According to a new market research report, "APAC Smart Homes Market - By Products (Security, Access, Lighting, Entertainment, Energy Management Systems, HVAC, and Ballast & Battery Pack), Services (Installation & Repair, Renovation & Customization) and Geography - Analysis & Forecast (2013-2020)", the total market for the APAC smart homes market will be worth $9.28 billion by 2020 at an estimated CAGR of 16.73%.
Browse 124 market data tables and 74 figures spread through 368 pages and in-depth TOC on "APAC Smart Homes Market - By Products (Security, Access, Lighting, Entertainment, Energy Management Systems, HVAC, and Ballast & Battery Pack), Services (Installation & Repair, Renovation & Customization) and Geography - Analysis & Forecast (2013-2020)."
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Siemens AG. (Germany) is dedicated to automation of homes in all aspects and has the presence in markets across various geographies. The company provides full range of products and services for an intelligent smart home, from across the business divisions it operates from. For instance, the information & communications division offers communications; automation & control provides automation & drives; medical for home healthcare; lighting from OSRAM; appliances from BSH (Bosch & Siemens Appliances) and IT equipment from Fujitsu Computers.
Due to large geographic area of APAC region various factor affect across the region affect the decision making process of end users to adopt smart home concept. These factors either drive or restrain the smart homes market towards growth. There are various factors that are driving the implementation of smart home systems; such as home energy consumption, regulatory initiatives, and more. Due to the potential growth in the APAC smart homes market, numerous startup companies have emerged to offer smart homes solutions and are having strong presence in their niche market share.
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There has been a rise in partnerships among the industry players such as Honeywell, International, Inc. (U.S.) and Haier Group (China) signed for Honeywell International, Inc. and Haier Group (China) signed memorandum of understanding for global strategic cooperation on the development and promotion of energy-efficiency products and solutions. Whereas, MoU’s was signed between associations such as the Continental Automated Buildings Association (CABA) and China Smart Home Industry Alliance (CSHIA), to promote Chinese Smart Home manufacturers to export and sell their products into European markets while CABA members can also promote their trade services across China smart homes market. All the major industry leaders are contributing extensively to research and development activities to get the first mover advantage in APAC smart homes products or services and Crestron Asia Ltd., headquartered at Hong Kong has currently outweighed industry leaders in contributing to new products and development to the APAC smart homes market.
The company is involved in huge investments in research & development of smart home products. Recently, the Siemens Building Technologies division launched second-generation RDD/RDE room thermostats. The thermostats have a contemporary design and new touch controls that allow them to be operated without pressing any buttons. Also, the division introduced new passive infrared motion detectors that offer protection against intrusion. These devices employ the patented “Magic Mirror technology” from Siemens, which sets new standards in detection sensitivity and enables an extremely compact design. Magic Mirror detectors are less susceptible to false alarms.
Siemens AG enjoys the highest share in the APAC smart homes market currently and is expected to have strong competition from its rivals such as Schneider Electric S.A., Honeywell International, Inc. and U.S. based Crestron Electronics, Inc. in the long run because of deep product differentiation, wide range of smart homes product offerings and presence of strong distribution and network channels of almost all smart home manufacturers across APAC countries through its subsidiaries and APAC regional offices. The company is a leading member of CABA and smart home associations. Due to aggressive marketing, product launches, product developments and promotions, it is expected that Crestron Asia Ltd. (Hong Kong), Legrand S.A. (France) and Honeywell Security Asia-Pacific Group (China) of Honeywell International, Inc. (U.S.) are expected to garner more market share and will rise in the ranks in future overtaking Siemens AG (Germany) and Schneider Electric S.A. (France).
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The report revolves around the different types of smart homes products and technologies deployed in the Smart Homes. The paradigm shift in the lifestyle of the end users/home owners from the traditional automation devices to the highly energy efficient and better connectivity based products has resulted in the adoption of modern and advanced technologies by the APAC smart homes market. Of the APAC smart homes market by products, the security control and the lighting control market are expected to grow at the fastest CAGR of 19.22% and 26.59% from 2013 to 2020 respectively.
Market dynamics of the APAC smart homes market is provided in this report, which includes the drivers, restraints, and opportunities. The market dynamics for individual smart homes products are also covered. The driving factors for the APAC smart homes market include lifestyle solutions with effective & efficient use of energy, Governmental organization/agencies promoting Smart Homes Concept, Ageing population to increase substantially from 2000 to 2025, Smart Homes offer Mobility, Comfort and convenience at fingertips, which are expected to drive the smart homes sales in the next seven years. The major restraints for the APAC smart homes market are the Lack of Awareness and usability prime concern for Smart Home Market, High Price of Systems exempts end users for adopting Smart Homes Market and Complexity of the systems and regional differences across APAC region. Large Homes and Commercial Segment projects across APAC real estate sector, growing interest in the consumer electronics industry, rising personal income & growing middle class in emerging economies are the key opportunities for the smart homes market. This report also throws light on the burning issues and winning imperatives for the APAC smart homes market.
The agenda for the briefing includes discussion on key high growth markets, thereby marking the growth trend in the APAC smart homes market by products and services. Furthermore, a briefing will be conducted on the competitive scenario and country specific trends and opportunities in the macro- and micro-markets with respect to China, India, Japan, South Korea and South East Asian countries which include Thailand, Malaysia, Indonesia, Vietnam and SIngapore.
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