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
What it is and how to use it.
Investors in People: CIOB achieves gold
Reflecting a commitment to employees and members.
Scratching beneath the surface; a guide to selection.
ECA 2024 Apprentice of the Year Award
Entries open for submission until May 31.
UK gov apprenticeship funding from April 2024
Brief summary the policy paper updated in March.
For the World Autism Awareness Month of April.
70+ experts appointed to public sector fire safety framework
The Fire Safety (FS2) Framework from LHC Procurement.
Project and programme management codes of practice
CIOB publications for built environment professionals.
The ECA Industry Awards 2024 now open !
Recognising the best in the electrotechnical industry.
Sustainable development concepts decade by decade.
The regenerative structural engineer
A call for design that will repair the natural world.
Buildings that mimic the restorative aspects found in nature.
CIAT publishes Principal Designer Competency Framework
For those considering applying for registration as a PD.
BSRIA Building Reg's guidance: The second staircase
An overview focusing on aspects which most affect the building services industry.
Design codes and pattern books
Harmonious proportions and golden sections.
Introducing or next Guest Editor Arun Baybars
Practising architect and design panel review member.