DUBLIN, Jan. 23, 2020 /PRNewswire/ -- The "Japan Smart Home Market, Number, Household Penetration (by Application Areas), Policies, Trends & Key Company Profiles - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The 110-page report with 43 figures and 4 tables has been analyzed from 7 viewpoints:
- Japan Smart Home Market, Volume, Household Penetration & Forecast (2015 - 2026)
- Japan Smart Home Market Share Analysis - By Application Areas (2015 - 2026)
- Japan Smart Home Active Households Share - By Application Areas (2015 - 2026)
- Japan Smart Home Market, Number of Active Households & Households Penetration - By Application Areas (2015 - 2026)
- Japan National Smart Home Standardization Policy
- Japan Smart Home Market - Key Company Profiles
- Japan Smart Home Market - Growth Drivers and Challenges
The Smart Home Market in Japan is Predicted to Exceed US$ 10 Billion by 2026
There is a growing demand in the Japanese market for a safe and secure living environment, especially concerning safety functionalities and discrete monitoring for elderly people; also, since the Great East Japan Earthquake in 2011, Japan has been focused on building energy-efficient smart homes and supportive devices.
A smart home is a system that allows homeowners to control and monitor different devices in-home, including the heating, lighting, security, and entertainment, automatically and sometimes remotely via the Internet. In Japan, household penetration for smart home applications is estimated at around 12% in 2019.
The lack of standard operational protocols and electrical interfaces has previously impeded the growth of the smart home market. The Ministry of Trade, Economy, and Industry, together with the JSCA (Japan Smart Community Alliance), designated the ECHONET Consortium's ECHONET Lite protocol as the country's recommended standard for HEMS equipment. Japan aims to achieve Society 5.0 in the future through the full utilization of technological innovation including IoT, AI and Big Data derived from the fourth industrial revolution.
The growth of smart home market is attributed to factors such as a significantly growing IoT market, cost reduction measures enabled by home automation systems, a large number of manufacturers expanding their product portfolios, and the increasing importance of home monitoring from remote locations. With the increasing demand for smart home devices, security and privacy breach are also increasing. The issues pertaining to privacy and security breach are restraining the growth of the smart home market.
By Application Areas
In terms of Smart Home applications, Smart Appliances captured the maximum share of the Japan smart home market. Smart appliances are the next generation of home appliances that have the ability to receive, interpret, and act on a signal received from a user, and then they automatically adjust their operation to save energy. Control and Connectivity is the second-largest application segment of the Japan smart home market, followed by Security applications at the third spot.
Control and Connectivity are at the heart of smart home solutions, enabling everything from smart appliances to lighting, from temperature control to security. Home Entertainment market captured nearly an 18% share of the market in 2019, while the Energy Management application captured the least share of the Japan smart home market.
On the basis of Smart Home volume, Control and Connectivity segment captured the highest share of the Japan Smart Home active households in 2019, being followed by Comfort and Lighting and Home Entertainment segment. The growth of home automation and rapid developments in wireless smart technology has led to an explosion in the range of smart home entertainment devices, thus driving the market for the smart home. Security application captured the least share of the Smart Home active households in 2019.
With an improvement in network infrastructure, broadband and internet penetration has increased, and consumers are increasingly opting for wireless and technologically advanced products to ensure more security for their families. As the trend towards home automation and smart homes grows, the market will witness significant growth.
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SOURCE: Research and Markets
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