Markets and Markets : Smart Homes Market Worth $51.77 Billion by 2020
(M2 PressWIRE Via Acquire Media NewsEdge) 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" http://www.marketsandmarkets.com/Market-Reports/smart-homes-and-assisted-living-advanced-technologie-and-global-market-121.html
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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 report revolves around the different types of smart homes products and technologies deployed in the Smart Homes. The paradigm shift by the home owners from the traditional automation devices to the highly energy efficient and comfort based products has resulted in the adoption of modern and advanced technologies by the global smart homes market. Of the smart homes market products, the security control and the entertainment control are the major products, contributing around 65% to the overall market, in 2012, which accounts for a revenue worth $9.3 billion.
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 higher adoption rates for the mass markets. The services section covers installation & maintenance, and renovation & customization. The geographical analysis covers Americas, Europe, APAC, and ROW.
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 restraints 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.
Browse Related Reports:
European Smart Homes Market by Products (Security, Access, Lighting, Entertainment, Energy Management Systems, HVAC, and Ballast & Battery Pack), Services (Installation & Repair, Renovation & Customization) & Country - Global Forecasts and Analysis 2013 - 2020
Americas Smart Homes Market by Product (Security, Access, Lighting, Entertainment, Energy Management, HVAC, Ballast & Battery Pack), Service (Installation & Repair, Renovation & Customization) and Geography - Global Forecast and Analysis 2013 - 2020
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