Smart home technology involves the use of automated sensors and devices to control things like lighting, air conditioning, televisions, home surveillance systems and more. The following two reports explore the smart homes systems market and where it's headed.
The U.S. Department of Energy says the average residential power bill is approximately $110.21. Of course, some homeowners pay more to power their home. Being that electricity is essential for countless tasks, however, this isn't a bill you can easily eliminate. But you can lower your monthly power bill by implementing smart home technology, such as that explored in the following two market reports.
According to the Global Smart Homes Systems Market Research 2017 report by ResearchnReports, the global smart homes systems market is expected to grow at a healthy rate in the years to come. Featuring insight from professionals and industry experts, this report explores the market from all angles while revealing both current and future prospective scenarios. Among other things, it reveals the smart homes systems market's trends, developments, products, applications, end-use industries, key regions, growth, cost, revenue, demand, supply data and more.
The report concludes with a SWOT analysis of the global smart homes systems market, allowing potential investors to make smarter decisions. But whether you're an investor of smart home technology, a professional in the industry, or simply a consumer of smart home products, you should consider buying this report. It's one of the most detailed and comprehensive reports analyzing the smart homes systems market.
Some of the key smart homes systems vendors profiled in this report include ADT, Honeywell, Vivint, Nortek, Crestron, Lutron, Leviton, Comcast, ABB, Acuity Brands, Alarm.com, Control4, Schneider Electric, Time Warner Cable, Siemens, AG, and others.
The Smart Home Market by Product (Lighting Control, Security & Access Control, HVAC, Entertainment & Other Control, Home Healthcare, Smart Kitchen, and Home Appliances), Software & Service (Behavioral, Proactive), and Geography - Global Forecast to 2023 report by MarketsandMarkets is a second comprehensive study of the global smart home market. Like the aforementioned report, it also covers both current and future prospective scenarios. According to this report, one of the fundamental drivers of the smart homes systems market is the rising cost of electricity for homeowners. With utility bills on the rise, homeowners are searching for new ways to cut their energy usage and subsequently lower their monthly power bills. The use of smart home technology is one such solution that can make a world of difference in the average homeowner's energy usage.
As explained in the report, smart meters are used in smart homes to calculate energy consumption in real time. They allow homeowners to see exactly how much power they are consuming, and using this information homeowners can make the necessary changes to reduce their energy usage.
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