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Global smart housing equipment market: 10% CAGR growth expected between 2012-2016
Global Smart Housing Equipment Market 2012-2016 - a new market research report on 2014-04-29 03:43:03
The Global Smart Housing Equipment market is to grow at a CAGR of 10.03 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increased adoption of smart grid. The Global Smart Housing Equipment market has also been witnessing the increased availability of self-help smart home applications. However, the high cost of smart housing equipment, when compared with conventional housing equipment, could pose a challenge to the growth of this market.
A major trend witnessed in the Global Smart Housing Equipment market is the increased availability of self-help applications. Companies that provide smart housing equipment solutions are nowadays increasingly introducing user-friendly programming platforms that are used to deploy several self-help applications. This helps further automate smart homes and improves their serviceability. Distinct programming helps end-users set controls to be switched on or off at specified times, thereby minimizing the need for human interference. These options are created through simple programming and require little prior training or expertise. This is one of the major positive trends observed in the Global Smart Housing Equipment market.
One of the major drivers is the increase in the deployment of smart grids. Smart grids include the integration of various smart technologies at the consumer end to the power grid, a few of which are smart housing equipment too. For instance, various smart housing equipment that are part of smart grids include smart meters, photovoltaic, small wind generator systems, energy storage systems, and HEMSs. As a result, the increase in adoption of smart grid in turn will increase the growth of the Global Smart Housing Equipment market in the future.
One of the major challenges in the market is that smart housing equipment is expensive when compared to conventional housing equipment. This makes it difficult for households to adopt this technology as the initial investment required is huge, even offsetting the future savings facilitated by smart housing equipment. This will in turn adversely affect growth of the market in the future.
The key vendors dominating this space include, Echelon Corp., Elster Group SE, GE Energy LLC., Itron Inc., and Landis+Gyr AG. The other vendors mentioned in the report are Ballard Power Systems Inc., ClearEdge Power, Creamic Fuel Cell Ltd., First Solar Inc., FuelCell Energy Inc., Gintech Energy Corp., Hanwha Solar One Co. Ltd., Horizon Fuel Cell Technologies, Hydrogenics Corp., IdaTech, Iskraemeco, JA Solar Holdings Co., Kyocera Corp., Morphic Fuel Cells, Nuvera Fuel Cells, Plug Power, Protonex, Q-Cells, Sensus Ltd., SFC Smart Fuel Cell Inc., Sharp Solar, Sunpower Corp., Suntech Power, Trina Solar Ltd., Trulite Inc., UTC Power , and Yingli Green Energy Holdings Company Ltd.
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