New Construction research report from Markets and Markets is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 12/23/2013 -- ‘Smart home’ denotes a residence furnished with advanced computational and operational network that automatically operates and responds to the requirements of its residents. This has a major impact on the occupants’ luxury and convenience. These smart homes also serve the purpose of enhancing security measures, and offering lively and timely entertainment purposes, with a clear inclination towards resolving energy scarcity problems; therefore, reducing the carbon emission gases.
The growth of the Americas smart homes market in the coming years is expected to be remarkable, with the revenue growth estimated to reach $22.4 billion by 2020, at an estimated CAGR of 17.62% from 2013 to 2020. The major players in the smart homes industry are Emerson Electric Co. (U.S.), United Technologies (U.S.), Crestron Electronics, Inc. (U.S.), Lutron Electronics, Inc. (U.S.), Control4 Corporation (US), and Universal Devices Inc (U.S.).
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The major drivers for the smart homes market include energy efficient equipment, increasing ageing population with the growing prevalence of chronic diseases, and government incentive programs. Smart meters are playing a pivotal role in making smart homes more efficient. Also, electronic devices such as washing machine, refrigerators, and air-conditioners that are connected to one another and can co-ordinate with a two way information flow, and the likes, are expected to drive the market. Moreover, major restraints like lack of consumer awareness and high initial costs, and their impact analysis, are also covered under this report.
The report covers the market by product, service, and geography of the smart homes; it provides a detailed analysis of the current market scenario and the estimation till the year 2020. The lighting control, security control, and entertainment systems are driving the smart homes market, currently. The market is already progressing well in the U.S., and is expected to grow well even in the developing nations due to the regulatory initiatives from the governments and the increased consumer interest in managing energy consumption.
This report describes the value chain of smart homes market by considering all the major stakeholders in the market and their role analysis. The report also provides a detailed scrutiny of the Porter’s five force analysis for the market. All the five major factors in these markets have been quantified using the internal key parameters governing each of them.
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