According to a new market research report, European Smart Homes and Assisted Living Market (2010 – 2015), published by MarketsandMarkets , the total European smart homes market is expected to be worth $3,267 million by 2015, out of which the security market accounted for nearly 24.6 percent of the total revenues. The market is expected to record a CAGR of 16.2 percent from 2010 to 2015.
Increasing demand for energy efficient systems, increasing number of venture capital funding, rising security issues and increasing aging population have increased the demand for smart homes in Europe.
Amongst all the smart homes applications, security market generated the highest revenue of $380.5 million in 2010 and is expected to reach $741.6 million in 2015, with a CAGR of 14.3 percent from 2010 to 2015.
The entertainment and energy management market is expected to grow with relatively high CAGR of 19.6 percent and 21.4 percent respectively from 2010 to 2015.
At present, Northern Europe dominates the European Smart Homes Market, followed by Southern Europe – the second largest market for smart homes. These two, together, accounted for 55.5 percent of the total European smart homes revenues in 2010. Central Europe and Western Europe are the fastest growing regions and this trend is expected to continue in the forecasted period as well.
By TelecomLead.com
