Smart homes have been introduced with a view to save energy, and at the same time, make life easier and luxurious. Smart homes include automated devices which can be handled remotely; for example, the lights and washing machine can be switched ON or OFF from a remote location. The owner can keep a check on visitors and, thus, safeguard the home. In the current APAC smart homes market, a lot of developments and regulatory initiatives are taking place with regards to the same.
The growth of the APAC smart homes market in the coming years is expected to have a stable growth, with the revenue growth estimated to reach $9.23 billion by 2020, at an estimated CAGR of 16.73% from 2013 to 2020. The APAC region accounted for 19% of the global smarty homes market revenue in 2012. The major players in the APAC smart homes market operating through their subsidiaries spread across the region, include; Siemens AG (Germany), Schneider Electric S.A. (France), ABB Ltd. (Switzerland), Ingersoll-Rand PLC (Ireland), Tyco International Ltd. (Switzerland), Emerson Electric Co. (U.S.), Legrand S.A. (France), Crestron Electronics, Inc. (U.S.) , Lutron Electronics, Inc. (U.S.), Honeywell International, Inc. (US), Samsung SNS Co. Ltd. (South Korea) and more.
The major drivers for the smart homes market include energy saving, increasing ageing population, regulatory initiatives by governments, and more. The introduction of smart meters to conserve energy is another growth opportunity for the smart homes market. Also, the smart electronic devices such as washing machine, refrigerators, air-conditioner, vacuum cleaner, smart TV, and the likes are going to drive the market. Moreover, major restraints like lack of standardization and high initial costs and their impact analysis are also covered under this report.
The report covers the market with products, services, and country of the APAC smart homes; it provides detailed analysis of the current market scenario and the estimation till the year 2020. The security control and lighting control systems are driving the APAC smart homes market. The market is already progressing well in the countries such as China, Singapore and others market which includes Thailand, Vietnam, Malaysia and Indonesia, and is expected to grow well even in the other parts of APAC regions such as Japan, South Korea and India nations due to the regulatory initiatives from the governments and the increased consumer interest in managing energy consumption.
This report describes the value chain for APAC smart homes market by considering all the major stakeholders in the market and their role analysis. The report also provides a detailed scrutiny of the Porter's five force analysis for the market. All the five major factors in these markets have been quantified using the internal key parameters governing each of them.
China, currently, leads the market share for APAC smart homes as this region has the maximum adoption. South East Asia countries from Others market are the emerging market for smart homes and are poised for the highest growth rate amongst all the countries followed by China growing at a CAGR of 17.50% from 2013-2020. It is estimated that the others market will increase at a CAGR of 19.13% from 2013 to 2020.
This report covers recent developments in the smart homes industry, such as; Honeywell International, Inc. announced an agreement to acquire Saia-Burgess Controls, a leading provider of intelligent building controls, from Hong Kong-based Johnson Electric in 2012, Legrand S.A. Acquired Numeric UPS, a market leader in India's low- and medium-power UPS in 2012.Several other recent developments and updated information about acquisitions, mergers, and new product launches and agreements conducted recently are also discussed in the report.
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