European Smart Homes Market

Huge Opportunity Implementing the Smart Homes Products

Smart homes industry is gaining interest among a majority of home owners, new home buyers and property developers, and housing industries in Europe, off-late. Wide range of products and evolved form of connectivity technology, which is projected to make life secured, convenient, and comfortable are the key reasons that are drawing various private manufacturers, government, and end users towards the smart homes concept. Currently, Europe is majorly driven by the regulatory initiatives and the mandatory measures taken by the European Union (EU) to reduce green house gases and to reduce energy consumption. The EU has set a target of 80% market penetration of smart meters by 2020 in Europe. This will allow the home owners to manage the energy efficiently, and offer an opportunity for the home automation developers to tap this market segment.

The security control is the biggest feature of smart homes products. In Europe, the increasing rate of home thefts and burglaries has driven the need for home security monitoring systems that can be facilitated with the help of security controls. However, a majority of the home owners are interested in features such as lighting and energy management. For better ambient lighting and energy saving features, lighting controls have emerged as being of prime importance in smart homes. Also, it is observed that KNX is playing a pivotal role in standardizing the communication protocol in order to increase the interoperability between the devices, and to cater the mass markets.

A huge opportunity lies in implementing the smart homes products in new homes as compared to retrofit homes. 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 level of focal tenacity of these products to broaden the overall revenue of the smart homes market. Affordable smart home solutions are still not common in Europe; however, a majority of the players have started focusing on affordability of the solutions and standardization. Standardization and affordability are expected to drive the European smart homes market and, eventually, reach the mass markets.

Related Reports:

European Smart Homes Market by Products (Security, Access, Lighting, Entertainment, Energy Management Systems, HVAC, and Ballast & Battery Pack), Services (Installation & Repair, Renovation & Customization) & Country - Analysis & Forecast (2013 2020)

Contact:
Mr. Rohan
North - Dominion Plaza,
17304 Preston Road,
Suite 800, Dallas, TX 75252
Tel: +1-888-6006-441
Email: sales@marketsandmarkets.com

Report Code
SE 3326
Published ON
Apr, 2015
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the European Smart Homes Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved