Smart Homes Market is reach to $58.68 Billion by 2020 - New Report by MarketsandMarkets
(PRWEB) March 23, 2015 -- The smart homes market is expected to grow to $58.68 billion by 2020, at an estimated CAGR of 17% from 2015 to 2020. There has been a significant growth in the global market due to the demand for energy efficient solutions and enhanced home security.
Browse 74 market data Tables and 86 Figures spread through 207 Pages and in-depth TOC on "Smart Homes Market".
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The possibility of reduction in the prices of smart homes is driven by scale of economies and expected adoption of the technology is the key to the market’s growth in the future. Stakeholders are keen for developing versatile and widely accepted standards in smart homes. Regardless of the technology and cost of ownership, the operating & maintenance cost, complex installation, user awareness, ability to link disparate systems, Internet security, and demand for housing are some of the challenges in front of players in the smart home market. However, this market is expected to grow at a decent pace in the coming years.
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Analysis of the smart homes market with high-growth sub-segments such as security & access control, energy management system, HVAC control, entertainment control. The impact analysis of market dynamics that describe the factors currently driving and restraining growth of the market; along with future trends observed in the smart home market.
The Porter’s Five Forces framework has been applied and explained in detail along with, the value chain analysis for the smart homes market. Illustrative segmentation, analysis, and forecast of major geographic markets has been done to give an overall view of the smart homes market.
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