Global Smart Shade Devices Market Scope Report

Global Smart Shade Devices Market Highlights Over 2023 - 2035

The global smart shade devices market is estimated to garner a revenue of USD 52 Billion by the end of 2035 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of USD 26 Billion in the year 2023. The growth of the market can primarily be attributed to growing digitalization and growing online sale penetration. In January 2021, Ministry of Electronics and Information Technology collaborated with Amazon Web Services (AWS) to establish a quantum computing applications lab in India to accelerate quantum computing-driven research & development and enable new scientific discoveries.

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Smart shade devices and gadgets use IOT to provide wide connectivity features such as controlling natural lights in inner spaces, quick response alerts, mobile app connectivity, remote communication and others. According to the reports, global 5G subscriptions grew by 70 million in the second quarter of 2022, pushing 690 million. On the contrast, 4G subscriptions increased by 77 million to around 5 billion.

Global Smart Shade Devices Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Population and Rapid Urbanization – According to the data published by United Nations, as of 2021, 4.46 billion people live in urban areas, and 3.42 billion live in rural areas globally. The world's urban population has grown rapidly from 751 million in 1950 to 4.46 billion in 2021 and will grow to 6.68 billion by 2050, adding about 2.22 billion people to urban areas. 90% of the projected growth of the world's urban population between 2021 and 2050 will occur in Asia and Africa.

• Rising Demand for easy-to-control and Interconnected Electronics - India saw 655 billion hours spent on mobiles in 2021, a 37% increase since 2019 and the country ranked fifth in the global list with regard to time spent on mobiles after Brazil, Indonesia, South Korea and Mexico.

• Increasing adoption of Solar Powered Shades - Solar PV is becoming the lowest-cost option for new electricity generation. Power generation from solar PV increased by a record 179 TWH in 2021, marking 22% growth on 2020. Solar PV accounted for 3.6% of global electricity generation.

• Increasing IOT adoption across the globe - The number of India internet users is expected to increase by 45% in the next 5 years, to 900 million in 2025, from around 622 million in 2020.

 Challenges

• Increased Cost of the devices

• High Maintenance cost and installation cost

The global smart shade devices market is segmented and analyzed for demand and supply by technology into Wi-Fi, Bluetooth, BLE and others. Out of these, Wi-Fi segment is anticipated to hold the largest share over the forecast period, owing to the, rising penetration of Wi-Fi connectivity and high demand for smart wearable devices. According to reports, around 63% of population of the world uses internet today.

Global Smart Shade Devices Market Regional Synopsis

Regionally, the global smart shade devices market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2035, on the back of rising demand for high–end technological innovation with extensive adoption of products has led to wide scale acceptance of smart shades devices. For instance, over 57 million households in the US are using smart devices in 2022, up from less than 53 million in 2021. Moreover, presence of major key players in the region is also estimated to act as one of the growth drivers for the market. Ontario is the North American runner-up in foreign investment and has attracted national headquarters from tech giants such as Uber, Intel, LG, and Samsung. Ontario also encompasses the Toronto-Waterloo Corridor, Canada’s largest innovation hub harboring more than 15,000 tech companies, over 5,000 startups, and a world-leading quantum computing hub.

Market Segmentation

Our in-depth analysis of the global smart shade devices market includes the following segments:

Key Companies Dominating the Global Smart Shade Devices Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global smart shade devices market that are included in our report are Hunter Douglas.com, Innovative Openings Inc., Elite Window Fashions, Alta Window Fashions, Roll-A-Shade Inc., M Family Enterprises, Draper, Inc., Louvolite, Chicology Inc., Maxxmar Window Fashions and others.

Global Smart Shade Devices Market: Latest Developments

• October, 2021: Roll-A-Shade has announced the launch of The Shade Calculator to be integrated into the new recently redesigned website.

• December 2021: M Family Enterprises, recently made another significant investment in its growth strategy with the acquisition of Futura Title & Escrow LLC, a family of leading independent title and escrow companies providing superior customer service in the Pacific Northwest.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.  

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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