The report anticipates the global market to reach a mark of $35.3 billion by 2020
(PRWEB UK) 3 November 2014
Big Market Research published a report titled “Global Smart Homes, Buildings (Energy Efficient, Automated) Market (Applications, Technologies, Products and End-User), Size, Share, Trends, Analysis, Research, Future Demand, Scope and Forecast, 2013 – 2020.” The report anticipates the global market to reach a mark of $35.3 billion by 2020, growing at a CAGR of 29.5% from 2012 to 2020. Such an impressive growth of the smart homes and building market can be attributed to the government regulations, skyrocketing energy costs and rising awareness.
Increasing greenhouse effect and ever increasing cost of the energy have propelled the need of efficient energy. Hence, many construction businesses across the globe are embracing smart home features to cope up with the demand of energy efficiency.
To get full access of report visit at http://www.bigmarketresearch.com/smart-home-automated-building-market
The application segment of the global smart homes and building market would attain a value of $6,132.4 million by the year 2020 registering a healthy CAGR of 34.6% during 2012-2020. The report offers holistic view and data on the overall market to understand the market dynamics and changing market trends.
"This market is expected to evidence significant growth due to growing security concerns and enhanced safety features that smart automation systems can currently offer. With an increase in the working population, safety concerns with respect to aged parents and children is the biggest challenge. Smart home address these issues with highly-sophisticated remote monitoring technologies." states Shreyas Naidu.
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However, interoperability, lack of standardization, and high upfront cost would hamper the market growth. North America would generate a revenue of $12.4 billion by 2020 with a CAGR of 25.9% during the estimated time. With a CAGR of 37.7%, Asia Pacific is expected to grow exponentially during the forecast period.
Key players listed in the market are:
- Cisco Systems
- Control4 Corporation
- Emerson Electric Co. Leviton
- Honeywell International
- LG Electronics
- Schneider Electric
- Siemens Buildings Technologies
- Smarthome Inc.,
- United Technologies Corporation (UTC)
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