The smart homes market is expected to grow to $58.68 billion by 2020, at an estimated CAGR of 17% from 2015 to 2020. There has been a significant growth in the global market due to the demand for energy efficient solutions and enhanced home security. Today, fundamental trends have emerged to drive the acceptance of smart homes, the aging population is increasing the demand for new services in homes; the increased penetration of portable devices has led to a dramatic increase in digital access technologies, which is also a major enabler for smart home applications; and there is a strong push by a wide range of leading players, such as telecom and utility service providers, and appliance manufacturers providing smart home devices.
