Smart Homes Market Analysis By Application (Security, Lighting, Entertainment, Energy Management, HVAC) And Segment Forecasts To 2020
The global smart homes market is expected to reach USD 47.61 billion by 2020. Emphasis on reduced carbon emission and energy conservation are expected to be the key driving forces for the market over the forecast period. Favorable regulatory initiatives for implementing smart homes owing to their energy efficiency characteristics are further expected to positively impact the global market over the next six years.
Increased aging population, which comprises a majority of end-users of this technology, is also expected to boost market growth. Introduction of smart grids, increased personal income in developing economies, assistance of power line communication, and growth of consumer electronics industry are factors expected to favorably impact market growth. Need for standardization, skilled labor and high initial cost due to the incorporation of advanced technologies such as IP and Bluetooth may pose a challenge to industry growth.
Further key findings from the study suggest:
Security applications dominated the global market and accounted for over 20% of the overall market share in 2013. This is primarily owing to techniques such as security cameras, window sensor alarms and burglar alarms which notify users of a possible security breach. Energy management segment is expected to witness the fastest growth on account of growing awareness regarding energy efficiency coupled with the support of regulatory bodies for development of a smart grid and installation of smart electricity, water, and gas meters.
North America is expected to remain the market leader over the forecast period, and accounted for 41.3% of the global market revenue in 2013. The market in Europe is expected to grow at a CAGR of 21.3% from 2014 to 2020, owing to growing adoption of smart home systems.
Key industry participants include ABB Ltd., Siemens AG, Crestron Electronics, Inc., Honeywell, Emerson Electric Co., Schneider Electric S.A., Legrand S.A., Lutron Electronics, Inc., Ingersoll-Rand PLC, Tyco International Ltd., AMX and Control4 Corporation.
For the purpose of this study, Grand View Research has segmented the global smart homes market on the basis of application and region:
Increased aging population, which comprises a majority of end-users of this technology, is also expected to boost market growth. Introduction of smart grids, increased personal income in developing economies, assistance of power line communication, and growth of consumer electronics industry are factors expected to favorably impact market growth. Need for standardization, skilled labor and high initial cost due to the incorporation of advanced technologies such as IP and Bluetooth may pose a challenge to industry growth.
Further key findings from the study suggest:
Security applications dominated the global market and accounted for over 20% of the overall market share in 2013. This is primarily owing to techniques such as security cameras, window sensor alarms and burglar alarms which notify users of a possible security breach. Energy management segment is expected to witness the fastest growth on account of growing awareness regarding energy efficiency coupled with the support of regulatory bodies for development of a smart grid and installation of smart electricity, water, and gas meters.
North America is expected to remain the market leader over the forecast period, and accounted for 41.3% of the global market revenue in 2013. The market in Europe is expected to grow at a CAGR of 21.3% from 2014 to 2020, owing to growing adoption of smart home systems.
Key industry participants include ABB Ltd., Siemens AG, Crestron Electronics, Inc., Honeywell, Emerson Electric Co., Schneider Electric S.A., Legrand S.A., Lutron Electronics, Inc., Ingersoll-Rand PLC, Tyco International Ltd., AMX and Control4 Corporation.
For the purpose of this study, Grand View Research has segmented the global smart homes market on the basis of application and region:
- Smart Homes Application Outlook (Revenue, 2012 – 2020)
- Security
- Lighting
- Entertainment
- Energy Management
- HVAC
- Others
- Smart Homes Regional Outlook (Revenue, 2012 – 2020)
- North America
- Europe
- Asia Pacific
- RoW
CHAPTER 1 EXECUTIVE SUMMARY
1.1 Smart Homes- Industry Summary & Critical Success Factors (CSFs)
CHAPTER 2 SMART HOMESINDUSTRY OUTLOOK
2.1 Market Segmentation
2.2 Market Size and Growth Prospects
2.3 Smart Homes Value Chain Analysis
2.4 Smart Homes Market Dynamics
2.4.1 Key Driver Analysis
2.4.1.1 Reduced carbon emission and energy bills
2.4.1.2 Changing demographics
2.4.1.3 Growing demand for mobility
2.4.1.4 Increasing consumer awareness
2.4.2 Key Restraint Analysis
2.4.2.1 Need for standardization and skilled personnel
2.4.2.2 Ethical concerns
2.4.2.3 High initial cost
2.5 Key Opportunities Prioritized
2.6 Industry Analysis - Porter's
2.7 Smart homes - Company Market Share Analysis, 2013
2.8 Smart homes - PESTEL Analysis
CHAPTER 3 SMART HOMES APPLICATION OUTLOOK
3.1 Security
3.1.1 Global smart homes demand in security, by region, (Revenue), 2012 - 2020
3.2 Lighting
3.2.1 Global smart homes demand in lighting, by region, (Revenue), 2012 – 2020
3.3 Entertainment
3.3.1 Global smart homes demand in entertainment, by region, (Revenue), 2012 - 2020
3.4 Energy Management
3.4.1 Global smart homes demand in energy management, by region, (Revenue), 2012 – 2020
3.5 HVAC
3.5.1 Global smart homes demand in HVAC, by region, (Revenue), 2012 - 2020
3.6 Others
3.6.1 Global smart homes demand in other applications, by region, (Revenue), 2012 - 2020
CHAPTER 4 SMART HOMES REGIONAL OUTLOOK
4.1 North America
4.1.1 North America smart homes market by application, (Revenue), 2012 - 2020
4.2 Europe
4.2.1 Europe smart homes market by application, (Revenue), 2012 – 2020
4.3 Asia Pacific
4.3.1 Asia Pacific smart homes market by application, (Revenue), 2012 – 2020
4.4 RoW
4.4.1 RoW smart homes market by application, (Revenue), 2012 – 2020
CHAPTER 5 COMPETITIVE LANDSCAPE
5.1 ABB Ltd.
5.1.1 Company Overview
5.1.2 Financial Performance
5.1.3 Product Benchmarking
5.1.4 Strategic Initiatives
5.2 AMX
5.2.1 Company Overview
5.2.2 Financial Performance
5.2.3 Product Benchmarking
5.2.4 Strategic Initiatives
5.3 Control4 Corporation
5.3.1 Company Overview
5.3.2 Financial Performance
5.3.3 Product Benchmarking
5.3.4 Strategic Initiatives
5.4 Crestron Electronics, Inc.
5.4.1 Company Overview
5.4.2 Financial Performance
5.4.3 Product Benchmarking
5.4.4 Strategic Initiatives
5.5 Emerson Electric Co.
5.5.1 Company Overview
5.5.2 Financial Performance
5.5.3 Product Benchmarking
5.5.4 Strategic Initiatives
5.6 Honeywell
5.6.1 Company Overview
5.6.2 Financial Performance
5.6.3 Product Benchmarking
5.6.4 Strategic Initiatives
5.7 Ingersoll-Rand PLC
5.7.1 Company Overview
5.7.2 Financial Performance
5.7.3 Product Benchmarking
5.7.4 Strategic Initiatives
5.8 Legrand S.A.
5.8.1 Company Overview
5.8.2 Financial Performance
5.8.3 Product Benchmarking
5.8.4 Strategic Initiatives
5.9 Lutron Electronics, Inc.
5.9.1 Company Overview
5.9.2 Financial Performance
5.9.3 Product Benchmarking
5.9.4 Strategic Initiatives
5.10 Schneider Electric S.A
5.10.1 Company Overview
5.10.2 Financial Performance
5.10.3 Product Benchmarking
5.10.4 Strategic Initiatives
5.11 Siemens AG
5.11.1 Company Overview
5.11.2 Financial Performance
5.11.3 Product Benchmarking
5.11.4 Strategic Initiatives
5.12 Tyco International Ltd.
5.12.1 Company Overview
5.12.2 Financial Performance
5.12.3 Product Benchmarking
5.12.4 Strategic Initiatives
CHAPTER 6 METHODOLOGY AND SCOPE
6.1 Research Methodology
6.2 Research Scope & Assumption
6.3 List of Data Sources
1.1 Smart Homes- Industry Summary & Critical Success Factors (CSFs)
CHAPTER 2 SMART HOMESINDUSTRY OUTLOOK
2.1 Market Segmentation
2.2 Market Size and Growth Prospects
2.3 Smart Homes Value Chain Analysis
2.4 Smart Homes Market Dynamics
2.4.1 Key Driver Analysis
2.4.1.1 Reduced carbon emission and energy bills
2.4.1.2 Changing demographics
2.4.1.3 Growing demand for mobility
2.4.1.4 Increasing consumer awareness
2.4.2 Key Restraint Analysis
2.4.2.1 Need for standardization and skilled personnel
2.4.2.2 Ethical concerns
2.4.2.3 High initial cost
2.5 Key Opportunities Prioritized
2.6 Industry Analysis - Porter's
2.7 Smart homes - Company Market Share Analysis, 2013
2.8 Smart homes - PESTEL Analysis
CHAPTER 3 SMART HOMES APPLICATION OUTLOOK
3.1 Security
3.1.1 Global smart homes demand in security, by region, (Revenue), 2012 - 2020
3.2 Lighting
3.2.1 Global smart homes demand in lighting, by region, (Revenue), 2012 – 2020
3.3 Entertainment
3.3.1 Global smart homes demand in entertainment, by region, (Revenue), 2012 - 2020
3.4 Energy Management
3.4.1 Global smart homes demand in energy management, by region, (Revenue), 2012 – 2020
3.5 HVAC
3.5.1 Global smart homes demand in HVAC, by region, (Revenue), 2012 - 2020
3.6 Others
3.6.1 Global smart homes demand in other applications, by region, (Revenue), 2012 - 2020
CHAPTER 4 SMART HOMES REGIONAL OUTLOOK
4.1 North America
4.1.1 North America smart homes market by application, (Revenue), 2012 - 2020
4.2 Europe
4.2.1 Europe smart homes market by application, (Revenue), 2012 – 2020
4.3 Asia Pacific
4.3.1 Asia Pacific smart homes market by application, (Revenue), 2012 – 2020
4.4 RoW
4.4.1 RoW smart homes market by application, (Revenue), 2012 – 2020
CHAPTER 5 COMPETITIVE LANDSCAPE
5.1 ABB Ltd.
5.1.1 Company Overview
5.1.2 Financial Performance
5.1.3 Product Benchmarking
5.1.4 Strategic Initiatives
5.2 AMX
5.2.1 Company Overview
5.2.2 Financial Performance
5.2.3 Product Benchmarking
5.2.4 Strategic Initiatives
5.3 Control4 Corporation
5.3.1 Company Overview
5.3.2 Financial Performance
5.3.3 Product Benchmarking
5.3.4 Strategic Initiatives
5.4 Crestron Electronics, Inc.
5.4.1 Company Overview
5.4.2 Financial Performance
5.4.3 Product Benchmarking
5.4.4 Strategic Initiatives
5.5 Emerson Electric Co.
5.5.1 Company Overview
5.5.2 Financial Performance
5.5.3 Product Benchmarking
5.5.4 Strategic Initiatives
5.6 Honeywell
5.6.1 Company Overview
5.6.2 Financial Performance
5.6.3 Product Benchmarking
5.6.4 Strategic Initiatives
5.7 Ingersoll-Rand PLC
5.7.1 Company Overview
5.7.2 Financial Performance
5.7.3 Product Benchmarking
5.7.4 Strategic Initiatives
5.8 Legrand S.A.
5.8.1 Company Overview
5.8.2 Financial Performance
5.8.3 Product Benchmarking
5.8.4 Strategic Initiatives
5.9 Lutron Electronics, Inc.
5.9.1 Company Overview
5.9.2 Financial Performance
5.9.3 Product Benchmarking
5.9.4 Strategic Initiatives
5.10 Schneider Electric S.A
5.10.1 Company Overview
5.10.2 Financial Performance
5.10.3 Product Benchmarking
5.10.4 Strategic Initiatives
5.11 Siemens AG
5.11.1 Company Overview
5.11.2 Financial Performance
5.11.3 Product Benchmarking
5.11.4 Strategic Initiatives
5.12 Tyco International Ltd.
5.12.1 Company Overview
5.12.2 Financial Performance
5.12.3 Product Benchmarking
5.12.4 Strategic Initiatives
CHAPTER 6 METHODOLOGY AND SCOPE
6.1 Research Methodology
6.2 Research Scope & Assumption
6.3 List of Data Sources
LIST OF TABLES
Smart Homes– Industry Summary & Critical Success Factors (CSFs)
Global smart homes market (Revenue), 2012 - 2020
Global smart homes market by region (Revenue), 2012 – 2020
Global smart homes market by application (Revenue), 2012 – 2020
Global smart homes demand in security (Revenue), 2012 – 2020
Global smart homes demand in security, by region, (Revenue), 2012 – 2020
Global smart homes demand in lighting (Revenue), 2012 – 2020
Global smart homes demand in lighting, by region, (Revenue), 2012 – 2020
Global smart homes demand in entertainment (Revenue), 2012 – 2020
Global smart homes demand in entertainment, by region, (Revenue), 2012 – 2020
Global smart homes demand in energy management (Revenue), 2012 – 2020
Global smart homes demand in energy management, by region, (Revenue), 2012 – 2020
Global smart homes demand in HVAC (Revenue), 2012 – 2020
Global smart homes demand in HVAC, by region, (Revenue), 2012 – 2020
Global smart homes demand in other applications (Revenue), 2012 – 2020
Global smart homes demand in other applications, by region, (Revenue), 2012 – 2020
North America smart homes market by application (Revenue), 2012 – 2020
Europe smart homes market by application (Revenue), 2012 – 2020
Asia Pacific smart homes market by application (Revenue), 2012 – 2020
RoW smart homes market by application (Revenue), 2012 – 2020
Smart Homes– Industry Summary & Critical Success Factors (CSFs)
Global smart homes market (Revenue), 2012 - 2020
Global smart homes market by region (Revenue), 2012 – 2020
Global smart homes market by application (Revenue), 2012 – 2020
Global smart homes demand in security (Revenue), 2012 – 2020
Global smart homes demand in security, by region, (Revenue), 2012 – 2020
Global smart homes demand in lighting (Revenue), 2012 – 2020
Global smart homes demand in lighting, by region, (Revenue), 2012 – 2020
Global smart homes demand in entertainment (Revenue), 2012 – 2020
Global smart homes demand in entertainment, by region, (Revenue), 2012 – 2020
Global smart homes demand in energy management (Revenue), 2012 – 2020
Global smart homes demand in energy management, by region, (Revenue), 2012 – 2020
Global smart homes demand in HVAC (Revenue), 2012 – 2020
Global smart homes demand in HVAC, by region, (Revenue), 2012 – 2020
Global smart homes demand in other applications (Revenue), 2012 – 2020
Global smart homes demand in other applications, by region, (Revenue), 2012 – 2020
North America smart homes market by application (Revenue), 2012 – 2020
Europe smart homes market by application (Revenue), 2012 – 2020
Asia Pacific smart homes market by application (Revenue), 2012 – 2020
RoW smart homes market by application (Revenue), 2012 – 2020
LIST OF FIGURES
Smart Homes Market Segmentation
Global smart homes market (Revenue), 2012 - 2020
Smart homes value chain analysis
Smart homes market dynamics
Smart homes - Company market share analysis, 2013
Key Opportunities Prioritized
Industry Analysis - Porter's
Smart homes PESTEL Analysis, 2013
Smart homes market share by application, 2013 & 2020
Global smart homes demand in security (Revenue), 2012 – 2020
Global smart homes demand in lighting (Revenue), 2012 – 2020
Global smart homes demand in entertainment (Revenue), 2012 – 2020
Global smart homes demand in energy management (Revenue), 2012 – 2020
Global smart homes demand in HVAC (Revenue), 2012 – 2020
Global smart homes demand in other applications (Revenue), 2012 – 2020
Smart homes market share by region, 2013 & 2020
North America smart homes market, by application (Revenue), 2012 – 2020
Europe smart homes market, by application (Revenue), 2012 – 2020
Asia Pacific smart homes market, by application (Revenue), 2012 – 2020
RoW smart homes market, by application (Revenue), 2012 – 2020
Smart Homes Market Segmentation
Global smart homes market (Revenue), 2012 - 2020
Smart homes value chain analysis
Smart homes market dynamics
Smart homes - Company market share analysis, 2013
Key Opportunities Prioritized
Industry Analysis - Porter's
Smart homes PESTEL Analysis, 2013
Smart homes market share by application, 2013 & 2020
Global smart homes demand in security (Revenue), 2012 – 2020
Global smart homes demand in lighting (Revenue), 2012 – 2020
Global smart homes demand in entertainment (Revenue), 2012 – 2020
Global smart homes demand in energy management (Revenue), 2012 – 2020
Global smart homes demand in HVAC (Revenue), 2012 – 2020
Global smart homes demand in other applications (Revenue), 2012 – 2020
Smart homes market share by region, 2013 & 2020
North America smart homes market, by application (Revenue), 2012 – 2020
Europe smart homes market, by application (Revenue), 2012 – 2020
Asia Pacific smart homes market, by application (Revenue), 2012 – 2020
RoW smart homes market, by application (Revenue), 2012 – 2020
