Americas Smart Homes Market Projected to reach $22.4 Billion by 2020 – Report by MarketsandMarkets
(PRWEB) April 26, 2014 -- According to a new market research report "Americas Smart Homes Market by Product, Service and Geography - Analysis & Forecast (2013 - 2020)", the total market for the Americas smart homes market will be worth $22.4 billion by 2020, at an estimated CAGR of 17.62%.
Browse 101 market data tables with 72 figures spread through 370 pages and in-depth TOC on "Americas Smart Homes Market - Analysis & Forecast (2013 - 2020)"
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Smart homes symbolize buildings furnished with intelligent systems and communication standards and protocols that present the occupant with a higher level of comfort and control, which was not possible in the traditional homes.
The Americas Smart Homes Market covers the entire industry on the basis of products, services, and geography. The products section covers security & access control, entertainment systems, lighting control, HVAC control, and home health systems; along with their current and future estimations. Security services occupy the largest market share in the Americas market whereas it is lighting control that is projected to grow at the fastest CAGR in the forecast period. The services section covers installation & maintenance, and renovation & customization. The geographical analysis covers the U.S., Canada, Mexico, Brazil, and Argentina.
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The report revolves around the machine safety technologies and product types. The trend is changing from traditional mechanical safety interlocks devices to safety programmable logic controllers, relays, modules, and integrated machine safety modules. This trend suggests that the global machine safety market is adapting to modern and advanced technologies for optimum level of safety in various assembly, material handling, metal working, packaging, robotics, welding and other applications. Metal working, Packaging and robotics applications are major contributors to the global machine safety market with contribution of 63% in 2012 worth $1,582.9 million.
The major drivers for the global smart homes market are energy efficient smart lighting devices, advancements in digital analytics platforms, and the rising incidences of chronic diseases. The major barriers affecting smart home systems include the lack of consumer awareness, and inability of the security systems installed in the smart homes to prevent crimes.
The U.S. will remain the leading market for the Americas smart homes throughout the forecasted period due to its high adoption rate of smart homes; as its economy recovers in a phased manner along with continuous technological developments.
Browse Related Reports
Smart Homes Market - by Products (Security, Access, Lighting, Entertainment, Energy Management Systems, HVAC, and Ballast & Battery Pack), Services (Installation & Repair, Renovation & Customization) and Geography - Analysis & Global Forecast (2013 - 2020)
http://www.marketsandmarkets.com/Market-Reports/smart-homes-and-assisted-living-advanced-technologie-and-global-market-121.html
Home Automation & Controls Market by Product (Lighting Control, Security Control, Access Control, HVAC Control, Entertainment Control, Outdoor Control, Communication Protocols, Standards & Data Distribution) & Geography (2013 - 2018)
http://www.marketsandmarkets.com/Market-Reports/home-automation-control-systems-market-469.html
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