighting Control, Security and Access Control, HVAC Control, Smart Speaker, Entertainment and Other Controls, Home Healthcare, Smart Kitchen, Home Appliances.
Taiwan Smart Home Market growing at a robust CAGR of 11% to 15% during the forecast period (2020-2027).
- Published Date: Oct - 2021
- Report Format: Excel/PPT
- Report Code: UP1557A-00-0620
Licensing Options
Single-User License:
The report is used by the purchaser (One Individual) only
Multi-User License:Report is shared with maximum 5 users (employees) including the purchaser of the purchasing corporation only
Corporate License:
Report is shared with unlimited user (employees) of the purchasing corporation only
The report is used by the purchaser (One Individual) only
Multi-User License:Report is shared with maximum 5 users (employees) including the purchaser of the purchasing corporation only
Corporate License:
Report is shared with unlimited user (employees) of the purchasing corporation only
Smart Home Market in Taiwan based on Market Size, Growth Opportunities, Statistics, Market Scope, Revenue, Trends Analysis & Industry Forecast Report, 2020-2027
$ 4,499.00 – $ 6,649.00