Singapore’s Smart Home market report 2019-2025 – the Internet of things is Driving the Smart Home market ResearchAndMarkets.com – Yahoo Finance
The smart-home market in Singapore is estimated at more than US$ 125 million in the year 2018 is predicted to grow two-digit growth rates in the forecast period, to 2025.
Smart homes are residences equipped with information and computing technology devices that anticipate and respond to the request of the owner in an effective and efficient manner. There is a growing demand in the Singapore market for safe living conditions, in particular relating to the security functionalities and discrete monitoring for the elderly.
In line with Singapore’s Smart Nation vision is to improve the quality of life of Singaporeans through the use of digital technology and Big Data, Singapore Housing and Development Board (HDB) has been the use of a suite of smart technologies to improve the planning, Development and management of social housing. With around 80 per cent of Singapore house apartments, various government holding in social agencies work with the industry to develop players and to test smart-home-solutions HDB property.
The growth of Singapore’s smart home market is due to factors such as the rapidly growing IoT market, measures for cost reduction made possible by home automation systems, manufacturer of the expansion of their product portfolio and the growing importance of home monitoring from remote locations. With the increasing demand for smart home devices, security and privacy injury also increase. The problems in relation to privacy and breach of security are a burden on the growth of the smart home market.
- IoT drives, Smart Home market
- > cost-savings Through The adoption of energy-conservation systems
- urbanization, growing awareness & Concern for the Monitoring of Elderly people
- Innovative products
- security and privacy-violation concerns
- Cyber security
This report with the title Singapore’s Smart Home market, the number, market penetration & Key-company-analysis – forecast 2025 provides a comprehensive assessment of the fast-evolving, high-growth in Singapore’s Smart Home industry.
for more information about this report https://www.researchandmarkets.com/r/dz7syt
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