Global smart homes market revenue expected to rise to up to US$35.3B by 2020 from US$4.8B in 2012, driven by rising energy costs, government initiatives, rising awareness; high upfront investment costs are largest growth constraint, finds report
March 7, 2014
– Research and Markets (http://www.researchandmarkets.com/research/4hpjhm/global_smart) has announced the addition of the "Global Smart Homes, Buildings (Energy Efficient, Automated) Market Report 2013 - 2020" report to their offering.
The market revenue of $4.8 billion in 2012 is expected to grow up to $35.3 billion by 2020
This is attributed to rising energy costs and government initiatives. Some of the key government initiatives include regulations such as Commercial Buildings Initiatives (CBI) by the U.S. government aims at making all commercial buildings completely energy independent by 2025. This implies that commercial buildings should have facilities to generate onsite power. Energy efficiency has become the need of the hour as it is expected that energy demand would increase by 40% between 2010 and 2040. The key restraint for the growth is the high upfront investment that is required for well-integrated smart technologies. Perceived value versus the cost issue is still a concern that is impacting the adoption rates. Increasing smart homes and buildings with well-integrated and applied technologies will precisely lead to envisioned concept of Smart Cities.
The main drivers for the growth of the market are government regulations, rising energy costs and raising awareness with respect to environmental concerns. Energy efficiency has become the need of the hour as the global energy cost is increasing owing to the ever growing demand and environmental concerns of greenhouse gas (GHG) emission. The construction business is embracing the energy efficiency trend and using building automation system to meet the growing demand for energy efficiency in smart homes and buildings. The global smart, automated and energy efficient homes and buildings market report published by Allied Market Research discusses the in-depth analysis of this market which includes the drivers, restraints and opportunities for its growth.
Key Topics Covered:
Chapter 1. Introduction
Chapter 2. Executive Summary
Chapter 3. Market Overview
Chapter 4. Application
Chapter 5. Technology
Chapter 6. End-User
Chapter 7. Product
Chapter 8. Geography
Chapter 9. Company Profiles
- Cisco Systems Inc.
- Control4 Corporation
- Leviton MFG. Company Inc.
- Schneider Electric SA
- Siemens Building Technologies
- United Technologies Corporation
- Honeywell Scanning & Mobility
- Smarthome Inc.
- Emerson Electric Co.
- LG Electronics Inc
For more information visit http://www.researchandmarkets.com/research/4hpjhm/global_smart
Research and Markets
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Sector: Construction and Engineering, Environmental
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