DALLAS, Texas, May 2, 2011 /PRNewswire/ -- The 'Global Smart Homes Market (2010 - 2015)' analyzes the smart homes market by applications and technologies and studies the major market drivers, restraints, and opportunities for the smart homes market in North America, Europe, APAC, and ROW.
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The increasing need for energy conservation is driving the global smart homes market the most. The global smart homes market is expected to grow from $5,325 million in 2010 to $11,000 million in 2015, at an estimated CAGR of 15.6% from 2010 to 2015.
Smart homes are an emerging industry within the housing market with builders increasingly opting for them to remain competitive in the market. Smart homes offer great potential for significant improvements in the living standards of individuals; benefits include enhanced safety and security features, centralized control of home, remote access, and convenience. They also act as an alternative for the elderly who want to live independently and with greater safety.
The security application accounted for almost 26.5% of the total smart homes market in 2008 and is expected to grow at a CAGR of 13.4% from 2010 to 2015. The market for energy management is expected to grow at the fastest rate with a CAGR of 23.7% from 2010 to 2015.
Scope of the report
This research report categorizes the global smart homes market on the basis of applications and geography; forecasting revenues and analyzing trends in each of the following submarkets:
On the basis of applications:
Security, Lighting controllers, HVAC, energy management, entertainment, home health, and others
On the basis of geography:
Americas, EMEA (Europe, Middle East and Africa), Asia-Pacific
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