Smart home and light commercial market in 2017
To see more of the findings of this report go to: Smart homes and smart light commercial market 2017
In March 2017, BSRIA forecast growth of 20% in the global smart home/light commercial market over the course of the year, with the largest growth rate (29%) being predicted for the UK market.
The study segments the market into stand-alone products and whole home products, and also analyses the value of system integration and service and maintenance.
The value of the global market is forecast to be $15.8 billion in 2017. The US market remains the largest single market forecast at 29% of the total market value. Despite the maturity of the US market, its growth is expected to be in line with the global increase in value of 20%, with stand-alone products showing the largest growth at 27%.
The study, which consists of individual reports on China, France, Germany, Netherlands, North America and UK, is forecasting rapid growth in sales of both products and system integration but due to the relative infancy of the market, a lower level of sales for service and maintenance.
The reports show that the largest individual sector is luxury villas, accounting for 25% of the market value; the second and third largest segments, offices and hotels respectively, represent a combined total of 23% of the market.
The report also assesses the longer-term outlook until 2021, when it is forecast that the total global market will be worth $29.8 billion.
Zoltan Karpathy, Operations Manager, BSRIA Worldwide Market Intelligence division, said: “The sales of smart home products and the associated services are forecast to grow at high CAGRs; this is, in part due to the infancy of certain markets, and in part due to the increased awareness and expectations on the end users. The key drivers for the growth are subtly different in each country, ranging from a drive to improve energy efficiency, to improved security, but a trend that is gaining momentum is the use of smart home equipment in light commercial applications and it is forecast that this trend will accelerate”.
This article was originally published here by BSRIA in March 2017.
--BSRIA
[edit] Related articles on Designing Buildings Wiki
- BSRIA articles on Designing Buildings Wiki.
- Building management systems.
- European connected and smart home market.
- Internet of things.
- Smart buildings.
- Smart cities.
- Smart home.
- Smart homes and smart light commercial market 2017.
- Smart homes may be where the smart money is.
- The global smart homes market.
- The problems with smart buildings.
- The smart buildings market.
- What are the benefits of smart homes for Millennial end-users?
Featured articles and news
Homes England supports Greencore Homes
42 new build affordable sustainable homes in Oxfordshire.
Zero carbon social housing: unlocking brownfield potential
Seven ZEDpod strategies for brownfield housing success.
CIOB report; a blueprint for SDGs and the built environment
Pairing the Sustainable Development Goals with projects.
Types, tests, standards and fires relating to external cladding
Brief descriptions with an extensive list of fires for review.
Latest Build UK Building Safety Regime explainer published
Key elements in one short, now updated document.
UKGBC launch the UK Climate Resilience Roadmap
First guidance of its kind on direct climate impacts for the built environment and how it can adapt.
CLC Health, Safety and Wellbeing Strategy 2025
Launched by the Minister for Industry to look at fatalities on site, improving mental health and other issues.
One of the most impressive Victorian architects. Book review.
Common Assessment Standard now with building safety
New CAS update now includes mandatory building safety questions.
RTPI leader to become new CIOB Chief Executive Officer
Dr Victoria Hills MRTPI, FICE to take over after Caroline Gumble’s departure.
Social and affordable housing, a long term plan for delivery
The “Delivering a Decade of Renewal for Social and Affordable Housing” strategy sets out future path.
A change to adoptive architecture
Effects of global weather warming on architectural detailing, material choice and human interaction.
The proposed publicly owned and backed subsidiary of Homes England, to facilitate new homes.
How big is the problem and what can we do to mitigate the effects?
Overheating guidance and tools for building designers
A number of cool guides to help with the heat.
The UK's Modern Industrial Strategy: A 10 year plan
Previous consultation criticism, current key elements and general support with some persisting reservations.
Building Safety Regulator reforms
New roles, new staff and a new fast track service pave the way for a single construction regulator.