Business
European Smart Home Market to Reach USD 29.24 Billion by 2029 Amidst Safety and Convenience Concerns
The European smart home market, valued at USD 22.11 billion in 2024, is set to reach USD 29.24 billion by 2029, growing at a 5.7% CAGR. Safety, security, and convenience concerns among consumers are the main growth drivers, while high switching costs for current devices present a challenge. Key segments such as lighting control and behavioral systems are projected to see significant growth. Germany's market is poised for rapid growth, supported by government initiatives like the Next Generation
About this update from Honeywell International Inc.
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