Global Smart Homes, Buildings Market – Analysis and Research 2013 – 2020

The global smart homes and buildings market is expected to grow significant between 2013 and 2020. This is attributed to rising energy costs and government initiatives. Some of the key government initiatives include regulations such as Commercial Buildings Initiatives(CBI) by the U.S. government which aims at making all commercial buildings completely energy independent till 2025. This implies that commercial buildings should have facilities to generate onsite power. Energy efficiency has become the need of the hour as it is expected that energy demand would increase by 40% between 2010 and 2040. The key restraint for the growth is the high upfront investment that is required for well-integrated smart technologies. Perceived value versus the cost issue is still a concern that is impacting the adoption rates. Increasing smart homes and buildings with well-integrated and applied technologies will precisely lead to envisioned concept of “Smart Cities”.

The report segments the market on the basis of application, technology, end-users products and geography.The end-user market consists of residential users, commercial establishments and government organizations. Residential users are further segmented as individual homes and housing societies. The commercial users include corporate offices, industrial production units, healthcare sector, retail & convenient stores, and hotels & restaurants. The geographic market covers North America, Europe, Asia-Pacific and Rest of the World (RoW) regions.

Source: Research Beam

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