Smart homes market to grow at 17% CAGR to 2020, fresh research reveals

The smart home market is set to reach $58.68 billion by 2020 at 17% CAGR between 2015 and 2020, a recent research report has been able to find.

The "Global Smart Homes Market Report 2015" points out that the smart home market revolves around green home solutions, which include smart energy management systems; and follow a minimal usage of energy and monitoring of appliances.

With the increasing awareness about energy efficiency and the optimum utilization of the same, a majority of home owners are driven towards the smart home concept that not only offers better energy management but also provides security, convenience, and comfort. The real estate industry has been witnessing a massive transformation in the recent past with innovative concepts ever since, the concepts of home automation, smart homes, and connected homes have materialized.

A strong impetus from smart home product manufacturers and concerns related to security and energy savings have gained prime importance in the smart homes market. Smart home device manufacturers are also coming up with innovative wireless technologies across different sectors, which include security control & access control, entertainment control, energy management systems, and HVAC control.

HeatingSave — turning any household into a smart, energy-saving smart home

Implementing specific smart control solutions designed to improve the level of heating efficiency across both domestic and commercial buildings is yet another factor that could help reduce energy consumption (and, with it, carbon generation), and that's specifically where Building Energy Management Systems come into play.

Building Energy Management Systems are capable of delivering extensive monitoring and control options, compared to basic controls. They typically employ data from a variety of sources (boiler flow and return sensors, internal and external temperature sensors, occupancy sensors, humidity sensors, etc.), and enable the perfect optimization of a building's boiler-based central heating system.

If you'd like to find out more about the savings enabled by the HeatingSave Building Energy Management System, just contact our dedicated product team, they'll be more than happy to answer all of your questions and queries.