Home automation is a system with a network of hardware electronic interfaces communication that combines hardware and software which gives the user control over the devices & appliances inside the house premises. It is building automation, also referred to as a smart house or smart home. The devices are connected with each other through the internet and also can be managed via smartphone or tablet even from miles away.
According to study, “Global Home Automation Systems Market by System Component, Software Algorithm, Product, Service Type, Technology, and Region 2014-2025: Growth Opportunity and Business Strategy” the key companies operating in the global home automation system market are ABB Ltd., Control4 Corporation, Amx LLC (Harman), Johnson Controls, Inc., Crestron Electronics, Inc., Ingersoll-Rand PLC, Honeywell International Inc., Leviton Manufacturing Company, Inc., Legrand, Schneider Electric SE, Lutron, Zigbee Alliance, Savant Systems LLC., Siemens AG.
Based on the type, home automation system market is segmented into the luxury home automation system, managed home automation system, mainstream home automation system and DIY (Do It Yourself) home automation system. Based on the product, the market is segmented into security and access control, lighting control, entertainment control, HVAC control, and other controls. Security and access control include storage devices, security cameras, biometric access control (Iris recognition, facial recognition, and fingerprint recognition) and non-biometric control. Lighting controls include timers, relays, daylight sensors, switches, occupancy sensors, dimmers, and others. Entertainment controls include home theater system controls, audio, volume & multimedia controls and touchscreens & keypads. HVAC controls include sensors, smart thermostats, control valves, actuators, dampers, pumps & fans, smart vents, and heating & cooling coils. Additionally, other controls include smart locks, smart meters, smart detectors, smart hubs, and smart plugs. Based on software & algorithm, the market is segmented into proactive and behavioral. In addition, based on protocol and technologies, the market is segmented into protocol & standard, network technologies, and wireless communication technologies. Protocol & the standard includes National Electrical Manufacturers Association (NEMA), Digital Multiplexer (DMX), Building Automation and Control Network (BACnet), Digital Addressable Lighting Interface (DALI), KNX, black box, Lon-works, Modbus, Power Line Communication (PWC), Ethernet, and others. Network technologies include GSM/HSPA networks, CDMA networks, and LTE networks. Additionally, wireless communication technologies include Z-wave, Zigbee, WI-FI, Enocean, Bluetooth, and thread.
The home automation system market is driven by the rapid proliferation of smartphones & smart gadgets, followed by growth in the Internet of Things (IoT), cost reduction measures enabled by home automation systems, increase in importance of home monitoring from remote locations and a large number of manufacturers expanding their product portfolios. However, the risk of device malfunctioning and market is more convenience-driven than necessity-driven may impact the market. Moreover, favorable government regulations in several countries and lighting controllers to incorporate in-built data connectivity technology are key opportunities for the market.
Based on geography, the North-American region holds a significant share in the home automation system market owing to a huge user base along with the presence of a majority of key players in the market. Whereas, the Asian-pacific region and European regions are projected to witness higher CAGR due to the rise in income level of the consumers of end users along with the incentive taken by the government eventually promoting market over the forecast period. In near future, it is predicted that the market will be reached at a rapid pace on an account of the increase in shift of customer focus from traditional houses to smart homes coupled with a change in luxurious and elegant lifestyle during the forecast period.
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