Smart Homes Market

Date: 2016-05

The smart home market is a market comprising of home automation and greener energy. This market has been witnessing tremendous growth due to their efficient energy saving and eco friendly nature, not only in developed regions of the world, but also in developing countries. Awareness about the convenience and cost effectiveness offered by these products and services is also increasing the demand for this market. Advanced technologies are proving use of greener energy appliances affordable and time saving. Portability, customization, ease of use, and automation are the key factors that smart home market players use to differentiate their products and services.

The smart home equipment and services market is slated to grow at 8% to 10% year on year for the next five years. The market is estimated to reach $68bn by 2018.

Emergence of internet of things is a very important market driver for smart homes. The technology behind smart homes has existed for decades now. The challenge this market has faced so far is due to the huge bulk of consumers didn’t have the knowledge about the technologies that can make their work easier. Only very few wealthy had accustomed to the smart home technologies such as voice/video equipment, lighting and other such components.

There is a very good chance that the smart homes come down in price and be affordable to consumers making it a much wider market by appealing middle class consumers. There is an increased competition in the market. Companies like Control4 and Elan home systems have introduced relatively inexpensive products which are slightly analogous in functionality compared to luxury items that have dominated market for some years.

This report on the Global Smart home Market identifies many such insights and M&A opportunities, besides providing a detailed analysis of the smart home services and equipment market.


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