Emergence of Smart Technology in Residential and Commercial Real Estate: Ken Research REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Introduction: The concept of building automation is not new. Companies selling high price real estate have included automation software for basic tasks in security and reception systems for commercial spaces since the early 2000’s. But given the rate of adoption of sensors and the level of growth of smart technology, there is an expectation that building automation will soon become one of the core components of the real estate and construction industry as automation and robots will cause a reduction in construction time, reduce the level of error in construction, reduce wastage as they will be programmed to optimize their resources available and finally will increase the value of the property Building Automation: With the home automation and smart home market expected to increase from USD 4.4 Billion in 2013 to USD 21 Billion in 2020, consumers are welcoming more technology into their lives. In fact, smart home technologies are now a desired feature sought out by families looking to purchase a house and for companies looking to establish a new office space. The increasing capacity of IoT devices is one of the major driving factors behind the implementation of technology based smart buildings. Real Estate Business Review estimates that about 10-40% of the devices implemented in IoT will be a part of building automation for commercial and residential purposes. Sensor deployment in the sector is likely to grow at a compound annual growth rate of 78.8 % between 2015 and 2020 to nearly 1.3 billion. Although the primary demand driver for IoT technology is the adoption of sensors for data collection and analytics, the main devices implemented will be wearable technology and smart appliances which are capable of being controlled by a single central device. Companies working with sensor technology have already begun offering wireless integration solutions for home automation including sensor systems for appliances, electronics and security systems. The growing adoption of sensor technology combined with artificial intelligence is leading to creation of robots which can work, or be programmed to work on construction at much faster speeds and with much better effectiveness than human labor and for smart home solutions which are capable of serving the occupants of the buildings for specific tasks. The integration of machines will lead to better made, more sophisticated buildings where HVAC (Heating, Ventilation and Air Conditioning) will become a standard feature. Improved security systems will be able to differentiate residents from strangers as well. Market Scenario: Statistics indicate the priority levels for individuals that are the upcoming customers for the real estate sector on preference of their homes: Safety is the highest motivating factor to purchase smart home tech. Nearly 68 % of homeowners want smart tech to become more energy efficient. Millennials desire smart tech to make their lives more convenient. Baby Boomers use smart tech to add value to their homes. Around 45 % of homeowners save money, thanks to home automation, averaging more than USD 1100 per year. The changing market paradigm is due to increased adoption of technology from the baby boomer generation indicating that even the elderly population believes in understanding the benefits offered to technology. The homeowners of the future which will belong to the millennial generation are comfortable with the integration of technology into their everyday life and the most important aspect being the automation factor which is believed to boost home value. Competition Scenario: Some of the key manufacturers involved in the market for smart technology solutions are Siemens AG, United Technologies Corporation, General Electric Company, Schneider Electric, Honeywell International, Inc., Ingersoll-Rand PLC, Johnson Controls, Inc., ABB Ltd., Legrand S.A. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. Opportunity: There is a clear opportunity for the upcoming building automation sector to make a growing contribution into real estate. The commercial and residential properties of the future will have a large amount of smart technology either already integrated or will have the capacity for integration of IoT. The implementation of this technology will likely be a standard in buildings in the upcoming 5 to 15 years with more adoption of IoT only speeding the process. This presents an opportunity for developers in growing economies that have a higher amount of individuals with disposable incomes to bring in the smart homes of the future as the technology is not commercial yet it has exclusivity and hence commands a premium for its level of sophistication. The added advantage of smart homes being poised to be worth over USD 4 Billion by 2020 will result growth of the smart home market for individual homes as well as for smart residential apartments coupled with sophisticated custom made offices. The introduction of AI into the building automation sector can lower costs and increase the customer value effectively generating higher profitability for the commercial and real estate sector. Key Factors Considered in the Report: Real Estate Market Research Reports Real Estate Industry Analysis Market Research Reports for Real Estate Real Estate Industry Research Report Real Estate Market Research Reports Consulting Real Estate Business Review Real Estate Industry Research and Market Reports To know more, click on the link below: https://www.kenresearch.com/manufacturing-and-construction/real-estate/SC-97-38.html Contact Us: Ken Research Ankur Gupta, Head Marketing & Communications sales@kenresearch.com +91-9015378249 Tags: Market Research Reports for Real Estate, Real Estate Business Review, Real Estate Industry Analysis, Real Estate Industry Research and Market Reports, Real Estate Industry Research Report, Real Estate Market Research Reports, Real Estate Market Research Reports Consulting