A research report conducted by Berg Insight revealed that automated smart homes will make up a US$9.5 Billion dollar market.
According to the report, the number of automated home installations was 0.44 million in 2010. But with more economical and cost efficient technologies becoming widely popular, the industry's compound annual growth rate (CAGR) is 65%. By 2015, the number of automated smart houses is estimated to reach 5.38 million.
With peaking interest and sales, revenues will also hike from US$2.3 Billion in 2010 to US$9.5 Billion by 2015.
Although smart house technology has been around for decades, it was a niche dedicated to the affluent or technophiles.
"Things are changing for this industry due to a perfect confluence of market, regulatory, strategic and technology trends" lead analyst Alan A. Varghese said.
"First is the pull from consumers in the mobile age, who desire to use products such as iPhones and iPads to control their lifestyles through user-friendly interfacesâ€¦The technology piece is coming together with increasing focus on interoperability, even as the cost of modules, chipsets, and software is trending down"