Oct. 22, 2013: Smart Homes Market to be Worth $51.77 Billion by 2020
Smart Homes Encompass HVAC, Energy Management Systems, Security, Access, and More
DALLAS — The global smart homes market is forecast to be worth $51.77 billion by 2020, growing at an estimated compound annual growth rate (CAGR) of 17.74 percent from 2013 to 2020, according to a new Smart Homes Market report published by MarketsandMarkets.
Smart homes are defined as a residence that integrates various home systems, which allows these systems to communicate with one another through a home controller. Smart homes encompass HVAC, energy management systems, security, access, lighting, and more.