The global smart homes and
buildings market is expected to grow at a significant CAGR of 29.5%
between 2013 and 2020. This is attributed to rising energy costs and
government initiatives. Some of the key government initiatives include
regulations such as Commercial Buildings Initiatives (CBI) by the U.S.
government aims at making all commercial buildings completely energy
independent by 2025. This implies that commercial buildings should have
facilities to generate onsite power. Energy efficiency has become the need of
the hour as it is expected that energy demand would increase by 40% between
2010 and 2040. The key restraint for the growth is the high upfront investment
that is required for well-integrated smart technologies. Perceived value versus
the cost issue is still a concern that is impacting the adoption rates.
Increasing smart homes and buildings with well-integrated and applied
technologies will precisely lead to envisioned concept of “Smart Cities”
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KEY
BENEFITS
· -This
report provides market intelligence with respect to applications, products,
technologies, end-users and geography so that companies can make precise
investment decisions.
· -In-depth
analysis of top factors such as drivers, restraints and opportunities affecting
the market growth and their impact in the short and mid-term.
· -Value
chain analysis provides for the significance and role of all stakeholders of
the market.
· - Porter’s
five forces analysis offers insights into the potency of buyers and suppliers
and competitive scenario of the market.
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