The global smart homes market is expected to reach USD 47.61 billion by 2020, according to a new study by Grand View Research, Inc. Emphasis on reduced carbon emission and energy conservation are expected to be the key driving forces for the market over the forecast period. Favorable regulatory initiatives for implementing smart homes owing to their energy efficiency characteristics are further expected to positively impact the global market over the next six years.
Increased aging population, which
comprises a majority of end-users of this technology, is also expected to boost
market growth. Introduction of smart grids, increased personal income in
developing economies, assistance of power line communication, and growth of
consumer electronics industry are factors expected to favorably impact market
growth. Need for standardization, skilled labor and high initial cost due to
the incorporation of advanced technologies such as IP and Bluetooth may pose a
challenge to industry growth.
For Full Research Report On Smart Home Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/smart-homes-industry
Further key
findings from the study suggest:
- Security applications
dominated the global market and accounted for over 20% of the overall
market share in 2013. This is primarily owing to techniques such as
security cameras, window sensor alarms and burglar alarms which notify
users of a possible security breach. Energy management segment is expected
to witness the fastest growth on account of growing awareness regarding
energy efficiency coupled with the support of regulatory bodies for
development of a smart grid and installation of smart electricity, water,
and gas meters.
- North America is expected to
remain the market leader over the forecast period, and accounted for 41.3%
of the global market revenue in 2013. The market in Europe is expected to
grow at a CAGR of 21.3% from 2014 to 2020, owing to growing adoption of
smart home systems.
- Key industry participants
include ABB Ltd., Siemens AG, Crestron Electronics, Inc., Honeywell,
Emerson Electric Co., Schneider Electric S.A., Legrand S.A., Lutron
Electronics, Inc., Ingersoll-Rand PLC, Tyco International Ltd., AMX and
Control4 Corporation.
Request a Sample Copy of the Report @ https://www.grandviewresearch.com/industry-analysis/smart-homes-industry/request/rs1
Grand View Research has segmented
the global smart homes market on the basis of application and region:
Smart Homes
Application Outlook (Revenue, 2012 - 2020)
- Security
- Lighting
- Entertainment
- Energy Management
- HVAC
- Others
Smart Homes
Regional Outlook (Revenue, 2012 - 2020)
- North America
- Europe
- Asia Pacific
- RoW
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
No comments:
Post a Comment