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Smart Homes in Asia-Pacific—A CEO’s 360-Degree Perspective

  • December 2013
  • -
  • Frost & Sullivan
  • -
  • 92 pages

Building Homes Beyond Green

Residential buildings in Asia-Pacific will continue to evolve and it will be directly affected by the growth in population and urbanization rate, as well as development of new cities and new economic zones. Smart homes will emphasize on eco-friendly building materials in addition to the deployment of energy saving devices and information and communications technology (ICT), as well as advanced technologies such as home fuel cells. Favorable factors such as the need to reduce energy consumption, are positively influencing the adoption of smart homes in Asia-Pacific. Market participants in the synergistic smart home value chain will face competition at both intra-industry and inter-industry level.

Executive Summary—CEO 360 Perspectives

Mega Trends
• The buildings industry is expected to be directly affected by the mega trends related to population and urbanization rate.
• The rise in population in Asia Pacific is likely to push the demand for new residential houses, especially in China, India, and Indonesia.
• Emergence of new cities or satellite cities and new economic zones will spur construction of residential buildings.
• Increasing energy consumption with rise in construction is likely to give way to high-tech (smart or green) innovations, introducing various green technologies in future buildings, including residential.

Industry Convergence
• Asia-Pacific is a heterogeneous market, with smart homes at different stages of evolution.
• Smart homes will emphasize on eco-friendly building materials in addition to the deployment of energy saving devices, and information and communications technology (ICT).
• ICT platform integration gives property developers a complete lifecycle approach to the construction of new houses.

Technology
• Cost efficient LED lamps would eventually replace traditional light bulbs in the near future.
• Home-based miniature fuel cell technology would boost the market for ‘zero energy’ homes.
• Remotely controlled building automation systems will increasingly become a necessity in the future.
• Integration of IT with waste removal system will be common and it will be used to gauge, manage, and minimize the volume of household waste.

Economic
• Although the smart home market is still in its infancy, favorable factors such as the need to reduce energy consumption are positively influencing the adoption of smart home.
• Inadvertently, new buildings in Asia-Pacific will increase the demand for electricity and push up the consumption of oil and gas in turn.

Competitive and Best Practices
• The building industry of Asia-Pacific is dominated by major foreign companies, with smaller local participants having a marginal share.
• The competition within the Smart Home ecosystem is both intra-industry and inter-industry.
• Two likely scenarios could occur in the smart home market, either a consolidated industry standard will emerge or a fragmented marketplace having multiple standards exists.

Customers
• Asia-Pacific’s target demographics are middle-class, younger, and tech-savvy home owners.
• Market participants should invest in developing more efficient and cost-competitive devices and systems to cater to the emerging middle-class population who are price sensitive.

Executive Summary—Key Takeaway

1. Continuous innovation is expected in lighting and heating, ventilation and conditioning (HVAC), as such equipment consume maximum energy in the homes.
2. Cost and resource optimization benefits would pressure companies to have a complete plan of the construction before embarking on the actual task.
3. Developed Asia-Pacific markets provide key opportunities, especially those with highly-wired cities such as Seoul, Tokyo, and Singapore.
4. Financial pressures may result in the decrease or abolishment of government subsidies, but tax rebates may be introduced to encourage adoption and development of green technologies.
5. Respective Governments are currently embracing sustainable economic growth and have introduced grants for both commercial and residential applicants for adopting green practices and technologies.

Definitions

Homes of the Future
Home is defined as residential buildings, such as apartments, condominiums, and landed-houses (terrace, bungalow, semi-detached).
In this document, future homes will incorporate current and future trends that have shaped the demand for residential homes. The homes of the future may be referred as smart homes in the study.

Market Size
Unless otherwise indicated in this study, market size refers to sales revenue of products or services within mentioned markets. It excludes book revenue or uncollected revenue from current and future sales or contracts.

CAGR
Compound annual growth rate (CAGR) is the year-over-year growth rate of a market or investment over a specified period of time.

Geography
Unless otherwise indicated in this study, the region is Asia-Pacific, which includes countries such as China, India, Indonesia, Japan, Malaysia, Singapore, and Thailand. Other countries not defined here may be mentioned or referred to in the content of this study.

Characteristics of Homes of the Future

Economical
Must be affordable to the masses for the benefits to be seen.

Neutral
Being energy efficient is no longer enough, carbon neutral is the new fad.

Automated
So that optimal settings could be set even when the occupants are out.

Connected
Integration of information and communications technology (ICT) into our daily lives have made this a necessity.

Aesthetic
Consumers are getting demanding, and want both functionality and style.

Table Of Contents

Smart Homes in Asia-Pacific—A CEO’s 360-Degree Perspective
Table of Contents

1. Executive Summary
2. Introduction
3. Building Construction Market Overview
4. Mega Trends
5. Industry Convergence
6. Technology
7. Economic
8. Competitive and Best Practices
9. Customer
10. Conclusion
11. The Frost and Sullivan Story

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