According to a new market research report, "European Smart Homes Market - by Products (Security, Access, Lighting, Entertainment, Energy Management Systems, HVAC, and Ballast & Battery Pack), Services (Installation & Repair, Renovation & Customization) & Country - Global Forecasts and Analysis 2013 – 2020 ", published by MarketsandMarkets, the total market for European Smart Homes Market will be worth $13.81billion by 2020 at an estimated CAGR of 18.17%.
Browse 132 market data tables with 85 figures spread through 404 pages and in-depth TOC on "European Smart Homes Market by Products (Security, Access, Lighting, Entertainment, Energy Management Systems, HVAC, and Ballast & Battery Pack), Services (Installation & Repair, Renovation & Customization) & Country - Global Forecasts and Analysis 2013 – 2020"
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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.
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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.
Siemens AG (Germany) is dedicated to automation of homes in all aspects and has the presence in markets across major countries in Europe. The company provides full range of products and services for an intelligent smart home, from all across the business divisions it operates from. For instance, the information & communications division offers communications options; automation & control provides automation & drives products; medical division offers home healthcare; and likewise, in terms of the top market players, lighting is taken care of by OSRAM; appliances from BSH (Bosch & Siemens Appliances), and IT equipment from Fujitsu Computers. 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.
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‘Siemens AG’ enjoys the highest share in the European smart homes market and is expected to continue to dominate the market in the long run because of its high technical expertise, wide range of smart homes product offerings, and presence of a strong distribution and network channels and subsidiaries. The company is a leading member of CABA (Continental Automated Buildings Association) and smart home associations. The company is poised to retain the title of being the ‘market leader’ in the coming years with its strong presence in the European region and is expected to grow at a faster rate in the smart homes industry.
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