UAE Smart Homes Market is one of the Fastest Growing Market in the GCC Region in 2015
UAE is one of the leading markets for smart home systems in GCC region. Although, UAE market registered a slow growth during 2013-2015 owing to the decline in residential sector construction market coupled with the low FDI inflow. However, on account of growing awareness and increasing acceptance of automation technology, UAE market is expected to exhibit a major deployment of smart homes systems in the country.
According to 6Wresearch, UAE Smart Homes Market is expected to grow at a CAGR of 14.8% from 2016 to 2022. During 2010-15, physical security system segment has witnessed largest number of installations in the country; however, energy management system segment captured major share of the market revenue pie. The key reason for the increasing revenue from the energy management system segment is the high prices of the HVAC and automation systems.
According to Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch, "Smart homes technology is being deployed majorly in new construction only, however physical security systems can be installed in the retrofit segment as well."
He further added, "In UAE energy management systems are more preferred apart from security systems. Lighting control and temperature controllers generates maximum demand in the country"
According to Shefali Goel, Research Analyst, Research and Consulting, 6Wresearch, "Amongst all regions, Dubai Emirate contributes a major share in the market revenue due to increasing acceptance of automation technology and construction of modern villas.
However, during 2010-14, Abu Dhabi Emirate was the leading region in UAE owing to the high construction of villas," Shefali Concluded.
Some of the leading players in UAE smart home market includes- ABB, Crestron, Control4, Legrand, Honeywell and Siemens.
"UAE Smart Homes Market (2016-2022)" provides in-depth analysis with 41 figures and tables covered in more than 75 pages. The report estimates and forecast overall UAE Smart Homes market by revenue, by segments such as physical security system, energy management system, blinds management systems and other home automation systems, and by region. The report also gives the insights on competitive landscape, market share by companies, companies benchmarking, company profiles, market drivers and restraints.
Media Source: Open PR