Smart Shades Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030

Published on : Feb-2021 | List of Tables : 68 | List of Figures : 150 | No. of Pages : 170 | Report Code : FACT471MR |

About the Report

Globally, demand for smart shades is set to witness intrepid growth during the forecast period of 2020 to 2030, owing to rising aspiration values of consumers and need for comfort and luxury lifestyle, globally. Moreover, smart shades comes equipped with high-end technologies such as ZigBee/Z-Wave, with Bluetooth being the most prominent technology used in these devices. Sales through online channels will continue to hold a major share of the market over the coming years.

Fact.MR, in its latest research report, offers insights on key factors that are expected to fuel demand for smart shades over the next ten years. The report tracks market trends in over 20 high-growth countries, with the regions of East Asia, North America, and Europe accounting for bulk of the demand. The report also details what impact the COVID-19 pandemic has had on this space.

Why do future projections look extremely bright?

Over the historical period, 2015-2019, the global smart shades market expanded at an outright CAGR of 18.2%. Digitalization and growing online sales penetration, as well as escalating adoption of smart home products have been prime indicators for growth over this period.  

Burgeoning IoT market with rising dissemination of connected houses with all the latest digitally-equipped devices has been a key driver for the market. Furthermore, smart shades provide wide connectivity features such as mobile app connectivity, quick response alerts, and remote communication for ease of use for consumers, which has positioned a tactical shift in the market towards large-scale adoption of smart shades and related products.  

By virtue of the aforementioned factors, the global smart shades industry is projected to flourish at a gargantuan CAGR of around 23% over the 2020-2030 assessment period.

What are the benefits of using renewables in smart shades?

Solar-powered smart shades are those with minuscule solar cells within the device, which power the product. These solar cells help power the motor in the device, and save copious amounts of energy cost involved in operating smart shades.

Solar-powered smart shades convert solar power into electric energy, thereby consuming little to no electricity. Moreover, most solar-powered shades are waterproof, and some are provided with an external wire to connect the device to an AC supply when the battery is not charged.

  • For instance, My SmartBlinds has deployed this technology in its home automation kit, and uses solar cells to power the battery. These kits are a retrofitting option and can help save significant amount of money for consumers with the use of a single device.  

Furthermore, increased use of renewables is set to bestow numerous growth opportunities for this space, as progressively, more companies manufacturing smart shades are now opting to make their products equipped with solar cells, which is also helping them reduce their carbon footprint by not using batteries or electricity to power motors.  

The aforesaid factors engenders towering the benefits of using renewables in smart shades.

Why is retrofitting shades growing in prominence?

Retrofitting shades, in simple words, means motorizing existing conventional shades. To retrofit a shade, small devices known as gears are provided by companies, which connect with the existing shades, and have beaded cords or loops. Relatively economic price associated with retrofit shades fascinates middle-income consumers. However, retrofit shades have less features as compared to new products, such as beautiful cutting-edge motor technologies that come with new integrated installations.

Additionally, cost of motorizing an existing shade with a retrofitting option is relatively low with a vast range of advanced features such as mobile app connectivity, remote connections, solar cells equipped motors. These factors trigger the use of retrofit options for consumers with an easy, quick installation process

How will urbanization and increasing aspiration values of consumers affect demand for smart shades?

Urbanization has led to comprehensive opportunities for technology focused markets, historically. A similar trend is visible in the smart devices market as well.

Increasing urbanization in developing economies, globally, and improved quality of living, have led people to spend more on advanced smart technologies for their homes. This urge among consumers with wide extensive branding by manufacturers is triggering sales of smart shades across regions.

Furthermore, increasing per capita income of people, globally, has generated significant spending on their homes as well as smart shades. Additionally, rising investments and extensive R&D by manufacturers in smart technology deployment in shading solutions have led to increased adoption of smart shade.

As such, increasing urbanization with intense investments in smart technology deployments is poised to prop up demand for smart shades substantially over the years to come.

How will increasing operational efficiency in smart shades affect demand?

There is increasing demand from consumers for less noisy operation of smart shade motors. Additionally, there is constant need for miniaturization in motors so as to encompass bigger shades in a small space. 

  • For example, Somfy Systems has launched the world’s smallest motor to be fitted in smart shades. The company, with its roll up 24 wirefree RTS li-ion battery, is powering the brand’s motorized smart shades.

Less noisy motors compel users to opt for advanced technology products, and manufacturers are also tapping this urge to make products that are highly efficient with little to no noise from the operating motor. With miniaturization comes ease of operational efficiency of the motor with less noise.

  • Lutron’s Serena shades have an operational motor with the least noise and smooth operation.

Consumers’ key restriction concerning the use of smart shades was its earsplitting operation. Advancements in motor technology are poised to assist demand growth for smart shades, with universal adoption expected.

What are the key challenges for smart shade manufacturers?

The relatively high cost of mobilizing smart shades at home is considerably impacting overall demand from untapped, high potential, high populace countries such as India, Malaysia, Brazil, etc., thereby missing out on comprehensive opportunities that these potential countries could bestow.

Further, additional requirement of add-ons for deploying smart shades further multiplies the price of overall installation of the product. Lutron’s Serena shades come at a significantly high price with an inbuilt smart battery motor. These shades require consumers to additionally buy a Wi-Fi bridge in order to connect the shades to a Wi-Fi network, as the shades come with a proprietary wireless protocol.

Above-mentioned factors are inhibiting the growth of the highly lucrative market for smart shades.

smart shades market countries

Country-wise Analysis

Why Does the U.S. Lead the Smart Shades Landscape?

During the historical period, 2015-2019, The U.S. market expanded at stonking pace of 19% CAGR. The United States has a history of prompt technological adoption, and is the principal market for smart shades. U.S. consumers have high aspirational values with an inclination of using up-to-date technologies.  

High-end technological innovation with extensive adoption of products has led to wide-scale acceptance of smart shades in the country. Majority of companies such as Lutron Electronics, Meshoshade systems, and Somfy systems primarily operate in the United States, and with wide-scale branding and market penetration, this country is the most lucrative market for smart shades.

What Will Allow China to become the Biggest Market for Smart Shades?

China is set to witness unrivaled growth over the forecast period, at a dominating pace of around 36% over the next ten years. Generally known as the electronics manufacturing hub of the world, China is poised to dethrone the United States as the leading country in the market over the forecast period. This is due to increasing penetration of smart home products in the country, with rising infrastructure spending and utilizing the presence of the huge population. 

Will India Rise Fast in the Global Smart Shades Market Place?

The market in India is poised to expand at an overwhelming pace of approximately 32% CAGR over the forecast period. India has been speedily mobilizing advanced digital technologies, and is disseminating the benefits of the use of IoT with smart connected technologies, thereby propelling market growth.

Moreover, India is currently at the nascent in the smart shades space, and is set to witness massive growth over the coming years by virtue of robust digital network expansion and rising per capita income of the population.  

Category-wise Insights

What is the potential of ZigBee/Z-Wave technology in smart shades?

ZigBee/Z-Wave technology in the smart shades is poised to expand at the highest CAGR within the technology segment. This growth is further complemented by the use of these technologies by prominent manufacturers in smart devices.

ZigBee/Z-Wave technologies are primarily used for smart home automation. These technologies uses IoT in their networks. Further, Z-wave can potentially connect 232 devices with its mesh network, while ZigBee can stock a colossal 65,000 devices in its network.

The only concern among manufacturers is the short range that these networks provide, which is also allayed by the cross connection of these technologies, thus making these networks a primary choice for home automation

How big is the opportunity for residential use of smart shades?

The residential sector has been the chief end user of smart shades, and holds a majority the market share. Consumers find tranquility in purchasing smart shades of their own choice according to their requirements. Residential, as an end use, is poised capture significant market share over the forecast period as well, with the commercial segment lagging far behind.

How will online sales channels shape demand for smart shades?

Smart shades are sold primarily across four chief sales channels, such as direct to customer, online sales channels, hypermarkets/supermarkets, and specialty stores. Among these, online sales are on a groundbreaking growth path. This growth can be attributed to the presence of extensive manufacturing companies on online platforms as well the increasing use of online sales channels by consumers.

Profound penetration of companies such as Amazon, Walmart, and Alibaba has posited corpus opportunities for smart shades to burgeon. In addition, consumers find it easy to buy stuff with a click on their smartphone, which provides comfort and trust with the wide-scale presence of companies on these platforms.

smart shades market competition

Competition Landscape

Fact.MR has profiled the following prominent smart shade providers in its report:

  • Hunter Douglas NV
  • Lutron Electronics Co., Inc.
  • Somfy Systems Inc.,
  • Graber Blinds (Spring Window Fashions)
  • Legrand Group
  • Vertilux Ltd.
  • Loxone Electronics Gmbh
  • Mechoshade Systems Inc.
  • RYSE (Axis Labs)
  • Creston Electronics Inc

The aforementioned companies are considered as prominent players offering smart shades across the world. Key market players are focusing on digital ecosystem with enriched asset connectivity and advanced technology mobilization. Improved product offerings with high-end technology in the industry are key for sustaining in this space.

  • For instance, Somfy Systems Inc., in 2020, launched a new offering in its smart shading solutions, Sonesse Ultra 30 wire free ZigBee li-ion motor.   
  • In addition, Loxone Electronics, in 2019, upgraded its miniserver offering to a new second generation named Gen2 Miniserver, in order to secure https connections and IPv6 support. This demand was ubiquitous from consumers to further improve the connectivity capability of the product. 

Report Scope

Attribute

Details

Forecast Period

2020-2030

Historical Data Available for

2015-2019

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • Spain
  • Italy
  • France
  • U.K.
  • China
  • India
  • Thailand
  • ANZ
  • GCC
  • South Africa

Key Segments Covered

  • Technology
  • End Use
  • Sales Channel
  • Region

Key Companies Profiled

  • Hunter Douglas NV
  • Lutron Electronics Co., Inc.
  • Somfy Systems Inc.,
  • Graber Blinds (Spring Window Fashions)
  • Legrand Group
  • Vertilux Ltd.
  • Loxone Electronics Gmbh
  • Mechoshade Systems Inc.
  • RYSE (Axis Labs)
  • Creston Electronics Inc.

Customization & Pricing

Available upon Request

Key Questions Answered in Report

  • How will the smart shades market expand until 2030?

Fact.MR projects the global smart shades market to register a CAGR worth 23% across the 2020-2030 assessment period. Increasing aspirational values and virtues among consumers and advanced technology implementation are few key drivers of the industry.

  • Which is the most prominent growth region for the sales of smart shades?

As per Fact.MR’s projections, the U.S. is expected to pivot expansion, attributed to the already established smart home market, which is looking boldly towards the adoption of smart shades within the country.

  • What technological breakthrough dominates the market?

In recent years, there is growing accord in the industry to come up with motors that are less noisy and smooth in operation. Leading the pack, Lutron electronics has developed an extremely low noise motor to power smart shades.

Further, use of solar cells to power smart shadows is also on a rapid rise, with companies such as Lutron, Somfy, and Axis Labs launching products with solar battery-powered smart shades.

  • Which players are prevalent in the smart shades landscape?

Prominent players operating in the global landscape include Hunter Douglas NV, Lutron Electronics Co., Inc., Somfy Systems Inc., Graber Blinds (Spring Window Fashions), Legrand Group, Vertilux Ltd., Loxone Electronics Gmbh, Mechoshade Systems Inc., Axis Labs, and Creston Electronics Inc.

Enquiry before Buying

  • Is the research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

  • What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

  • Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request. 

  • Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.

  • How can I buy this report?

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Key Market Segments

Technology

  • Wi-Fi
  • Bluetooth
  • ZigBee/Z-Wave

End Use

  • Residential
  • Commercial
    • Corporate Offices
    •  Hotels and Restaurants
    •  Hospitals
    •  Educational Institutes
    •  Others 

Sales Channel

  • Direct To Customer
  • Online Sales Channel
  • Hypermarket/Supermarket
  • Specialty Stores
  • Others 

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

Smart Shades Market- Scope of Report

A recent study by Fact.MR on the smart shades market offers a 10-year forecast for 2020 to 2030. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of smart shades. The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period.

A detailed assessment of smart shades value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the smart shades market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including demand, product developments, revenue generation, and sales of smart shades across the globe.

A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of smart shades during the forecast period. Price point comparison by region with global average price is also considered in the study.

Market Segmentation

Fact.MR has studied the smart shades market with detailed segmentation on the basis of technology, end use, sales channel, and key regions.

Technology  

  • Wi-Fi
  • Bluetooth
  • ZigBee/Z-Wave
  • Radio Waves

End Use

  • Residential
  • Commercial
  • Corporate Offices
  • Hotels and Restaurants
  • Hospitals
  • Educational Institutes
  • Others

Sales Channel

  • Direct To Customer
  • Online Sales Channels
  • Hypermarkets/Supermarkets
  • Specialty Stores
  • Others

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and Oceania
  • Middle East and Africa (MEA)
 

“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”

Analysis on Market Size Evaluation

The market has been analyzed for each market segment, in terms value (US$ Mn).

Market estimates at global and regional levels for smart shades are available in terms of “US$ Mn” for value. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global smart shades space.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projection on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the smart shades market during the forecast period.

Country-specific valuation on demand for smart shades has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value for emerging countries has also been included in the report.

In-depth Analysis on Competitive Landscape

The report sheds light on the leading manufacturers of smart shades, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of smart shades has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolio and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the smart shades market. Prominent companies operating in the market include Hunter Douglas NV, Lutron Electronics Co., Inc., Somfy Systems Inc., Graber Blinds (Spring Window Fashions), Legrand Group, Vertilux Ltd., Loxone Electronics Gmbh, Mechoshade Systems Inc., Axis Labs, Creston Electronics Inc, and other prominent players

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Smart Shades Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030