Global Smart Homes Market worth US $13.4 Billion by 201423 Feb 2011 • by Natalie Aster
Wilmington – The Global Smart Homes Market report by MarketsandMarkets analyzes the smart home products and services market over the period 2009-2014. The report studies the major market drivers, restraints, and opportunities for the Global Smart Homes market.
The Global Smart Homes market is estimated to be $13.4 billion by 2014, growing at a CAGR of 16.5% from 2009 to 2014, driven by the increasing ageing population worldwide. The markets for smart home products and services are expected to grow at a CAGR of 16.3% and 17% respectively. Rise in the ageing population is the major driving force for the growth of the market. Government initiatives and rising smart home adoption rates due to increasing personal income in Asia are also boosting the market.
Further, growing interest from consumer electronics industry and novel technologies are also expected fuel market growth in the coming years. However, there is a need for common standards for the usage of smart home technologies such as Zigbee, Z-Wave, KNX, Insteon etc. Moreover, ethical guidelines on the use of technologies that raise privacy issues are also required. Market players are now focusing on new product and consolidations to enhance their commercial portfolios. Collaborations, new product launches and improvements in the exiting line of products are the major growth strategies employed by the companies in order to main a competitive position in the market.
Published: May 2010
Price: USD 4,650
Scope and Format
The report analyzes the Global Smart Homes market into the following segments:
- Smart Home Products Market (Security, Lighting, HVAC, Entertainment, Home Health, Energy Management);
- Smart Home Services Market (Installation & Repair, Customization).
The market data consists of aggregate sales figures of all Global Smart Homes submarkets. It analyzes the market aspects of products and services; sourcing key market developments from the top companies that it profiles.
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