European Smart Homes and Assisted Living - Advanced Technologies and Global Market

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REPORT DESCRIPTION

Smart homes employ cutting-edge technologies to offer a holistic solution for domestic safety, security, and comfort. Smart homes provide high energy-efficiency, and make daily domestic routines more convenient while reducing the time-consumption involved therein. Smart homes also promise to improve the living standards of those heavily dependent on home care, such as the elderly and the disabled. The benefits of smart homes range from gate access to garden irrigation. Smart homes have already started attracting stakeholders including architects, developers, and device manufacturers. The reduction in prices of smart homes is the key to its future market growth.

Existing studies and third party market reports do not provide a comprehensive understanding of the smart home market and there is a lack of focus on its various market segments. This report provides the current size and estimates of the smart home market and its various sub-segments, accompanied with a geographic split of each submarket. This has so far not been done by any other third-party report.

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The European smart homes and assisted living market can be categorized as per home-control products dealing with various automation requirements such as lighting, security, entertainment, and HVAC (heating, ventilation, and air conditioning). The report presents an in-depth analysis accompanied with market tables for each submarket in various geographic regions, including Germany, Sweden, and Italy. It also explains in detail the important standards of smart homes like KNX, Zigbee, Z wave, Insteon, and X10. Each section will provide market drivers, trends and opportunities; and the report’s competitive landscape chapter profiles the top-selling products and 30 key players in the market.

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2. What are market estimates and forecasts; which markets are doing well and which are not?
3. Where are the gaps and opportunities; what factors are driving market growth?
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5. What is the competitive landscape; who are the main players in each segment; what are their strategic directives, operational strengths, key selling products, and product pipelines? Who is doing what?

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Smart homes incorporate automated controls in retrofit homes to facilitate minimal manual effort in domestic chores; thus improving convenience and overall lifestyle, especially for the elderly and disabled. Different integrating products and common technology is used for communication between the devices. The European (retrofit) smart homes and assisted living market is a niche market with a significant growth potential, driven primarily by the increase in the ageing population (65 years-80 years) in the European Union. UK, Germany, and the Scandinavian countries are expected to dominate the market due to the tendency of the aged to live separately from their children and ready acceptance of the smart homes concept in these countries.

Almost a quarter of the E.U. population is expected to be of age 65 years and above by 2035. The European Commission has thus begun underlining the need to use new information and communication technologies (ICT) to enhance the quality of life for the elderly by providing them ICT-enabled ambient assisted living options through the new-age concept of automated or smart homes. The integration of this population segment in today’s information society would also bring socio-economic benefits, as the elderly in the EU have substantial accumulated wealth and spending power.

The European smart homes and assisted living market is expected to reach a size €152.2 million ($195.9 million) in 2014, at a CAGR of 11.1% from 2009 to 2014. Security controls form one of the most important products used in (retrofit) smart homes; and are expected to command a significant market size of €65.9 million ($84.8 million) in 2014, growing at a CAGR of 13.0% from 2009 to 2014. The European smart homes and assisted living market is fragmented with large number of market participants of diverse sizes and core-competencies. The major market players are Siemens, Crestron, and Schneider Electric.

However, the European smart homes market is currently experiencing restrained growth due to lack of consumer awareness. Electrical installers too currently have little knowledge of smart home systems; and thus do not recommend such solutions to the potential customers. Marketing efforts and direct communication with end-users through advertisements highlighting the benefits of retrofit smart homes is expected to soon increase consumer awareness.

The integration of smart homes and telecare are expected to provide significant market opportunities. Telecare provides a reactive support system for the patient in his or her own home, and thus facilitates a greater degree of independent living; while smart homes equipped with networked intelligent devices, controllers, sensors, and actuators ensure safer living conditions. The integration of these two ICT offshoots will enhance overall lifestyles for the elderly and disabled by offering the combined benefits of the two technologies. This would significantly enhance the market prospects for the retrofit smart homes for elderly and the disabled.