Residence that use home controller to integrate with various automation systems is known as a smart home. A smart home is equipped with devices such as lighting, heating, air conditions that can be controlled through smartphone or a system. Smart homes serve purpose of different applications namely home monitoring, access control, lighting control, fire detection, temperature monitoring, automated meter reading and others. These make the work easier and convenient.

The growth of the smart home market is attributed to factors such as significant advancements in the IoT market; increasing need of the consumer for convenience, safety and security; rising need for energy saving and low carbon emission-oriented solutions; and large number of manufacturers expanding their product portfolios.

Any residence that is equipped with devices and software that allow its occupants to control various aspects of their home remotely is classified as a smart home. The technology not only responds to user commands, but it can also be built to anticipate common commands to regulate the home’s functionalities. Smart homes also focus on the appeal of homeowners acquiring a fully-controlled environment that incorporates technology which can adapt to particular tastes. There are many initiatives found in this market today, with a sufficiently low rate of regulation.

Other factors that promote growth in the global smart homes market are an ageing population, government initiatives, and the inclusion of top electronics brands like Apple and Samsung into the picture. Most smart homes market players aim to increase controllability and security, along with providing time-saving and energy-saving alternatives. North America is the current leader in the smart homes market, followed closely by Europe and the Asia-Pacific region. The smart homes market is set to achieve double digits of growth percentages in developing countries over the next few years.

The top application insights in a smart homes market include lighting, entertainment, security, power management, and HVAC control. Government initiatives – especially in North America – include remotely controlling gas, water, and power meters to fall into the smart grid with ease. Security features include the use of sensors and alarms that intimate the homeowner of any activity within the control premises. Entertainment and utility features include remotely recording television programs and activating the washing machine or dishwasher.

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MARKET TRENDS:
According to IndustryARC research, the smart home equipment and services market is slated to grow at 8% to 10% year on year for the next five years. The market is estimated to reach $68bn by 2018.

Market Driving Factors:
The Major driving factors of the Smart Homes Market, as examined by Industry Arc’s research analysts are:
• Growing safety concerns and improvements in remote technology
• It also creates supplementary growth for all related markets such as smartphones, tablet PCs, and LED-makers.
• It explores the major opportunities for growth, as well as restraints on the smart homes market.
• It promotes growth in the global smart homes market are an ageing population, government initiatives, and the inclusion of top electronics brands.

Geographical Study of the Market:
The market is analyzed based on different geographic regions which includes Americas, Europe, APAC and RoW. The growth rates in the Global market are expected to rise to good scales during the forecast period 2015-2020.

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Notable Applications Brief:
The smart homes market offers a wide range of applications such as residential energy management, entertainment and, lighting control.

REPORT SCOPE:
Market Segmentation:
The Smart Homes Market is broadly segmented into 3 types based on the later given factors. The broad segmentation is further led to a narrower stream of divisions made by experts of IndustryARC and mentioned in this research report.
1. By Type: Security systems, HVAC, Lighting Control Systems, Entertainment.
2. By Standard: DALI, KNX, Wi-Fi, ZigBee, and Enocean.
3. By Geography: Americas, Europe, APAC, and ROW.

Key Market Players:
Few of the top prominent competitors out of the complete list of 40+ companies of the Smart Homes Market which are studied in depth and mentioned in this research report are:
• ABB
• Acuity Brands
• Legrand S.A
• Johnson controls
• Schneider Electric

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