Smart Homes and Buildings market
The global smart home and buildings market is expected to grow at a CAGR of 29.5% between 2012 and 2020. The market revenue of $4.8 billion in 2012 is expected to grow to $35.3 billion by 2020. The main drivers for the growth of the market are government regulations, rising energy costs and raising awareness of environmental concerns.
Construction is embracing the energy efficiency trend and using building automation systems to meet a growing demand for smart homes and buildings.
The revenue of safety and security applications is expected to reach $6,132.4 million by 2020 with an expected CAGR of 34.6% from 2013 to 2020.
"This 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 concernswith respect to aged parents and children is the biggest challenge. Smart home address these issues with highly-sophisticated remote monitoring technologies." states Shreyas Naidu.
However, factors such as high upfront cost and lack of standards and interoperability are expected to act as restraints on market growth.
North America is expected to generate a 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.
Ref http://www.alliedmarketresearch.com/smart-home-automated-building-market
[edit] Related articles on Designing Buildings Wiki
- BRE congratulates Home of 2030 winners.
- Closed plan.
- European connected and smart home market.
- Megatrends: Smart Building Technology.
- Smart airports.
- Smart buildings.
- Smart city.
- Smart cities design timeframe.
- Smart coating.
- Smart construction.
- Smart glass.
- Smart greenhouse.
- Smart homes in Germany.
- Smart kitchen appliances.
- Smart meter.
- Smart technology.
- The future of smart buildings.
- The smart buildings market.
- The Smart building in the smart city.
Featured articles and news
How can digital twins boost profitability within construction?
A brief description of a smart construction dashboard, collecting as-built data, as a s site changes forming an accurate digital twin.
Unlocking surplus public defence land and more to speed up the delivery of housing.
The Planning and Infrastructure bill oulined
With reactions from IHBC and others on its potential impacts.
Farnborough College Unveils its Half-house for Sustainable Construction Training.
Spring Statement 2025 with reactions from industry
Confirming previously announced funding, and welfare changes amid adjusted growth forecast.
Scottish Government responds to Grenfell report
As fund for unsafe cladding assessments is launched.
CLC and BSR process map for HRB approvals
One of the initial outputs of their weekly BSR meetings.
Architects Academy at an insulation manufacturing facility
Programme of technical engagement for aspiring designers.
Building Safety Levy technical consultation response
Details of the planned levy now due in 2026.
Great British Energy install solar on school and NHS sites
200 schools and 200 NHS sites to get solar systems, as first project of the newly formed government initiative.
600 million for 60,000 more skilled construction workers
Announced by Treasury ahead of the Spring Statement.
The restoration of the novelist’s birthplace in Eastwood.
Life Critical Fire Safety External Wall System LCFS EWS
Breaking down what is meant by this now often used term.
PAC report on the Remediation of Dangerous Cladding
Recommendations on workforce, transparency, support, insurance, funding, fraud and mismanagement.
New towns, expanded settlements and housing delivery
Modular inquiry asks if new towns and expanded settlements are an effective means of delivering housing.
Building Engineering Business Survey Q1 2025
Survey shows growth remains flat as skill shortages and volatile pricing persist.