Dallas, TX -- (ReleaseWire) -- 07/14/2014 -- Smart homes industry is gaining interest among a majority of homeowners, new home buyers and property developers, and housing industries across the world. Wide range of products and evolved form of connectivity technology, which is projected to make life secured, convenient and comfortable— are the key reasons that are drawing various smart home product manufacturers, government and end users towards the smart home concept. Currently, Americas is home to the highest number of installed automation controllers, and contributes the maximum towards the smart homes market. Due to the growing middle class and rise in income of the middle class people in APAC region, it is expected that APAC region will grow at a relatively higher CAGR, due to the increasing construction activities and stable growth in the housing industry in Asian countries such as China, India, Japan, South Korea, and others.
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According to a new market research report "Smart Homes Market - by Products (Security, Access, Lighting, Entertainment, Energy Management Systems, HVAC, and Ballast & Battery Pack), Services (Installation & Repair, Renovation & Customization) and Geography - Analysis & Forecast (2013 - 2020)'’, published by MarketsandMarkets, the total market for the Global Smart Homes Market will be worth $51.77 billion by 2020 at an estimated CAGR of 17.74%.
Browse 112 market data tables and 83 figures spread through 448 pages and in-depth TOC on "Smart Homes Market".
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Smart homes systems are commonly used to define a residence that integrates various home automation systems, which allows these systems to communicate with one another through a home controller. The smart homes system encompasses communications, entertainment, security, convenience, and information systems.
The global Smart Homes Market covers the entire industry on the basis of products, services, and geography. The products section covers security & access control, entertainment systems, lighting control, HVAC control, and home health systems; along with their current and future estimations. Of all the major products, security systems are expected to have the highest adoption rates in the mass markets. The services section covers installation & maintenance, and renovation & customization. The geographical analysis covers Americas, Europe, APAC, and ROW.
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Siemens AG. (Germany)is dedicated to automation of homes in all aspects and has the presence in markets across various geographies. The company provides full range of products and services for an intelligent smart home, from across the business divisions it operates from. For instance, the information & communications division offers communications; automation & control provide automation & drives; medical for home health care; lighting from OSRAM; appliances from the BSH (Bosch & Siemens Appliances) and IT equipment from Fujitsu Computers. The company is involved in huge investments in research & development of smart home products. Recently, the Siemens Building Technologies division launched second-generation RDD/RDE room thermostats. The thermostats have a contemporary design and new touch controls that allow them to be operated without pressing any buttons. Also, the division introduced new passive infrared motion detectors that offer protection against intrusion. These devices employ the patented “Magic Mirror technology” from Siemens, which sets new standards in detection sensitivity and enables an extremely compact design. Magic Mirror detectors are less susceptible to false alarms.
The major drivers for the global Smart Homes Market are energy & cost saving, reduced carbon emissions, ageing population, security and convenience, government initiatives, and many more. There are restaurants in the market such as lack of standardization, high initial costs, and economic slowdown in the European region which are inhibiting the market growth. Assistance of power line communication (PLC) and smart-grids are the key opportunities for the global Smart Homes Market.
The major companies involved in the global smart homes industry are Siemens AG (Germany), Schneider Electric S.A. (France), ABB Ltd. (Switzerland), Ingersoll-Rand PLC (Ireland), Tyco International Ltd. (Switzerland), Emerson Electric Co. (U.S.), Legrand S.A. (France), Crestron Electronics, Inc. (U.S.) , Lutron Electronics, Inc. (U.S.), Control4 Corporation (US), and more.. The U.S. will remain the leading market for the Americas smart homes throughout the forecasted period due to its High adoption rate and continuous development.
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