Peru Smart Home Market Outlook
According to a new report by Expert Market Research titled “Peru Smart Home Market Size, Share, Analysis, Report, Demand, Growth 2023-2028″, the Peru smart home market reached a value of almost USD 362.77 million in 2022. Aided by the increasing internet penetration and a growing interest in home automation, the market is expected to grow at a CAGR of 13.10% between 2023 and 2028, to reach a value of almost USD 759.29 million by 2028.
Smart home refers to a residential extension of building automation and involves the control and automation of lighting, heating, ventilation, air conditioning (HVAC), and security, as well as home appliances such as washer/dryers, ovens, or refrigerators/freezers. In Peru, the concept of smart homes is gaining momentum due to advancements in technology, rising living standards, and a growing inclination towards energy-efficient solutions.
Peru smart home market growth is significantly driven by the increased internet penetration in the country. The proliferation of smartphones and high-speed internet has opened up new opportunities for smart home service providers and has played a critical role in driving the adoption of smart home devices.
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Furthermore, the increased consumer awareness and understanding of the convenience, security, and energy efficiency provided by smart home solutions are also contributing to the Peru smart home market expansion. People are becoming more interested in home automation technology that allows remote control of various household functions to make life easier and more efficient.
Moreover, smart homes are seen as an important contributor to energy efficiency. With Peru’s growing focus on sustainable living and reducing carbon footprints, energy-efficient solutions offered by smart home devices have become highly appealing to consumers. This trend, in turn, is propelling the Peru smart home market growth.
Beyond the energy efficiency and convenience offered by smart home solutions, safety and security have become a critical consumer demand. In response, key players in the Peru smart home market are offering integrated security solutions, including smart alarms, surveillance cameras, and door locks. The adoption of these security solutions is expected to increase significantly over the forecast period, thereby stimulating the market’s growth.
The Peru smart home market development is further boosted by government initiatives aimed at promoting smart city projects, which inherently include the smart home concept. Investments in smart grid projects, infrastructure development, and implementation of IoT in public utilities are expected to drive the smart home market.
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Peru Smart Home Market Segmentation
The market can be divided based on product, type, connectivity, and distribution channel.
Market Breakup by Product
- Lighting Control
- Security and Access Control
- Home Healthcare
- Smart Kitchen
- Home Appliances
- Smart Furniture
Market Breakup by Type
Market Breakup by Connectivity
Market Breakup by Distribution Channel
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Peru smart home companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Amazon.com, Inc.
- Google LLC
- LG Electronics, Inc.
- Samsung Electronics Co., Ltd.
- Schneider Electric SE
- Honeywell International, Inc.
- Life Services SAC
- Importaciones Hiraoka SAC
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