New Software research report from Markets and Markets is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 11/01/2013 -- 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 & Global Forecast (2013 - 2020)
Smart homes refers to a residence equipped with computing and information technology devicesthat anticipate and respond to the needs of the residents; thus, working towards enhancing their comfort, convenience, security, and entertainment through the upgradation of technology within the home. The concept of smart homes has been in picture since a long time; such homes have always been a dream of homeowners and, presently, a lot of developments and regulatory initiatives are taking place with regards to the same.
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The growth of the market in the coming years is expected to be remarkable,with the revenue growth estimated to reach $51.77 billion by 2020, at an estimated CAGR of 17.74% from 2013 to 2020. The major players in this 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 major drivers for the smart homes market include energy saving, increasing ageing population, regulatory initiatives by governments, and more. The introduction of smart meters to conserve energy is another growth opportunity for the smart homes market. Also, the smart electronic devices such as washing machine, refrigerators, air-conditioner, vacuum cleaner, smart TV, and the likes are going to drive the market. Moreover, major restraints like lack of standardization and high initial costs and their impact analysis are also covered under this report.
The report covers the market by products, services, and geography of the smart homes; it provides detailed analysis of the current market scenario and the estimation till the year 2020. The security control and entertainment systems are driving the smart homes market. The market is already progressing well in the developed countries,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 for 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 Porters five force analysis for themarket. All the five major factors in these markets have been quantified using the internal key parameters governing each of them.
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