Smart homes & buildings comprises major building systems on a common network, and shares information as well as functionality between systems to increase energy efficiency and operational effectiveness. These buildings integrated with smart technology refers to build environments like corporate offices, residential homes, hospitals, schools, museums, university campuses, malls, and outdoor areas which are aided for the co-operation of smart objects & systems. Widely used various smart technologies include bluetooth, Zigbee, RFID, GSM/GPRS, and Wi-Fi. With increasing energy cost and high requirement of integrated security & safety solutions, the global smart homes & buildings market is likely to register high growth over the forecasted period.
Global Smart Homes & Buildings Market is estimated to reach $146.1 billion by 2025; growing at a CAGR of 32.1% from 2017 to 2025.
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Growing energy cost, increasing government rules & initiatives, and increasing requirement for integrated security & safety solutions are the factors driving the growth of the smart homes & buildings market. However, high initial investment needed for well-integrated smart technologies may hinder the growth of the market. Moreover, growing trend of smart cities might provide with several growth opportunities in the forecasted years.
The global smart homes & buildings market is segmented on the basis of product, technology, application, end user, and geography. The market is segmented by product as safety & security products/devices (surveillance cameras, door locks, smoke detectors & fire sprinklers), controllers (light sensors, motion sensors, CO2 sensors, dimmers, timers, and energy efficient lights), and home appliance & entertainment controllers (thermostats, remote controls, & smart plugs and energy monitors). Technology comprises Bluetooth, Zigbee, RFID, GSM/GPRS, and Wi-Fi. Further, the market is segmented by application as energy management, lighting control, HVAC control, appliances & entertainment control, safety & security, and home healthcare & child safety. By end user, the market is classified into residential users (individual homes, residential buildings & housing societies), commercial users (corporate offices, industrial production units, healthcare facilities, retail outlets and convenient stores, & hotels & restaurants), and government organizations.
Regional Assessment: Based on geography, global smart homes & buildings market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated into U.S., Canada, and Mexico whereas Europe segment consist of UK, Russia, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into China, Japan, India, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Key Players: The key market players include Siemens AG, Cisco Systems, Inc., Schneider Electric, Smarthome, Inc., Emerson Electric Co., Honeywell International Inc., Delta Controls, Control4 Corporation, Ingersoll-Rand plc, and Hitachi, Ltd., among others.
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The key takeaways from the report
The report will provide detailed analysis of Global Smart Homes & Buildings Market with respect to major segments such as product, technology, application, and end user
The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Smart Homes & Buildings Market has been included in the report
Profile of the key players in the Global Smart …….