Smart homes industry is gaining a significant traction, currently, as information and communication technologies are evolving to improve lifestyles. Smart homes have, now, become intelligent, with connected devices and equipment having the ability to coordinate with each other and performing in accordance to the occupant’s inclination. Such intelligent activity results in financial savings as well as increases the comfort levels. In addition to the private companies participating in the energy saving programs, even the governments are proactively considering and promoting energy saving initiatives with several incentives, and organizing educational programs through relevant media. Currently, the U.S. is home to the highest number of installed automation controllers, and contributes the maximum towards the smart homes market.
In a national press release, the Federal Bureau of Investigation in September, 2013 estimated that there has been a 0.7 percent increase in the violent crime rate. Incidents such as robbery, burglary, larceny-theft, and motor vehicle theft constituted the crime index. These statistics mandate people to protect their properties by installing security cameras and other intrusion detection devices. Security control occupied the largest market share in Americas smart home market, and is projected to grow at a healthy rate in the foreseeable future.
Also, owing to some energy conservative programs released by the U.S. governments, it is expected that a large group of the U.S. homes would be energy efficient as far as the lighting devices are concerned. As a part of the state effort in the U.S., the California State Assembly under Governor Arnold Schwarzenegger in 2007 passed a bill to phase out incandescent bulbs by 2018. Similarly, in April, 2007, Canada had announced several measures to phase out inefficient incandescent bulbs as a part of the plan to cut down green house gas emissions. The companies in the field of manufacturing lighting and security products are expected to gain a significant market share in the days to come, while the entertainment control products would prove the focal tenacity of these products to broader the overall revenue of the whole smart homes market.
Americas Smart Homes Market by Product (Security, Access, Lighting, Entertainment, Energy Management, HVAC, Ballast & Battery Pack), Service (Installation & Repair, Renovation & Customization) and Geography - Analysis & Forecast (2013 - 2020)
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