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Lucintel Forecasts Home Automation Market to Reach $101.1 Billion by 2027
According to the recent study from Lucintel the home automation market is projected to reach an estimated $101.1 billion by 2027 from $56.4 billion in 2021, at a CAGR of 10% from 2020 to 2027. Growth in this market is primarily driven by increasing consumer need for simplicity of functioning and personalized experience, increasing awareness related to safety and security, and the growing adoption of cloud-based technologies.
Browse 73 figures / charts and 85 tables in this 157 – page report to understand trends, opportunities and forecast in home automation market by application (safety and security, entertainment control, lighting, HVAC control, and others), installation type (managed service, luxury, mainstream, and DIY), technology (wired and wireless), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Download sample report and view detailed Table of Content by clicking on below link https://www.lucintel.com/home-automation-market.aspx
“Safety and security market is expected to remain the largest segment during the forecast period.”
Based on application, the home automation market is segmented into safety and security, entertainment control, lighting, HVAC control, and others. Lucintel forecasts that the safety and security market is expected to remain the largest segment due to the increasing need for continuous monitoring services to reduce the risk of crime, burglary, and theft.
“Within the home automation market, managed service segment is expected to remain the largest installation type”
Based on installation type, the managed service segment is expected to witness the largest installation type segment due to the increasing demand for 24/7 monitoring service.
“North America will dominate the home automation market in near future”
North America is expected to be the largest region with the largest market due to the increasing usage of technologies and digitalization in the US and Canada. Asia Pacific is expected to witness the highest growth over the forecast period because of increasing awareness on safety, security, and energy efficiency.
Major players of home automation market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. ADT Corporation, Control4 Corporation, United Technologies Corporation, Honeywell, Johnson Control, Siemens AG, Acuity Brands, AMX Inc., Monitronics International, and Vivint Inc are among the major home automation providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. We also have reports related to home automation in the area of smart home market (https://www.lucintel.com/smart-home-market.aspx), smart lighting market (https://www.lucintel.com/smart-lighting-market.aspx), and fire detector market (https://www.lucintel.com/fire-detector-market.aspx). For a detailed table of contents on any one of the above reports please contact us at +1-972-636-5056 or email us at [email protected].
Latest News
Indian Mortgage Fintech Firm Raises $40M to Facilitate Homeownership for Low-Income Groups
India’s housing loan market faced challenges amid the Covid-19 pandemic but is now showing signs of recovery. With a valuation of US$300 billion, the sector is projected to grow at a compound annual growth rate of 22.5% over the next five years.
However, lower-income groups continue to be underserved, lacking access to long-term credit, including housing mortgages, from established financial institutions.
Addressing this gap is Altum Credo, a housing finance firm based in India. The company recently secured US$40 million in a Series C equity round led by Z3Partners and Oikocredit, with participation from British International Investment, Aavishkaar Capital, and Amicus Capital. Of this amount, US$27 million was raised through equity funding, while the remaining US$13 million facilitated a partial exit for its Series A investors.
Founded in June 2017, Altum Credo leverages technology across its entire loan lifecycle, allowing applicants to apply for loans online. The majority of Altum Credo’s customers, comprising 93%, are first-time homeowners from economically weaker sections and low-income groups.
The fresh funds will enable Altum Credo to boost its assets, currently worth US$100 million, enhance distribution channels, and expand operations. The company aims to extend its footprint into central and northern India in the future.
Beyond India, where the housing loan market is fragmented, startups in Indonesia are also venturing into the mortgage fintech space. Additionally, Singapore-based LXA, focusing on streamlining the mortgage lifecycle, recently raised a US$10 million seed round in late 2023.
Source: techinasia.com
The post Indian Mortgage Fintech Firm Raises $40M to Facilitate Homeownership for Low-Income Groups appeared first on HIPTHER Alerts.
Latest News
Trade Facilitation Commission Launches Initiative to Boost UK Exports and Foster Economic Growth
New Commission set up to help UK traders access international markets
LONDON, April 19, 2024 /PRNewswire/ — Some 30,000 UK companies who exported goods in 2021 do not do so today. The Trade Facilitation Commission (TFC) has been established to bolster UK small and medium-sized enterprise (SME) global trade activity, addressing the current challenges where less than 10% of UK SMEs engage in goods exports, a third of GB importers are unsure of their customs duty payments and nearly half have experienced delays at the port.
Despite the potential for growth through international trade and mutual recognition agreements many UK SMEs face barriers ranging from complex regulations to limited resources, hindering their ability to engage in global trade activities effectively.
“The Trade Facilitation Commission is dedicated to unlocking the potential of UK SMEs in the global market,” said Lord Agnew, Chairman of the TFC.
Robert Hardy co vice-Chairman added “Our initiatives aim to remove barriers, provide support, and equip SMEs with the tools and resources they need to succeed in international trade.”
Through a comprehensive approach, the TFC plans to implement various measures to facilitate trade and support SMEs, including:
- Simplifying trade procedures and reducing bureaucratic hurdles to make global trade more accessible and efficient for SMEs.
- Providing tailored assistance and guidance to SMEs, including access to market intelligence, trade finance, and trade training programs.
- Strengthening partnerships with key stakeholders, including government agencies, industry associations, and trade promotion organisations, to coordinate efforts and maximise impact.
- Leveraging technology to digitise trade processes, improve transparency, and enhance the competitiveness of UK SMEs in the global market.
“By fostering an environment conducive to trade, we not only empower businesses but also drive economic growth and prosperity for the nation as a whole,” said Shanker Singham, co vice-Chairman of TFC.
The launch of these initiatives underscores the TFC’s commitment to fostering a supportive environment for trade and driving inclusive economic growth. By empowering UK SMEs to expand their presence in global markets, the Commission aims to unlock new opportunities, drive innovation, and propel the nation towards greater prosperity.
Website: www.facilitation.trade
About Trade Facilitation Commission
The Trade Facilitation Commission (TFC) is dedicated to promoting trade facilitation and supporting SMEs in the UK. With a focus on reducing trade barriers, enhancing competitiveness, and fostering economic growth, the TFC works closely with stakeholders to streamline trade processes and empower businesses to seize global opportunities. Through advocacy, policy initiatives, and capacity-building efforts, the Commission aims to create an enabling environment for trade and drive sustainable development across the UK.
About the Commissioners
LORD AGNEW – CHAIRMAN
Former Minister of State at the Cabinet Office (2020-2022) responsible for border readiness related to UK’s exit from the European Union.
ROBERT HARDY – CO VICE CHAIRMAN
Founder and CEO of the EORI Group of companies, specialising in simplified customs processes. AIBF UK-Irish Business Person of the Year 2023.
SHANKER SINGHAM – CO VICE CHAIRMAN
One of the World’s leading experts on international trade, competition and regulatory reform. Co-Chair of the Growth Commission.
LARS KARLSSON
Global Head of Trade and Customs at Maersk. Former Director of World Customs Organisation and Director General of Swedish customs.
TONY SMITH CBE
Former Director General of UK Border Force and Director of Borders Canada. Awarded a CBE for vital role in delivering 2012 London Olympics. Chairman of IBMATA (Int Border Management and Technologies Association)
KEVIN FRANKLIN
Former Director of Customs Transformation at HMRC. Associate of the Cabinet Office infrastructure and projects authority.
FRANK DUNSMUIR
Leads the Digital Transformation team at IOE&IT, projects include Kenyan Single Trade Window, UK EcoSystem of Trust, Freeports as well as projects working with Europoort in the Netherlands
KEVIN SHAKESPEARE
Director of Strategic Projects and International Development at IOE&IT (Institute of Export and International Trade). Dean of the UK Customs Academy.
CHRIS SALMON
Former senior advisor to Michael Gove MP on Brexit Border Readiness. Co-Founder of clearBorder a firm specialising in trade training.
Logo – https://mma.prnewswire.com/media/2392028/TFC_logo_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/trade-facilitation-commission-launches-initiative-to-boost-uk-exports-and-foster-economic-growth-302122199.html
“Gigs Appoints Rishi Sachdeva as Head of Fintech”
San Francisco-based Telecom-as-a-Service (TaaS) platform, Gigs, has appointed Rishi Sachdeva as its new head of fintech.
In his new capacity, Sachdeva will lead the fintech strategy and expansion efforts at Gigs, with a specific focus on overseeing key partnerships. He takes over the role from Rafael Plantier, who transitions to the position of head of go-to-market at Gigs.
Hermann Frank, co-founder and CEO of Gigs, expresses confidence in Sachdeva’s capabilities, noting his extensive knowledge and networks. Frank believes Sachdeva’s expertise will enable Gigs to capitalize on the growing interest among fintech companies seeking to integrate its solution.
Prior to joining Gigs, Sachdeva held prominent positions at fintech heavyweight Stripe, where he served as head of GTM partnerships and business development for six years. He also held key roles as head of developer partnerships and platform product at Betable.
Established in 2020, Gigs offers financial institutions the ability to provide mobile and data plans alongside credit or debit cards, positioning itself as the world’s first TaaS platform.
Sachdeva’s appointment contributes to the ongoing expansion of Gigs’ leadership team this year, following the appointment of Steven van Bommel as head of finance in January.
Source: fintechfutures.com
The post Gigs Welcomes Former Stripe Executive Rishi Sachdeva as New Head of Fintech appeared first on HIPTHER Alerts.
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