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The Peru smart home market attained a value of USD 410.29 million in 2023. The market is further expected to grow at a CAGR of 13.10% between 2024 and 2032, to reach a value of USD 1242.39 million by 2032.
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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 control different components, such as temperature, lighting, and HVAC with convenience and remotely. Smart homes can be wireless, wired, or in hybrid mode, depending upon the requirement and budget of the occupants.
The rapid transition from traditional home setups to smart home ecosystems, rising standards of living, robust urban development initiatives, and strong foothold of major smart home technology manufacturers across the country are factors contributing to Peru smart home market expansion. Additionally, factors such as the awareness of the benefits of smart home systems, technological advancements in existing smart home appliances, and the growing concerns about security and home invasion contribute to the market's expansion.
Availability of voice assistants, integration of AI and ML in home devices, and increasing incidences of robbery in the country are factors boosting the Peru smart home market growth
May 2024
Samsung introduces a new era of AI TVs with the launch of Neo QLED 8K, Neo QLED 4K, and OLED TVs in India. The flagship Neo QLED 8K TV is equipped with the advanced NQ8 AI Gen3 processor, featuring a Neural Processing Unit (NPU) and 512 neural networks for exceptional viewing experiences.
May 2024
LG Smart TV users in Latin America become the first to access the Anime OneGai free service through LG Channels. This service provides a platform for users to explore a variety of anime content seamlessly on their LG Smart TVs.
May 2024
Ring, a leader in home security solutions, unveiled its latest innovation, the Pan-Tilt Indoor Cam. This cutting-edge indoor camera boasts an impressive 360-degree pan coverage and 169-degree tilt coverage, allowing users to monitor their homes with unparalleled visibility.
February 2021
Tuya Smart, a global IoT development platform, has joined forces with Arkifi, a Chilean smart home company. By combining Tuya's IoT development tools with Arkifi's market expertise, the partnership delivered user-friendly and affordable smart home products across households in Latin America.
Rising cases of robbery and home invasion
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 development in terms of advanced security cameras and access control systems.
Voice assistant integration
Another significant trend in the market is the integration of smart home devices with popular voice assistants like Amazon Alexa and Google Home. These assistants allow user to control their smart lights, thermostats, and security systems through voice commands.
Rising incorporation of AI and machine learning (ML)
The incorporation of artificial intelligence (AI) and machine learning algorithms into smart home devices is a trend that is reshaping the Peru smart home market outlook. Smart home products are now leveraging AI to study user behaviour and automate routine tasks like turning off lights when no one is in the room.
Emergence of DIY smart home systems
The emergence of do-it-yourself (DIY) smart home systems is a trend that is democratising smart home technology in Peru. Companies like Importaciones Hiraoka SAC offer easy-to-install smart home kits that include smart plugs, sensors, and a central hub, enabling homeowners to create their own smart home ecosystems.
Another key trend is the increasing demand for advanced security solutions in smart homes, such as smart locks, doorbells, and security cameras. For instance, smart doorbells with built-in cameras allow homeowners to monitor who is at their door and communicate with visitors remotely, contributing to the overall expansion of the smart home security segment in Peru.
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The EMR’s report titled “Peru Smart Home Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
Market Breakup by Type
Market Breakup by Connectivity
Market Breakup by Distribution Channel
Security and access control devices are high in demand, driven by increasing safety consciousness among Peruvians
The security and access control segment, based on product, accounts for a healthy share of the 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, as per Peru smart home market analysis, 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.
Wireless devices are witnessing substantial growth due to their portability and ease of use
Based on connectivity, the wireless segment accounts for a significant Peru smart home market share. 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 cost 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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Market players are continuously launching new smart home products and solutions to cater to the growing demand for convenience, security, and energy efficiency
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 of 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.
Samsung Electronics Co., Ltd. was founded in 1969 and is headquartered in Seoul, South Korea. The company is a global leader in consumer electronics and silicon chip manufacturing, offering air conditioners, mobile phones, semiconductors, refrigerators, monitors, TVs, and AMOLED displays.
Other key players in the Peru smart home market report include Schneider Electric SE, Honeywell International, Inc., Life Services SAC, and Importaciones Hiraoka SAC, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product |
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Breakup by Type |
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Breakup by Connectivity |
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Breakup by Distribution Channel |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Peru Smart Home Massager Market Size
Peru Smart Home Massager Market Growth
Peru Smart Home Massager Market Trends
Peru Smart Home Massager Market Share
Peru Smart Home Massager Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
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 (2018-2023)
8.3 Latin America Smart Home Market Forecast (2024-2032)
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 (2018-2023)
9.3 Peru Smart Home Market Forecast (2024-2032)
10 Peru Smart Home Market by Product
10.1 Lighting Control
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Security and Access Control
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 Entertainment
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Home Healthcare
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Smart Kitchen
10.5.1 Market Share
10.5.2 Historical Trend (2018-2023)
10.5.3 Forecast Trend (2024-2032)
10.6 Home Appliances
10.6.1 Market Share
10.6.2 Historical Trend (2018-2023)
10.6.3 Forecast Trend (2024-2032)
10.7 Smart Furniture
10.7.1 Market Share
10.7.2 Historical Trend (2018-2023)
10.7.3 Forecast Trend (2024-2032)
10.8 Others
11 Peru Smart Home Market by Type
11.1 Proactive
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Behavioural
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
12 Peru Smart Home Market by Connectivity
12.1 Wired
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Wireless
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Hybrid
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
13 Peru Smart Home Market by Distribution Channel
13.1.1 Offline
13.1.1.1 Market Share
13.1.1.2 Historical Trend (2018-2023)
13.1.1.3 Forecast Trend (2024-2032)
13.1.2 Online
13.1.2.1 Market Share
13.1.2.2 Historical Trend (2018-2023)
13.1.2.3 Forecast Trend (2024-2032)
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 2032
2. Peru Smart Home Market: Key Industry Highlights, 2018 and 2032
3. Peru Smart Home Historical Market: Breakup by Product (USD Million), 2018-2023
4. Peru Smart Home Market Forecast: Breakup by Product (USD Million), 2024-2032
5. Peru Smart Home Historical Market: Breakup by Type (USD Million), 2018-2023
6. Peru Smart Home Market Forecast: Breakup by Type (USD Million), 2024-2032
7. Peru Smart Home Historical Market: Breakup by Connectivity (USD Million), 2018-2023
8. Peru Smart Home Market Forecast: Breakup by Connectivity (USD Million), 2024-2032
9. Peru Smart Home Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
10. Peru Smart Home Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
11. Peru Smart Home Market Structure
The market reached a value of USD 410.29 million in 2023.
The Peru smart home market is expected to grow at a CAGR of 13.10% between 2024 and 2032.
The market is anticipated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of USD 1242.39 million by 2032.
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.
Key trends aiding market expansion 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 market.
Proactive and behavioural are the various types of smart homes in the market.
Smart home technology refers to the capabilities given to household devices or amenities that enable automation or remote operation of various functions of the home such as heating, cooling, and lighting.
Based on connectivity, the market is divided into wired, wireless, and hybrid connections.
Key players in the market are 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.
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