Report
Eric Lemarie

Smart Home, renaissance de la domotique | initiation de couverture LEGRAND, SOMFY

SECTOR | Smart Industries | Smart Home, renaissance de la domotique

Concept des années 70, la domotique revient en force depuis l’avènement des smartphones et des enceintes connectées sous le terme générique « Maison Connectée » ou « Smart Home ». Mais si la domotique s’est révélée historiquement décevante, le marché de la Smart Home décolle en Europe et en Amérique du Nord : c50%/an (estim.) depuis 2014 et c30% attendu en volume sur la période 2018-2020, sur la base des données de Berg Insight. Des chiffres cohérents avec ceux des divisions produits connectés de Legrand et Somfy, qui ont généré respectivement une croissance de CA de 28%/an sur 2014-18 et de 25% (lfl) en 2018.
Underlyings
Legrand SA

Legrand is a global specialist in electrical and digital building infrastructure based in France. Co. offers a full range of control-and-command, cable management, energy distribution and "Voice-Data-Image" products and systems which are suitable for the international commercial, industrial, and residential segments of the low voltage market. Co. markets its products under internationally recognized general brand names, including Legrand and Bticino. Each product group is marketed in all of Co.'s major geographic markets (France, Italy, Rest of Europe, USA/Canada and Rest of the World).

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Eric Lemarie

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