Rapid Pace of Technological Development Boosts Prospects of Home Automation Solutions in the Asia-Pacific, Finds Frost & Sullivan
The rising popularity of tablets and smartphones to alter market dynamics; mass market to rise to prominence
KUALA LUMPUR, Malaysia, Sept. 26, 2013 /PRNewswire/ -- Advances in technology have given a boost to the home automation market in Asia-Pacific in more ways than one. While sophisticated technologies improve the solutions' ease of use and increase consumer awareness, it also lowers its costs by facilitating installation and integration.
New analysis from Frost & Sullivan (http://www.buildingtechnologies.frost.com), Home Automation Markets in Asia-Pacific, finds that the market earned revenues of US$181.3 million in 2012 and estimates this to reach US$361.1 million in 2018. The study covers applications in entertainment, lighting, security and HVAC controls in the luxury and mass end-user segments.
The introduction of smartphones and tablets has had far-ranging ramifications for the home automation market. Not only have the mobile devices lowered the prices of the solutions, but have also improved the user interface.
While the luxury segment remains the main revenue generator, the ubiquity of tablet computers and smartphones will radically change the market landscape. The price reductions and simple user interface are expected to gradually tilt the market's balance in favor of the mass market.
"The integration of tablet computers and smartphones with home automation solutions are likely to appeal to the mass segment," said Frost & Sullivan Energy & Environmental Research Analyst Janice Wung. "Additionally, the current purchasing forces in the market are more technically savvy and willing to embrace new technologies. Hence, a higher number of end users are likely to install home automation systems."
However, even though the prices of the home automation system have fallen, the costs of installation and programming (approximately 40 percent of the total price) remains prohibitive. Additionally, the mass market in developing countries often considers home automation a lifestyle product and thereby, non-essential.
Market participants expect the mindset to change in due course as home buyers become younger. This new generation of home owners is better educated and technically savvy, and will give due consideration to home automation installations.
The rising energy prices will also add thrust to the demand for home automation, as it creates a need for higher energy efficiency among home owners. Apart from the environmental benefits, home automation is finding increasing favor with real-estate developers that wish to add value to their properties.
"With greater demand from end users for improved lifestyle, property developers have begun to tie home automation installation into their packages," noted Wung. "The offer of more properties with home automation also serves as an industry marketing campaign to educate and raise awareness among end users about home automation systems."
If you are interested in more information on this research, please send an email to Donna Jeremiah, Corporate Communications, at [email protected], with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
Home Automation Markets in Asia-Pacific is part of the Building Management Technologies Growth Partnership Service program. Frost & Sullivan's related research services include: Asia-Pacific Buildings Sector: Macro to Micro Implications of Mega Trends to 2025, Residential LED Market in Asia-Pacific, Morocco's Infrastructure Sectors, Top 25 Fastest Growing Power Producers in the Turkish Market, Sri Lanka Diesel Genset Market and Utility-scale Wind Turbine Technology Options and Pricing in Africa. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Home Automation Markets in Asia-Pacific
P725-19
Contact:
Donna Jeremiah
Corporate Communications – Asia Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
E: [email protected]
Carrie Low
Corporate Communications – Asia Pacific
P: +603 6204 5910
F: +603 6201 7402
E: [email protected]
Melissa Tan
Corporate Communications – Asia Pacific
P: +65 6890 0926
F: +65 6890 0999
E: [email protected]
SOURCE Frost & Sullivan
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