Table of Contents
A smart home refers to the use of computer and information technology to control devices and features such as lighting, entertainment systems, temperature, and so on. Integrating these systems allows them to communicate with one another through a home controller, thereby enabling control of various home systems, simultaneously, in preprogrammed scenarios or operating modes. Smart homes use the electronic networking technology to integrate various devices and appliances found in almost all homes so that an entire home can be controlled centrally or remotely – as a single machine.
The best in safety, security, and comfort that was originally intended for the technologically inclined is now reaching the general public through smart homes. Smart homes not only make daily routine convenient and time saving but also provide energy efficiency. Elderly and disabled rely heavily on home care; a smart home helps improve their living standards. Benefits of a smart home can be endless. Activities ranging from the gate access to the irrigation of a garden can be done with ease. Smart homes have already started attracting the stakeholders in the market including architects, developers, and device manufacturers. The possibility of reduction in the prices of smart homes and the expected adoption of technology is the key to the market’s growth in the future.
With the stakeholders developing new and improved standards in smart homes, this market is expected to grow at a decent pace for many years to come. The smart home technology offers prospects of significant improvements in the living standards of elderly, infirm, and disabled; who, without automated domestic activities, may otherwise be totally reliant on home care. These benefits can only be realized if the technology becomes affordable and accessible to those who need it the most. However, this is only likely if a broader consumer market develops – thus pushing down prices and increasing availability. Also, the standardization and interoperability between different protocols will drive the market in future. In this report, size and estimates of smart home market and its various products and services have been provided. A geographic split of each of the submarket is also detailed in report.
Some of the key players in this market include Siemens AG (Germany), Schneider Electric S.A. (France), ABB Ltd. (Switzerland), Ingersoll-Rand Plc. (Ireland), Tyco International Ltd. (Switzerland), Legrand S.A. (France), Hager Holdings GmbH (Germany), Albrecht Jung GmbH & CO. KG (Germany), Control4 (US), Tyco International Ltd. (Switzerland), and Nice SPA (Italy), and more.
Get Industry Insights. Simply.
Talk to Veronica
+1 718 514 2762
“The BAS market estimated to grow at a CAGR of 10.73% between 2017 and 2022” The building automation system (BAS) market was valued at USD 53.66 billion in 2016 and is expected to reach USD 99.11 ...
Rise in Electricity Prices, Boom in Building Construction, and Energy Services to Result in Near Doubling of Overall Revenues for the Building Energy Management System Market The Southeast Asian Building ...
According to Stratistics MRC, the Global Energy Management Market is estimated at $27.6 billion in 2015 and is expected to reach $98.8 billion by 2022 growing at a CAGR of 19.9% from 2015 to 2022. Some ...