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Peru Smart Home Market Share, Size, Growth, Analysis: By Product: Lighting Control, Security and Access Control, Entertainment, Home Healthcare, Smart Kitchen, Home Appliances, Smart Furniture, Others; By Type: Proactive, Behavioural; By Connectivity: Wired, Wireless, Hybrid; By Distribution Channel; Competitive Landscape; 2023-2028
Peru Smart Home Market Outlook
The Peru smart home market size attained a value of USD 362.77 million in 2022. The market is further expected to grow at a CAGR of 13.10% between 2023 and 2028, to reach a value of USD 759.29 million by 2028.
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Key Trends in the Market
A smart home refers to a type of home which works on an automated ecosystem of networks. It contains interconnected devices and appliances that enable users to conveniently and remotely control different components such as temperature, lighting, and HVAC. Smart homes can be wireless, wired or in hybrid mode, depending upon the requirement and budget of the occupants.
- The rapid adoption of smartphones, laptops, and tablets and growing prevalence of robbery, break-ins, and residential crimes are driving the Peru smart home market.
- The increasing awareness regarding the versatile products available in the smart home market in Peru are a key trend in the market, surging adoption of various smart home technologies such as lighting control, entertainment, home healthcare, and security and access control.
- The rising standards of living, robust urban development initiatives, and strong foothold of major smart home technology manufacturers across the country are further fuelling the Peru smart home market growth.
Market Analysis
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Based on product, the market is segmented into lighting control, security and access control, entertainment, home healthcare, smart kitchen, home appliances, and smart furniture, among others. On the basis of type, the market is bifurcated into proactive and behavioural. By connectivity, the market is classified into wired, wireless, and hybrid. The market is broadly categorised based on distribution channel into online and offline.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Peru smart home market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Amazon.com, Inc.
- Google LLC
- LG Electronics, Inc.
- Samsung Electronics Co., Ltd.
- Schneider Electric SE
- Honeywell International, Inc.
- Life Services SAC
- Importaciones Hiraoka SAC
- Others
Market Share by Product
The security and access control segment, based on product, accounts for a healthy share of the Peru smart home market. Security and access control solutions ensure safety of personal properties, are virtually accessible, decrease the chances of robbery, provide safety to environment 24X7, reduce home insurance rates, and are quick and efficient. Hence, the increasing safety consciousness among Peruvians is bolstering the segment’s growth. In addition, the increasing prevalence of robberies and home break-ins across large Peruvian cities is expanding the growth opportunities for this segment.
Meanwhile, the lighting control segment is expected to witness an accelerated growth in the forecast period. This can be attributed to the rapid transition towards automated lighting technology which makes daily routine lightings synchronous and convenient.
Market Share by Connectivity
Based on connectivity, the wireless segment accounts for a significant share in the Peru smart home market. This can be attributed to their easy controllability and flexibility, greater efficiency, cost savings, and reduced complexity of installation, which offer greater peace of mind to users. Through wireless smart home systems, users can monitor door locks, cameras, alarms, and personal properties in real-time. In addition, the maintenance costs of wireless systems is low, which allows users to spend more on innovative appliances and smart equipment. The hybrid segment is also expected to witness a healthy growth in the forecast period, owing to the easy manageability, and ease of transition for users with wired smart home networks.
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Competitive Landscape
Amazon.com, Inc. is the world’s largest e-commerce company which has a diverse portfolio ranging from cloud computing and electronics, to books, fashion and clothing, and artificial intelligence products, among others. The company has several subsidiaries such as Audible, Amazon Web Services, and Zappos, among others. It was founded in 1994 and is headquartered in Washington, United States.
Google LLC is a subsidiary of Alphabet Inc. which provides advertising and internet related services. The company supports various operating systems, enterprises, and hardware products, making it one of the most successful franchises in the world. The company was founded in 1998 and is headquartered in California in the United States.
LG Electronics, Inc. is a multinational electronics company which has a strong product portfolio including home appliances and air solutions, home entertainment, vehicle component solutions, and business solutions, among others. The company was founded in the year 1958 and is headquartered in Seoul, South Korea. LG Electronics Peru SA is a subsidiary of this company which caters to the electronic demands of the Peruvian population.
Other market players include Samsung Electronics Co., Ltd., Schneider Electric SE, Honeywell International, Inc., Life Services SAC, and Importaciones Hiraoka SAC, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Type |
|
| Breakup by Connectivity |
|
| Breakup by Distribution Channel |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Smart Home Market Overview
8.1 Key Industry Highlights
8.2 Latin America Smart Home Historical Market (2018-2022)
8.3 Latin America Smart Home Market Forecast (2023-2028)
8.4 Latin America Smart Home Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Peru
8.4.5 Others
9 Peru Smart Home Market Overview
9.1 Key Industry Highlights
9.2 Peru Smart Home Historical Market (2018-2022)
9.3 Peru Smart Home Market Forecast (2023-2028)
10 Peru Smart Home Market by Product
10.1 Lighting Control
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Security and Access Control
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 Entertainment
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Home Healthcare
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Smart Kitchen
10.5.1 Market Share
10.5.2 Historical Trend (2018-2022)
10.5.3 Forecast Trend (2023-2028)
10.6 Home Appliances
10.6.1 Market Share
10.6.2 Historical Trend (2018-2022)
10.6.3 Forecast Trend (2023-2028)
10.7 Smart Furniture
10.7.1 Market Share
10.7.2 Historical Trend (2018-2022)
10.7.3 Forecast Trend (2023-2028)
10.8 Others
11 Peru Smart Home Market by Type
11.1 Proactive
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Behavioural
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
12 Peru Smart Home Market by Connectivity
12.1 Wired
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Wireless
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Hybrid
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
13 Peru Smart Home Market by Distribution Channel
13.1.1 Offline
13.1.1.1 Market Share
13.1.1.2 Historical Trend (2018-2022)
13.1.1.3 Forecast Trend (2023-2028)
13.1.2 Online
13.1.2.1 Market Share
13.1.2.2 Historical Trend (2018-2022)
13.1.2.3 Forecast Trend (2023-2028)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyers Powers
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Amazon.com, Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Google LLC
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 LG Electronics, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Samsung Electronics Co., Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Schneider Electric SE
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Honeywell International, Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Life Services SAC
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Importaciones Hiraoka SAC
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Smart Home Market: Key Industry Highlights, 2018 and 2028
2. Peru Smart Home Market: Key Industry Highlights, 2018 and 2028
3. Peru Smart Home Historical Market: Breakup by Product (USD Million), 2018-2022
4. Peru Smart Home Market Forecast: Breakup by Product (USD Million), 2023-2028
5. Peru Smart Home Historical Market: Breakup by Type (USD Million), 2018-2022
6. Peru Smart Home Market Forecast: Breakup by Type (USD Million), 2023-2028
7. Peru Smart Home Historical Market: Breakup by Connectivity (USD Million), 2018-2022
8. Peru Smart Home Market Forecast: Breakup by Connectivity (USD Million), 2023-2028
9. Peru Smart Home Historical Market: Breakup by Distribution Channel (USD Million), 2018-2022
10. Peru Smart Home Market Forecast: Breakup by Distribution Channel (USD Million), 2023-2028
11. Peru Smart Home Market Structure
Key Questions Answered in the Report
The market reached a value of USD 362.77 million in 2022.
The market is estimated to grow at a CAGR of 13.10% in the forecast period of 2023-2028.
The market is anticipated to witness a healthy growth in the forecast period of 2023-2028, reaching a value of USD 759.29 million by 2028.
The rapid transition from conventional home ecosystems to smart home setups, increasing adoption of smart electronic gadgets, rising standards of living, and strong foothold of major smart home technology manufacturers across the region are the major drivers of the market.
The key trends in the market include the increasing awareness of the advantages of smart home systems, technological advancements in existing smart home appliances, and increasing prevalence of robbery and home invasion.
Lighting control, security and access control, entertainment, home healthcare, smart kitchen, home appliances, and smart furniture, among others, are the different products in the smart home market of Peru.
Proactive and behavioural are the various types of smart homes in the market.
Wired, wireless, and hybrid are the different connectivities in the smart home market of Peru.
A smart home enables remote control of various functions of the home such as heating, cooling, and lighting.
Smart home technology refers to the capabilities given to household devices or amenities that enable automation or remote operations.
Amazon.com, Inc., Google LLC, LG Electronics, Inc., Samsung Electronics Co., Ltd., Schneider Electric SE, Honeywell International, Inc., Life Services SAC, and Importaciones Hiraoka SAC, among others, are the key players of the Peru smart home market, according to the report.
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