Smart homes market expected to grow 17% annually to 2020

According to a new market research report about “smart home” products, the market is expected to grow at an annual growth rate of 17% between 2015 and 2020, and reach US$59 billion by 2020.

According to MarketsandMarkets, the publisher of this “Smart Homes Market” report, the smart homes market is highly fragmented and expected to consolidate. The smart homes service providers are beginning to gain traction in the marketplace, and we could see more smart homes technology players entering the market before an inevitable consolidation occurs, the company states.

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