Global Smart Homes Market to Grow at 17% CAGR To 2020 - North America (NA) is Expected to be the Largest Market

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Mar 04, 2015, 09:00 ET

DALLAS, March 4, 2015 /PRNewswire/ --

The global smart homes market was valued at $20.38 billion in 2014 and is expected to reach $58.68 billion by 2020 at a compound annual growth rate (CAGR) of 17% - New Research Available at RnRMarketResearch.com

Smart homes refer to a residence equipped with computing and information technology devices that anticipate and respond to the needs of the residents; thus, working towards enhancing their comfort, convenience, security, and entertainment through the automation of technology within a home.Smart homes have already started attracting stakeholders in the market including architects, developers, service providers, and device manufacturers. Complete report on Smart Homes Market by Product (Energy Management System, Security & Access Control, Entertainment Control, and HVAC Control), Protocol and Technology (Protocol, Cellular Technology, and Communication Technology), Service (Installation, and Customization), and Geography (North America, Europe, APAC, and ROW) - Trend and Forecast to 2020 available at http://www.rnrmarketresearch.com/smart-homes-market-by-products-security-access-lighting-entertainment-energy-management-systems-hvac-and-ballast-battery-pack-services-installation-repair-renovation-customization-market-report.html .

The possibility of reduction in the prices of smart homes is driven by the scale of economies and expected adoption of the technology is the key to the market's growth in the future. Stakeholders are keen in developing versatile and widely accepted standards in smart homes. Regardless of the technology and cost of ownership, the operating & maintenance cost, complex installation, user awareness, ability to link disparate systems, Internet security, and demand for housing are some of the challenges in front of players in the smart home market. However, this market is expected to grow at a decent pace in the coming years.

The report profiles prominent market players in the global smart homes market, with their respective market share analysis. Some of the key players are ABB Ltd, Siemens AG, Schneider Electric SA, Ingersoll-Rand PLC, Legrand S.A, Lutron Electronics Co., Inc, Emerson Electric Co, Crestron Electronics Inc, Control4 Corporation and Honeywell International Inc. Order a copy of this report at http://www.rnrmarketresearch.com/contacts/purchase?rname=119473 .

The global smart homes market is expected to grow at a CAGR of 17.00% over the forecast period between 2015and 2020. North America will lead the chart and is the birthplace for various industry majors. The North American market is driven by gaining traction for safety, peace of mind, increased awareness and better product offerings. The benefits of smart homes can only be realized if the technology becomes affordable for common people and accessible to those for whom it is essential. However, this is likely to happen if a broader consumer market gets traction by pushing down prices and creating more awareness. In this report, market size and estimates of the smart home market have been provided along with its various applications and global industry trends. A geographic split of each sub market is also highlighted in smart home market report. Priced at $4650 for a single user PDF, a discount on this research report can be requested at http://www.rnrmarketresearch.com/contacts/discount?rname=119473 .

Key Take-Aways

Analysis of the smart homes market with high-growth sub-segments such as security & access control, energy management system, HVAC control, entertainment control. The impact analysis of market dynamics that describe the factors currently driving and restraining growth of the market; along with future trends observed in the smart home market
Investment strategies based on market growth forecasts & key growth strategies for companies in the smart homes market, detailed through analysis of the competitive landscape
The Porter's Five Forces framework has been applied and explained in detail along with, the value chain analysis for the smart homes market. Illustrative segmentation, analysis, and forecast of major geographic markets has been done to give an overall view of the smart homes market
The competitive landscape has been detailed, by identifying key players along with an in-depth market share analysis with individual revenue and market share

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