The smart home is a trend expected to grow worldwide, but the reasons for implementation vary by region. Japan is a particularly interesting case due to the country’s advanced technological communities and dense population. The following is a snapshot of recent developments in Japan’s smart home market, in the context of broader global trends.
The global smart homes and buildings market is due to grow significantly between 2013 and 2020, with a compound annual growth rate (CAGR) of 29.5 percent, according to Allied Market Research. Their report entitled “Global Smart Homes, Buildings (Energy Efficient, Automated) Market (Applications, Technologies, Products and End-User), Size, Share, Trends, Analysis, Research, Future Demand, Scope and Forecast, 2013 – 2020,” expects market revenue to grow to $35.3 billion by 2020, which is a significant increase from $4.8 billion in 2012. Rising energy costs, government initiatives and greater awareness of environmental concerns attribute to the rise we will see leading up to 2020.
The market of safety and security application expects to see substantial growth by 2020, with revenue reaching $6,132.4 million by 2020 with an expected CAGR of 34.6 percent. “This market is expected to evidence significant growth due to growing security concerns and enhanced safety features that smart automation systems can currently offer. With an increase in the working population, safety concerns with respect to aged parents and children is the biggest challenge. Smart home address these issues with highly-sophisticated remote monitoring technologies,” states Shreyas Naidu, Research Analyst at Allied Market Research.
Read more: http://siliconangle.com/blog/2015/03/30/the-latest-in-japanese-smart-homes-why-this-market-is-central-to-rd/