DALLAS, April 25, 2011 /PRNewswire/ -- According to a new market research report, 'European Smart Homes and Assisted Living Market (2010 - 2015)', published by MarketsandMarkets (http://www.marketsandmarkets.com), 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% of the total revenues. The market is expected to record a CAGR of 16.2% from 2010 to 2015.
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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% from 2010 to 2015. The entertainment and energy management market is expected to grow with relatively high CAGR of 19.6% and 21.4% 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% 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.
Scope of the report This report analyzes the European smart homes markets based on: Applications Market: - Security, lighting, HVAC, entertainment, energy management and others. Geographic Market:
- Northern Europe, Eastern Europe, Western Europe, Southern Europe and Central Europe
In addition to market sizes and forecasts, the report also provides a detailed analysis of the market trends and factors influencing market growth, offering in-depth geographic analyses of the smart homes applications in Northern Europe, Eastern Europe, Western Europe, Southern Europe and Central Europe. The report draws the competitive landscape of the smart homes market, providing an in-depth comparative analysis of the technological and marketing strategies the key players are adopting in order to gain an edge over the their competitors.
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