Smart home technology applications are increasingly becoming an integral feature of new buildings and retro-fit properties. The demand for these applications is driven mainly by the increasing focus of U.S. and several European governments on environmental issues such as efficient use of energy. Assisted living applications are also rapidly gaining popularity due to the increasing healthcare expenditure on the growing ageing population in these regions. Builders and developers have also begun realizing that implementing smart home technology applications is the right way of staying ahead of emerging regulatory requirements.

The elderly and disabled are the primary beneficiaries of the technological advancements in the smart homes market, as the technology facilitates greater independence for these population segments. The benefits of smart homes range from easy environment and utility management to rich communication and entertainment services. The products in the smart homes market that have seen significant demand in the recent past are security controls, entertainment controls, lighting controls, heating ventilation and air conditioning (HVAC) controls, and multi-function controls. The long-term success of smart home systems will be determined by perceived potential benefits to homeowners, and more importantly, by the lowering of prices.

The briefing on the Smart Homes and Assisted Living - Advanced Technologies and Global Market (2009-2014) will benefit housing developers, architects, smart home device manufacturers, dealers, designers, installers, and home owners. “The early movers in the industry will benefit in terms of market share but it is important that they focus on cost reduction. Smart homes will achieve significant success with the increase in use of broadband internet in homes.” notes MarketsandMarkets.

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