Smart Homes Market to Cross $ 60 Billion by 2021
Growing energy concerns,
growth in adoption of smart devices and rising demand for real time security to
drive global smart homes market through 2021
According to recently released
TechSci Research report, “Global Smart Homes Market By Application, By Technology, By Region, Competition Forecast and
Opportunities, 2011 – 2021”, the global market of smart
homes is projected to cross $ 60 billion by 2021, on account of increasing energy
concerns, surging demand for real time home security and growing technological
advancements. Moreover, increasing demand for energy efficient systems and
solutions, coupled with growing adoption of smart devices are anticipated to
boost the global smart homes market during 2016 – 2021. In 2015, global consumer
electronics market generated revenues of around $ 438 billion, which are further
expected to cross $503 billion by the end of 2016. Backed by expanding consumer electronics market, the global market of smart
homes is anticipated to register healthy growth rate during forecast period.
Browse 68 market data Tables and 94 Figures spread
through 210
Pages and an in-depth TOC on "Global
Smart Homes Market"
http://www.techsciresearch.com/report/global-smart-homes-market-by-application-energy-management-systems-security-access-control-systems-etc-by-technology-wireless-communication-technology-etc-by-region-competition-forecast-and-opportunities-2011-2021/648.html
In 2015, North America dominated
the global smart homes market, and the region is expected to maintain its
dominance over the next five years as well. In
North America, the United States was the largest smart homes market
in 2015 on account of booming M2M communication market and increasing smartphone
users, which is expected to increase from 187.05 million in 2015 to 203.75
million by the end of 2016. According to the US Federal Bureau of Investigation
report, around 8,277,829 property crime offenses were registered in the United
States in 2014. With increasing rate of property crime offenses, demand for
smart homes in the country is anticipated to increase at a robust pace over the
next five years.
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“In
2015, there were more than 7 million cases of stolen motor vehicles across the
world. In addition to vehicle thefts, with increasing burglary cases, consumers
are increasingly inclining towards smart homes, which include advanced security
systems with cameras, motion sensors and a link to the local police station or
a private security company. Smart homes also use key cards or fingerprint
identification in place of conventional locks, making it harder for someone to
break in. However, high initial installation cost, IT security issues and lack
of standardization are some of the major factors restraining demand for smart
home solutions across the world.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Global Smart Homes Market By Application, By Technology, By Region,
Competition Forecast and Opportunities, 2011 – 2021” has evaluated the future growth
potential of smart homes market and provides statistics and information on
market structure, consumer behaviour and trends in the global smart homes
market. The report is intended to provide cutting-edge market intelligence and
help decision makers take sound investment evaluation. Besides, the report also
identifies and analyzes emerging trends along with essential drivers,
challenges and opportunities available in global smart homes market.
About TechSci Research
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publishing premium market research reports. Serving 700 global clients with more than 600 premium market
research studies, TechSci Research is serving clients across 11 different
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employing innovative research solutions and tracking global and country
specific high growth markets helps TechSci clients to lead rather than follow
market trends.
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