Home Automation and Control Market to reach £8.2 billion by 2020
The global Home Automation and Control Market was worth $5.77 Billion in 2013 and is expected to reach £8.2 billion by 2020, a recent report by MarketsandMarkets was able to reveal.
The report, titled “Home Automation and Control Market by Lighting Control (Occupancy Sensors, Relays, Transmitters), Security & Access Control (Video Surveillance, Biometric), HVAC Control (Heating & Cooling Coils, Pumps & Fans, Sensors), and Geography – Global Forecast to 2020”, also suggests that the global market is likely to grow at a CAGR of 11.36% between 2014 and 2020.
Even though the concept of home automation has been in existence for a long time, the market has witnessed a profound growth, mainly, during the last five years. The growing awareness about wireless technologies and the various developments related to the integration of wired and wireless technologies is expected to propel the home automation & control market in future.
The increasing preference of consumers for convenience, connectivity, safety & security, and demand for energy efficient and green product solutions are expected to drive the growth of this market. Energy management and HVAC automation systems too are expected to see a similar growth phase, during the forecast period.
The best solution for reducing and thoroughly managing energy bills is the implementation of a solid and reliable Building Energy Management system.
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.
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