APAC smart homes market worth $9.28 billion by 2020

DALLAS, USA: According to a new market research report, "APAC Smart Homes Market - By Products (Security, Access, Lighting, Entertainment, Energy Management Systems, HVAC, and Ballast & Battery Pack), Services (Installation & Repair, Renovation & Customization) and Geography - Analysis & Forecast (2013-2020)", published by MarketsandMarkets, the total market for the APAC smart homes market will be worth $9.28 billion by 2020 at an estimated CAGR of 16.73 billion.

"Smart home" is technically defined as the home consisting of combination of multiple high end products, which are designed for selective and particular application so as to provide the homeowner total comfort, convenience and complete control of his/her house.

The major reasons that are boosting the APAC Smart Homes Market are perseverance of energy and energy management and consumption, increase in percentage of ageing population across APAC countries, secured, comfort and convenient lifestyle, government initiatives, and many more. There are restraints in the market such as lack of awareness, high price of systems, and complexity of systems which are inhibiting the market growth.