The rising cost of energy and greenhouse gas emission has driven the need for smart, automated and energy efficient homes and buildings. The global smart home and buildings market is anticipated to grow at a CAGR of 29.7% during the forecast period. The market is expected to offer tremendous opportunities for growth to companies that deal with energy efficient products and solutions.
The demand for energy is growing in an unprecedented speed, and the resources are depleting much faster than anticipated, creating imbalance between demand and supply. The imbalance has increased the cost of energy by at least 30% according to the Department of Energy and Climate in UK. The electricity prices has increased by 40% between 2007 and 2012 and the electricity prices are expected to rise further in the future. The operations and maintenance cost of coal based power companies is anticipated to increase by 17% and that of nuclear plants to increase by 30%.
The report highlights the adoption of Smart Homes & Buildings market, globally. Based on the Components, the Smart Homes & Buildings Market is segmented into Energy management, Lighting control, Heating, ventilation and air conditioning (HVAC) controls, Appliance and entertainment control, Safety and Security and Home healthcare segments. Based on the connectivity, the Smart Homes & buildings market Bluetooth, Zigbee, Cellular Technology Technology markets. The market is further bifurcated into Government Organizations, Residential Users and Commercial User segments on the basis of the End Users. Based on the products, the market is segmented into Safety & Security, Controllers, Home Appliance & Entertainment Controllers segments.
The Safety & Security Products/Devices Market segment is segmented as Surveillance Cameras, Door Locks, Smoke Detectors & Fire Sprinklers sub-segments. On the basis of type, Controllers segment is further bifurcated Light Sensors, Motion Sensors, CO2 Sensors, Dimmers, Timers and Energy Efficient Lights sub segments. Based on the End Users, the Home Appliance & Entertainment Controllers Market is segmented into Thermostats, Thermostats Products/Devices, Remote Controls and Smart Plugs & Energy Monitors sub segment. On the basis of geography, the market is further segmented into North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa) market.
Key Players profiled in the report includes Cisco Systems, Control4 Corporation, Leviton Manufacturing Company, Inc, United Technologies Corporation, Emerson Electric Co., Honeywell International, Inc. and Siemens AG, Robert Bosch GmbH.