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Smart Home Water Sensor and Controller Market in North America Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

  • Published: Jun 2021
  • Pages: 120
  • SKU: IRTNTR43295
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The smart home water sensor and controller market in North America's share is expected to increase by USD 89.22 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 7.8%.

This smart home water sensor and controller market in North America research report provide valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the smart home water sensor and controller market in North America segmented by technology (Wi-Fi and others) and geography (US, Canada, and Mexico). The smart home water sensor and controller market in North America report also offers information on several market vendors, including Conservation Labs Inc., Moen Inc., OVAL Digital Inc., Phyn LLC, Resideo Technologies Inc., Roost Inc., Samsung Electronics Co. Ltd., SimpliSafe Inc., Waxman Industries Inc., and Winland Electronics Inc. among others.

What will the Smart Home Water Sensor And Controller Market In North America Size be During the Forecast Period?

Smart Home Water Sensor and Controller Market Size

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Smart Home Water Sensor And Controller Market In North America: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing instances of water leakage and increasing cost of repair in North America are notably driving the smart home water sensor and controller market in North America growth, although factors such as the high installation cost of smart home water sensors and controllers may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the smart home water sensor and controller market in the North American industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Smart Home Water Sensor And Controller Market In North America Driver

One of the key factors driving the smart home water sensor and controller market in North America is the growing instances of water leakage and the increasing cost of repair in North America. The growing instances of water leakage in North America have become a major concern in the region, which is not only leading to significant damage to infrastructure but also adversely impacting the health of consumers and leading to a substantial increase in the costs of home repair and maintenance. Moreover, continuous leakage of water also leads to the wastage of large quantities of water resources. Therefore, the detection of water leakages has become one of the key priorities for developing sustainable housing infrastructure in North America. Furthermore, the failure to replace old water pipes that are prone to leaks may lead to damage to walls and the flooring in houses and cause dampness, discoloration, stains, and streaks on walls. In extreme cases, water leakage may damage the flooring, frames, and support beams, resulting, in destabilizing the internal structure of the building and increasing the risk of the walls collapsing. Therefore, smart water sensors and controllers offer consumers the benefits of detecting such water leaks in real-time, monitoring the automatic control of water flows, and providing alerts to them to act in a timely manner and prevent further damage. Thus, the demand for installing smart water sensors and controllers is increasing from households in North American countries.

Key Smart Home Water Sensor And Controller Market In North America Trend

Advancements in smart home water sensors and controllers are another factor supporting the growth of the smart home water sensor and controller market in North America in the forecast period. Increasing investments by vendors in product R&D are leading to the introduction of advanced products with innovative features in the smart home water sensor and controller market in North America. Moreover, major advancements can be witnessed in the integration of wireless, automated, and cloud-based storage features. Most of this automation is focused on incorporating inline shutting-off features in water valves if and when a leak is detected to prevent further damage. Additionally, vendors in North America are increasingly introducing new products with voice-control features or products that support smart hubs along with voice control options. Moreover, vendors are also providing advanced and innovative smart home water sensors and controllers by integrating voice-controlled personal assistant features. Furthermore, the compatibility of smart home water sensors and controllers with third-party connected devices is also spurring the adoption of products made by vendors. Additionally, the integration of audible alarm systems with smart home water sensors and controllers is trending in the market. Therefore, such advancements have increased the demand for smart home water sensors and controllers across North America.

Key Smart Home Water Sensor And Controller Market In North America Challenge

The high installation cost will be a major challenge for the smart home water sensor and controller market in North America during the forecast period. The high cost of smart home water sensors and controllers is among the major challenges faced by vendors in North America. As of April 2020, the average selling price of a single hub (platform-based) and a single smart home water sensor is $55-$100, depending on the features and the brand. However, in order to develop complete home intelligence in water leakage management, homeowners are required to set up two hubs and ten sensors, which can increase the price significantly to $500-$1,000. Such high costs hinder the adoption of smart water sensors and controllers among highly price-sensitive customers who prefer traditional alternatives. Moreover, apart from the procurement costs, there are also other associated costs incurred by buyers, which include installation costs, repair, and maintenance costs, and battery costs, among others. The installation of smart home water sensors and controllers is a tedious and time-consuming process, and the installation cost of these devices is relatively higher than that of other smart devices with heat and temperature-sensing features. Additionally, the return on investment benefits for smart home water sensors and controllers are realized only in the long term, after 5-8 years. Therefore, the high overhead costs involved hinder the adoption of smart home water sensors and controllers, especially among price-sensitive customers.

This smart home water sensor and controller market in North America analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the smart home water sensor and controller market in North America as a part of the global household appliances market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the smart home water sensor and controller market in North America during the forecast period.

Who are the Major Smart Home Water Sensor And Controller Market In North America Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Conservation Labs Inc. 
  • Moen Inc.
  • OVAL Digital Inc.
  • Phyn LLC
  • Resideo Technologies Inc.
  • Roost Inc. 
  • Samsung Electronics Co. Ltd.
  • SimpliSafe Inc.
  • Waxman Industries Inc.
  • Winland Electronics Inc.

 

This statistical study of the smart home water sensor and controller market in North America encompasses successful business strategies deployed by the key vendors. The smart home water sensor and controller market in North America is fragmented and the vendors are deploying growth strategies such as low prices and strengthening the local customer base to compete in the market.

Product Insights and News

  • Moen Inc. - The company offers a smart home water security system namely Flo.
  • Resideo Technologies Inc. - The company offers the water leak and freeze detector, and cable sensor for wifi water leaks.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The smart home water sensor and controller market in the North America forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Smart Home Water Sensor And Controller Market In North America Value Chain Analysis

Our report provides extensive information on the value chain analysis for the smart home water sensor and controller market in North America, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global household appliances market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated other innovative approaches being followed by manufacturer providers to ensure a sustainable market presence.

 

Which are the Key Regions for Smart Home Water Sensor And Controller Market In North America?

Smart Home Water Sensor and Controller Market Market segmentation by region

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80% of the market's growth will originate from the US during the forecast period. The US is the key market for smart home water sensors and controllers market in North America. Market growth in this region will be faster than the growth of the market in other regions.

Increasing demand for efficient water leakage management from homeowners and the growth in smart city infrastructure development will facilitate the smart home water sensor and controller market in North America growth over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The US market is expected to witness sluggish growth owing to the negative impact of the COVID-19 pandemic in 2020. The slowdown in the construction sector is expected to reduce the demand for smart home water sensors and controllers during the forecast years, but the market will witness a slow recovery through 2025. In December 2020, the US started the vaccination drive and successfully vaccinated over 42% of its population, which resulted in the lifting of many restrictions on commercial activities such as construction, repair work, and maintenance activities. Thus, the demand for smart home water sensors and controllers is expected to recover and grow during the forecast period.

What are the Revenue-generating Technology Segments in the Smart Home Water Sensor And Controller Market In North America?

Smart Home Water Sensor and Controller Market Segmentation

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The smart home water sensor and controller market in North America share growth with the Wi-Fi segments. The Wi-Fi segment will be significant during the forecast period. Wi-Fi technology uses the local area network to provide Internet access within a limited area. Wi-Fi is among the most widespread communication technologies used in home networking and public places. The Wi-Fi technology works on a star networking topology, where all the nodes/devices are connected to a central hub. Hence, it is easy to add or remove devices without affecting the rest of the network. The use of Wi-Fi technology in smart home water sensors offers benefits in terms of the high bandwidth (up to 2 MHz).

This report provides an accurate prediction of the contribution of all the segments to the growth of the smart home water sensor and controller market in North America size and actionable market insights on the post-COVID-19 impact on each segment.

 

Smart Home Water Sensor And Controller Market In North America Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7.8%

Market growth 2021-2025

$ 89.22 million

Market structure

Fragmented

YoY growth (%)

6.55

Regional analysis

US, Canada, and Mexico

Performing market contribution

US at 80%

Key consumer countries

US, Canada, and Mexico

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Conservation Labs Inc. , Moen Inc., OVAL Digital Inc., Phyn LLC, Resideo Technologies Inc., Roost Inc. , Samsung Electronics Co. Ltd., SimpliSafe Inc., Waxman Industries Inc., and Winland Electronics Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Smart Home Water Sensor And Controller Market In North America In Regional Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive smart home water sensor and controller market in North America growth during the next five years
  • Precise estimation of the smart home water sensor and controller market in North America size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the smart home water sensor and controller market in North America across the US, Canada, and Mexico
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of the smart home water sensor and controller market in North American vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Household appliances

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: North America - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: North America: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Technology

    • 5.1 Market segments
      • Exhibit 15: Technology - Market share 2020-2025 (%)
    • 5.2 Comparison by Technology
      • Exhibit 16: Comparison by Technology
    • 5.3 Wi-Fi - Market size and forecast 2020-2025
      • Exhibit 17: Wi-Fi - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Wi-Fi - Year-over-year growth 2020-2025 (%)
    • 5.4 Others - Market size and forecast 2020-2025
      • Exhibit 19: Others - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Others - Year-over-year growth 2020-2025 (%)
    • 5.5 Market opportunity by Technology
      • Exhibit 21: Market opportunity by Technology

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 23: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 24: Geographic comparison
    • 7.3 US - Market size and forecast 2020-2025
      • Exhibit 25: US - Market size and forecast 2020-2025 ($ million)
      • Exhibit 26: US - Year-over-year growth 2020-2025 (%)
    • 7.4 Canada - Market size and forecast 2020-2025
      • Exhibit 27: Canada - Market size and forecast 2020-2025 ($ million)
      • Exhibit 28: Canada - Year-over-year growth 2020-2025 (%)
    • 7.5 Mexico - Market size and forecast 2020-2025
      • Exhibit 29: Mexico - Market size and forecast 2020-2025 ($ million)
      • Exhibit 30: Mexico - Year-over-year growth 2020-2025 (%)
    • 7.6 Market opportunity by geography
      • Exhibit 31: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 32: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Overview
          • 9.2 Vendor landscape
            • Exhibit 33: Vendor landscape
          • 9.3 Landscape disruption
            • Exhibit 34: Landscape disruption
            • Exhibit 35: Industry risks

          10 Vendor Analysis

          • 10.1 Vendors covered
            • Exhibit 36: Vendors covered
          • 10.2 Market positioning of vendors
            • Exhibit 37: Market positioning of vendors
          • 10.3 Conservation Labs Inc.
            • Exhibit 38: Conservation Labs Inc.  - Overview
            • Exhibit 39: Conservation Labs Inc.  - Product and service
            • Exhibit 40: Conservation Labs Inc.  - Key offerings
          • 10.4 Moen Inc.
            • Exhibit 41: Moen Inc. - Overview
            • Exhibit 42: Moen Inc. - Product and service
            • Exhibit 43: Moen Inc. - Key offerings
          • 10.5 OVAL Digital Inc.
            • Exhibit 44: OVAL Digital Inc. - Overview
            • Exhibit 45: OVAL Digital Inc. - Product and service
            • Exhibit 46: OVAL Digital Inc. - Key offerings
          • 10.6 Phyn LLC
            • Exhibit 47: Phyn LLC - Overview
            • Exhibit 48: Phyn LLC - Product and service
            • Exhibit 49: Phyn LLC - Key offerings
          • 10.7 Resideo Technologies Inc.
            • Exhibit 50: Resideo Technologies Inc. - Overview
            • Exhibit 51: Resideo Technologies Inc. - Business segments
            • Exhibit 52: Resideo Technologies Inc. - Key news
            • Exhibit 53: Resideo Technologies Inc. - Key offerings
            • Exhibit 54: Resideo Technologies Inc. - Segment focus
          • 10.8 Roost Inc.
            • 10.9 Samsung Electronics Co. Ltd.
              • Exhibit 58: Samsung Electronics Co. Ltd. - Overview
              • Exhibit 59: Samsung Electronics Co. Ltd. - Business segments
              • Exhibit 60: Samsung Electronics Co. Ltd. - Key offerings
              • Exhibit 61: Samsung Electronics Co. Ltd. - Segment focus
            • 10.10 SimpliSafe Inc.
              • Exhibit 62: SimpliSafe Inc. - Overview
              • Exhibit 63: SimpliSafe Inc. - Product and service
              • Exhibit 64: SimpliSafe Inc. - Key offerings
            • 10.11 Waxman Industries Inc.
              • Exhibit 65: Waxman Industries Inc. - Overview
              • Exhibit 66: Waxman Industries Inc. - Product and service
              • Exhibit 67: Waxman Industries Inc. - Key offerings
            • 10.12 Winland Electronics Inc.
              • Exhibit 68: Winland Electronics Inc. - Overview
              • Exhibit 69: Winland Electronics Inc. - Product and service
              • Exhibit 70: Winland Electronics Inc. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Currency conversion rates for US$
                • Exhibit 71: Currency conversion rates for US$
              • 11.3 Research methodology
                • Exhibit 72: Research Methodology
                • Exhibit 73: Validation techniques employed for market sizing
                • Exhibit 74: Information sources
              • 11.4 List of abbreviations
                • Exhibit 75: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Smart Home Water Sensor And Controller Market in North America market growth will increase by $89.22 million during 2021-2025.
              The smart home water sensor and controller market in north america market is expected to grow at a CAGR of 7.8% during 2021-2025.
              Technavio has segmented the smart home water sensor and controller market in north america market by technology (Wi-Fi and others) ,geography (US, Canada, and Mexico) , and geographic (US, Canada, and Mexico).
              Conservation Labs Inc. , Moen Inc., OVAL Digital Inc., Phyn LLC, Resideo Technologies Inc., Roost Inc. , Samsung Electronics Co. Ltd., SimpliSafe Inc., Waxman Industries Inc., Winland Electronics Inc. are a few of the key vendors in the smart home water sensor and controller market in north america market.
              US will register the highest growth rate of 80% among the other regions. Therefore, the smart home water sensor and controller market in north america market in US is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the smart home water sensor and controller market in north america market growth are:
              • Growing instances of water leakage and increasing cost of repair in North America
              • Advancements in smart home water sensors and controllers
              The smart home water sensor and controller market in north america market vendors should focus on grabbing business opportunities from the wi-fi segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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              • Data on revenue-generating market segments
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