This market is immensely helped by the use of smart devices like smartphones, tablets, etc. These devices use modern technology and can be used on the move which helps their consumers to monitor their houses on the move. Technologies like bluetooth, GSM, ZigBee, wi-fi or RFID can be used to send the signals to control the devices. These systems are easier to install in newer houses compared to retro styling it in older houses. Interestingly, architects these days, are taking into consideration, this modern day house concept.
The modern technologies have evolved so much that it has enabled a lot of devices to be controlled by just one device. In smart homes, various devices like CCTV cameras, lighting, AC, TV, washing machine, etc. can be controlled by either a remote or any other smart device. These devices can be turned on or off from a remote location, provided the device controlling gets a signal. This can help with energy conservation, when people often forget to switch off lights or some appliances, while leaving the house. The CCTV footage can be watched anywhere and it gives the owners of the house, a sense of security, while leaving the house. The alarm systems installed in the house, helps to safeguard it against any case of burglary or theft taking place on the premises.
The restraints for this market mainly involve the initial exorbitant cost of installation of different equipment used in the smart homes. On the brighter note, there is an ongoing research conducted by the companies towards the development of new products that will reduce the costs. Additionally, there are new players coming up in the market, who will lead to a price war and consequently, the reduction of prices in the upcoming years.
Major companies in the market like ABB, Emerson, Honeywell, Schneider Electric, Siemens, and LG, etc. are continuously releasing new products and services for the smart homes' market. This report has exhaustive resources to study the strategies adopted by these companies, in detail. To make this report highly useful for reference, it is divided by geography where the market share of each region is analyzed and estimates are provided for the analysis period 2017 - 2022. The various applications of smart homes have been discussed in detail, in addition to the comprehensive overview of the market.
Rising energy cost
Offer convenience and comfort
Initial cost is high
Standards required to monitor the market are not there
This Report Offers:
Market definition for the North America smart homes market, along with the identification of key drivers and restraints.
Market analysis for the North America smart homes market, with country-specific assessments and competitive analysis in the continent of North America.
Identification of factors instrumental in changing the market scenario and also, giving prospective opportunities.
Additionally, the identification of key companies that can influence the market on a regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their share in this market.
The identification and analysis of the macro and micro factors that affect the North America smart homes market.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
1.1 Study Deliverables
1.2 Markets Covered
1.3 Study Assumptions
2. Executive Summary
3. Market Overview
3.2 Market Definition
3.3 Premium Insights
4. Drivers, Constraints and Opportunities
4.1.1 Rising Energy Cost
4.1.2 Offer Convenience and Comfort
4.2.1 Initial Cost is High
4.2.2 Standards Required to Monitor the Market are Not There
4.3.1 Integration with Smart Grids
4.3.2 Consumer Electronics Market is Increasing
5. Technology Snapshot
5.2 Recent Developments
6. North America Smart Homes Market, by Technology
6.1.2 Market Size and Forecast
6.1.3 Analyst View
6.2.2 Market Size and Forecast
6.2.3 Analyst View
6.3.2 Market Size and Forecast
6.3.3 Analyst View
6.4.2 Market Size and Forecast
6.4.3 Analyst View
6.5.2 Market Size and Forecast
6.5.3 Analyst View
7. North America Smart Homes Market, by Region
7.3 United States
7.3.2 Market Trends and Opportunities
7.3.3 Market Demand to 2021
7.4.2 Market Trends and Opportunities
7.4.3 Market Demand to 2021
8.2 Market Share of Key Companies, by Geography
8.2 Market Share of Key Companies, by technologies
9 Company Profiles
9.1 ABB Ltd.
9.2 Emerson Electric Corporation
9.3 Honeywell International Inc.
9.4 Schneider Electric
9.5 Siemens AG
9.6 LG Electronics Inc.
9.7 Cisco Systems Inc.
9.8 Google Inc.
9.10 General Electric
10.2 Lutron Electronics Co. Inc.
10.3 United Technologies Corporation
10.4 Smarthome Inc.
10.5 Control4 Corporation