The total market for the Americas smart homes market will be worth $22.4billion by 2020, at an estimated CAGR of 17.62%.
Dallas, TX -- (SBWIRE) -- 02/10/2014 -- Americas Smart Homes Market worth $22.4 Billion by 2020
According to a new market research report “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".
Browse 101 market data tables with 72 figures spread through 370 pages and in-depth TOC on "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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The Americas 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. Security services occupy the largest market share in the Americas market whereas it is lighting control that is projected to grow at the fastest CAGR in the forecast period. The services section covers installation & maintenance, and renovation & customization. The geographical analysis covers the U.S., Canada, Mexico, Brazil, and Argentina.
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Americas real estate industry has been fairly resilient after the financial crisis hit in 2008. For a couple of years, the industry witnessed a slump in demand, especially in the U.S., however, the future is expected to be promising as quantitative easing programs from the U.S. governments have revived the job prospects and therefore a fair amount of housing demand has been witnessed in the U.S. Strong impetus from the smart home product manufacturers and concerns related to security and comfortable living, have become factors of prime importance in the smart homes market. Smart homes device manufacturers are coming up with innovative technologies across different sectors, which include security control, access control, entertainment control, lighting control, energy management systems, home health systems, and HVAC control to name a few. Traditional home automation devices were designed to control the systems within the house and within a limited range of connectivity; but with the recent developments across the different areas of connectivity of appliances and devices, these systems enable the users to monitor and control them even when they are on the move. This includes mobile connectivity features, an integral component of smart homes provided by the device manufacturers; and compatible communication protocols and technologies based products offered by the Internet Service Provider (ISP) service providers. The smart home market revolves around the green home solutions which include smart energy management systems; and follow a minimal usage of energy and monitoring of appliances. With the increasing awareness about energy efficiency and the effective use of the same, a majority of the home owners are, now, being driven towards the smart home concept that not only offers better energy management but also provides security, convenience, and comfort factors. The various smart home associations which conduct R&D in the field of devices and technologies, and protocols & standards related to smart homes include Custom Electronic Design and Installation Association (CEDIA), Consumer Electronics Association (CEA), Digital Living Network Alliance (DLNA), Massachusetts Institute of Technology-Age Lab (MIT Age Lab), and Continental Automated Buildings Association(CABA). Many domestic companies such as Control4 Corporation (U.S.), Lutron Electronics (U.S.), Crestron Electronics (U.S.), Vivint Inc (U.S.), AMX LLC (U.S.) are investing more and more into R&D activities to bring about more innovations and product development with respect to the smart homes products and technologies.
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Smart homes industry is gaining a significant traction, currently, as information and communication technologies are evolving to improve lifestyles. Smart homes have, now, become intelligent, with connected devices and equipment having the ability to coordinate with each other and performing in accordance to the occupant’s inclination. Such intelligent activity results in financial savings as well as increases the comfort levels. In addition to the private companies participating in the energy saving programs, even the governments are proactively considering and promoting energy saving initiatives with several incentives, and organizing educational programs through relevant media. Currently, the U.S. is home to the highest number of installed automation controllers, and contributes the maximum towards the smart homes market.
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