BCC Research has released the latest report on Home Automation Security technologies and Markets in the US.
According to the report, the home automation section of the market is set to reach 5.5 billion by the year 2016 at a growth rate of 10.5% annually and the revenue for the year 2011 equals 3.4 billion. The home automation market in the US can be broadly classified into lighting, home entertainment and security systems and energy management and HVAC systems. Of these two sections, the former showed revenue of 2.1 billion in 2011 and was poised to grow at the rate of 12.2% annually to reach 3.8 billion by 2016. The latter system cashed in 1.2 billion in 2011 and was expected to reach 1.7 billion by 2016 at the rate of 7.4% annually.
Home automation has grown considerably in recent times mainly due to the growing demand and the supply. The demand is mainly due to increase in the living standards of people which increase the need for higher levels of security of their resources. People’s lives are now surrounded by technologically advanced devices that have created a greater need for home automation systems. The manufacture of these automation systems has also come down considerably, which increases the number of buyers in the market. Despite impedances in the growth of home automation systems like financial crisis, labor and installation costs etc, positive developments like wireless technologies have helped in increasing the demand for home automation.
The report from BCC Research provides useful information for suppliers of home automation systems. The data published in the report proves useful for financial, marketing and management analyses. The energy saving concepts in the home automation systems are bound to be of interest to Government agencies and public interest groups.
Source: http://www.bccresearch.com/