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Single-Family Smart Homes Market 2020 Demand, Growth Analysis, Trneds And Forecast 2023: COVID-19 Growth And Change

The Business Research Company’s Single-Family Smart Homes Market. The report covers market size, key players, market share and trends to 2030.

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Single-Family Smart Homes Market is one of a series of new reports from The Business Research Company that provide Single-Family Smart Homes market overviews, analyze and forecast market size and growth for the whole market, Single-Family Smart Homes market segments and geographies, Single-Family Smart Homes market trends, Single-Family Smart Homes market geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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The single-family smart homes market consists of sales of smart appliances and their related services used in single-family homes. Smart homes are futuristic buildings equipped with advanced electronics and wireless devices. The smart home system requires a web portal or smartphone application to interact with the automated system as a user interface. The smart home appliances include smart entertainment, smart lighting, home security and smart appliances, which are controlled by sensors, timers, switches and remote controllers.

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The global single-family smart homes market is expected to decline from $63.4 billion in 2019 to $60.8 billion in 2020 at a compound annual growth rate (CAGR) of -4.24%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing and remote working, and the closure of industries and other commercial activities. The entire supply chain from production to international trade has been impacted. The market is then expected to recover and reach $104.20 billion in 2023 at a CAGR of 19.7%.

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