A house that has security, appliances, heating, computers, air conditioning, TVs, lighting, , entertainment audio & video systems and camera systems capable of communicating with one another and which can be controlled from any room in the home, as well as remotely from any corner of the world through internet or phone.
Latest report prepared by AMR observes that global smart homes and building market will reach $4.8 billion in 2014. Further, it is expected to reach $35.3 billion by 2020, growing at a CAGR of 29.5%.
Efficient energy is the demand of time due to growing demand and environmental concerns of greenhouse gas (GHG) emission, as per the analysts. It is also increasing the cost and hence, study made by AMR on the construction businesses that embrace energy efficient trend and use of building automation system for creating smart homes will give you detail information of this market.
Rising awareness with respect to environmental concerns, rising energy costs, and government regulations are the favorable factors for the growth of market. Also, high safety features offered by smart homes proves to be beneficial for its growth.
Report by AMR states that safety and security application market is projected to reach $6.1 billion from 2013-2020 at a CAGR of 34.6%. According to experts some factors that will deter the growth are lack of standards and high upfront cost are few factors.
In term of geographical locations, North America is studied to generate $12.4 billion alone from 2013-2020 at a CAGR of 25.9%. Report also observed Asia-Pacific region that will grow at a CAGR of 37.7%.
Some important market players listed in this report are Emerson, LG Electronics, Control4 Corporation Electric Co. Leviton, Honeywell International, Cisco Systems, Schneider Electric, Smarthome Inc., Siemens Buildings Technologies, and United Technologies Corporation (UTC).
To Get More Info On Smart Homes Market Visit: http://www.alliedmarketresearch.com/smart-home-automated-building-market
