The global smart homes and buildings market was valued $4.8 billion in 2012 and expected to reach $35.3 billion by 2020 at a significant CAGR of 29.5% between 2013 and 2020.

Energy efficiency has become the need of the hour as the global energy cost is increasing owing to the ever-growing demand and environmental concerns of greenhouse gas (GHG) emission. The construction business is embracing the energy efficiency trend and using building automation system to meet the growing demand for energy efficiency in smart homes and buildings. The global smart homes and buildings market report covers the in-depth analysis of this market which includes the drivers, restraints and opportunities for its growth.

The revenue of safety and security application is expected to reach $6,132.4 Million by 2020 with an expected CAGR of 34.6% from 2013 to 2020. Smart homes and buildings market is expected to evidence significant growth due to growing security concerns and enhanced safety features that smart automation systems can currently offer. With an increase in the working population, safety concerns with respect to aged parents and children is the biggest challenge. Smart home address these issues with highly-sophisticated remote monitoring technologies.

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However, there are some factors such as high upfront cost and lack of standards and interoperability which are expected to act as restraints for the smart homes and buildings market growth. North America is expected to generate revenue of $12.4 billion by 2020 growing at a CAGR of 25.9% from 2013 to 2020. However, the Asia-Pacific is a high-opportunity market that is expected to grow at a CAGR of 37.7% from 2013 to 2020.
The report has profiled some of the key players of the smart homes and buildings market such as Cisco Systems, Control4 Corporation, Emerson Electric Co. Leviton, Honeywell International, LG Electronics, Schneider Electric, Siemens Buildings Technologies, Smarthome Inc., and United Technologies Corporation (UTC).The report also discusses the key strategies used by these companies to have a sustainable growth in the smart homes and buildings market share.

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