Europe Smart Homes Market - Growth, Trends and Forecasts (2016 - 2021)
Europe smart home market is increasing steadily. The market in this region is not as big as in North America. The European market is improving since the financial crisis and the economy in many countries is back to normal and is performing well. The consumers, in turn, have stable jobs and more disposable income to spend. This is increasing the demand for smart homes in this region.
The penetration in this region is increasing with the introduction and the increased usage of smartphones and tablets. These devices use modern technology and are portable. Technologies like bluetooth, GSM, Zigbee, wi-fi or RFID can be used to send the signals to control the devices. Installing these devices in newer homes is easier than retrofitting it in older houses. Architects these days, are taking this concept into consideration for the houses of the future.
Technology has come a long way in the last decade, which has enabled a lot of devices to be connected by one device alone. This is the technology that smart homes use. In smart homes, various devices like CCTV cameras, lighting, AC, TV, washing machine, etc. can be controlled by either a remote or a smartphone or tablet. The device can be turned on or off from anywhere outside the house provided the device controlling should get a signal. This can help in energy conservation when people often forget to switch off lights or some devices while leaving the house. As the CCTV footage can be seen anywhere, it gives the homeowners a sense of security leaving the house closed for a few days and even the alarm systems placed in the house can be controlled remotely if any burglary or theft is taking place in the house.
There are some constraints for the market like the initial cost of installation of different equipment used in smart homes is high. There is continued research going on by the companies and development of new products that will reduce the costs, also there are new players coming into the market which will lead to a price war and reduction of prices in the coming years.
Major companies in the market like ABB, Emerson, Honeywell, Schneider Electric, Siemens, LG etc. are releasing new products and services for the smart homes market. These companies have been studied and their strategies have been analyzed in the report. The report is divided by geography where the market share of each region is analyzed and estimates are provided for the period 2016 - 2021. The various applications of smart homes have been discussed in detail in addition to a comprehensive overview of the market.
What the Report Offers
Market definition for the Europe smart homes market, along with identification of key drivers and restraints. Market analysis for the Europe smart homes, with country-specific assessments and competition analysis in Europe. Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on a regional scale. Extensively researched competitive landscape section with profiles of major companies along with their share of the market. Identification and analysis of the macro and micro factors that affect the Europe smart homes market. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
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