Connected and Smart Home market will reach €620 million in Europe by 2015

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According a BSRIA study, the Connected and Smart Home product market grew by almost 19% in the period 2010-2012 to reach just over €510 million and is estimated to grow by 8% in average each year until 2015.

The current Connected & Smart home market still remains a niche high-end market, with penetration in light commercial applications growing since 2010. Residential consumer awareness has been increasing across Europe, not least due to the widening popularity of smart phones/tablets and their role as possible user interfaces (via apps) in smart home solutions. Nevertheless, BSRIA believes that in austere times across Europe, the high cost of the smart home solution prevents these solutions from reaching the mass market.

Lighting controls are the main application. Environmental controls became the second largest application in Europe, as customers have been increasingly worried about their energy bills and to prevent wasting energy. Consumer electronics and smart appliances (11% and 2% respectively) also featured within the study regarding home market applications.

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