San Francisco, California (PRWEB) June 27, 2014
The global smart homes market is expected to reach USD 47.61 billion by 2020, according to a new study by Grand View Research, Inc. 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.
The report “Smart Homes Market Analysis By Application (Security, Lighting, Entertainment, Energy Management, HVAC) And Segment Forecasts To 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/Smart-Homes-Industry.
Browse all reports of this category at http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies.
Further key findings from the study suggest:
Request free sample of this report at http://www.grandviewresearch.com/industry-analysis/Smart-Homes-Industry/request.
For the purpose of this study, Grand View Research has segmented the global smart homes market on the basis of application and region:
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/.
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