New Market Research Reports Title “Smart Homes Market Analysis Size and Segment Forecasts to 2020” Has Been Added to GrandViewResearch.com Report Database
The global smart homes market is expected to reach USD 47.61 billion by 2020, according to a new study by Grand View Research, Inc. Emphasis on reduced carbon emission and energy conservation are expected to be the key driving forces for the market over the forecast period. Favorable regulatory initiatives for implementing smart homes owing to their energy efficiency characteristics are further expected to positively impact the global market over the next six years.
Browse full research report on Global Smart Homes Market: http://www.grandviewresearch.com/industry-analysis/smart-homes-industry
Increased aging population, which comprises a majority of end-users of this technology, is also expected to boost market growth. Introduction of smart grids, increased personal income in developing economies, assistance of power line communication, and growth of consumer electronics industry are factors expected to favorably impact market growth. Need for standardization, skilled labor and high initial cost due to the incorporation of advanced technologies such as IP and Bluetooth may pose a challenge to industry growth.
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Further key findings from the study suggest:
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
For the purpose of this study, Grand View Research has segmented the global smart homes market on the basis of application and region: