Smart Homes and Home Automation 4th Edition – PR Newswire – PR Newswire (press release)
Highlights from the fourth edition of the report:
Insights from 30 executive interviews with market leading companies 360-degree overview of the smart homes & home automation ecosystem:
Summary of industry trends in key vertical market segments
Statistical data on adoption of smart home systems in Europe and North America
New market forecasts lasting until 2020
Detailed reviews of the latest initiatives launched by industry players
Updated profiles of the key vendors on this market
91 million homes in Europe and North America will be smart by 2020.
Smart homes and home automation are ambiguous terms used in reference to a wide range of solutions for controlling, monitoring and automating functions in the home Berg Insight’s definition of a smart home system requires that it has a smartphone app or a web portal as a user interface Devices that only can be controlled with switches, timers, sensors and remote controls are thus not included in the scope of this study.
Smart home systems can be grouped into six primary categories: energy management and climate control systems; security and access control systems; lighting, window and appliance control systems; home appliances; audio-visual and entertainment systems; and healthcare and assisted living systems.
North America recorded strong growth in the smart home market during 2015. The installed base of smart home systems in the region increased by 62 percent to reach 169 million at the year-end. An estimated 28 million of these were multifunction or whole-home systems whereas 141 million were point solutions designed for one specific function. As some homes have more than one smart system in use, the installed base totalled an estimated 127 million smart homes at the end of the year. This corresponds to 97 percent of all households, placing North America as the most advanced smart home market in the world. Between 2015 and 2020, the number of households that have adopted smart home systems is forecasted to grow at a compound annual growth rate (CAGR) of 30 percent, resulting in 462 million smart homes Market revenues reached US$ 62 billion (€ 54 billion) in 2015, an increase of 42 percent year-on year.
The market is expected to grow at a CAGR of 31 percent between 2015 and 2020, reaching US$ 243 billion (€ 212 billion) in yearly revenues at the end of the forecast period.
The European market for smart home systems is still in an early stage and 2–3 years behind North America in terms of penetration and market maturity At the end of 2015, there were a total of 66 million smart home systems in use in the EU28+2 countries, up from 33 million in the previous year. Around 80 million of these systems were multifunction or whole-home systems whereas 58 million were point solutions. This corresponds to around 53 million smart homes when overlaps are taken into account, meaning that 24 percent of all households in the region were smart at the end of the year The number of European households that have adopted smart home systems is forecasted to grow at a compound annual growth rate (CAGR) of 54 percent during the next five years, resulting in 449 million smart homes by 2020 Market revenues grew by 157 percent to € 24 billion (US$ 27 billion) in 2015.
The market is forecasted to grow at a CAGR of 40 percent between 2015 and 2020 to reach € 128 billion (US$ 147 billion) at the end of the forecast period.
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