European Smart Homes Market is a collective term for information and communication technology (ICT) used in residences where various components communicate via a network which can be used to monitor, alarm, and carry out functions according to a chosen criteria. These systems work together to enhance the comfort, convenience, security, and entertainment of residents by upgrading the technology within a home. The concept of smart homes has been there since a long time; such homes have always been a dream of homeowners and, presently, a lot of developments and regulatory initiatives are taking place with regards to the same.

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The report covers the european smart homes market segmented on the basis of products, services, and country. The products segment comprises security & access controls, HVAC systems, energy management systems, entertainment systems among others. The services segment consists of installation & maintenance, and renovation & customization. The installation & maintenance involves setting up a system for a smart home, and maintaining it in order to make the system reliable and secure to operate. The renovation & customization includes remodeling a home with automated smart home systems according to individuals’ requirement. The country analysis covers the U.K., Germany, France, Spain, Italy and the Rest of Europe.

Major drivers for the global smart homes market are energy and cost savings, regulatory initiatives by the European Union (EU), increasing ageing population, improved comfort, and convenience. The introduction of smart meters to conserve energy and the assistance of power line communication is a growth opportunity for the smart homes market. There is a lot of opportunity for existing players as well as for new entrants to innovate in products, thereby maintaining high performance and reliability in the smart homes market.

Some of the key players in european smart homes market include Siemens AG (Germany), Schneider Electric S.A. (France), ABB Ltd. (Switzerland), Ingersoll-Rand Plc. (Ireland), Tyco International Ltd. (Switzerland), Legrand S.A. (France), Hager Holdings GmbH (Germany), Albrecht Jung GmbH & CO. KG (Germany), Control4 (US), Tyco International Ltd. (Switzerland), and Nice SPA (Italy).

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