Expected growth in the construction of villas, growing awareness and increasing acceptance of automation technology coupled with declining prices are some of the major factors driving the overall growth of smart homes market in UAE. In the UAE smart homes market, home energy management system segment accounted for majority of the market revenues owing to high pricing and installation of HVAC systems across the residential sector followed by the physical security system segment.
According to 6Wresearch, the UAE smart homes market is expected to grow at a CAGR of 14.8% during 2016-22. Growing construction of villas in UAE has fuelled the growth of smart homes market in the country. Abu Dhabi, Al-Ain Emirate and Dubai Emirate have accounted for the largest revenue share in the overall market. During the forecast period, Dubai Emirate region is forecast to grow at relatively higher CAGR on the back of government initiatives to build smart city in the region.
The report thoroughly covers the market of smart homes by segments and by regions. The report provides unbiased and detailed analysis of the on-going trends, opportunities/ high growth areas and market drivers which would help stakeholders to device and align market strategies according to the current and future market dynamics.
Media Courtesy : Open PR