Home automation involves provision of advanced
digital technology and high end solutions for automated products. The
technology manages to deliver better efficiency and performance in every
household activity via the strong centralized control of the system. The home
automation system market environment mainly comprises of- interface
manufacturers, system integrators, and distributors.
The evolution of smart home automation
recently has offered numerous advantages, like system scalability and easy
extension, aesthetical benefits, integration of mobile devices, maximizing home
security, remote control of home functions, increased energy efficiency,
improved appliance functionality, and home management insights.
The industry research report titled, “Home
Automation Market Analysis By Component (Hardware, Software, Service), By
Application (Lighting, Security and Access Control, HVAC and Entertainment
Control), By Technology, By Region And Segment Forecast Till 2025” provides an extensive insight and
analysis of the Home Automation Market over the next seven years and acts as a
significant point of reference for operators or suppliers.
The home automation market is mainly split by
(a) technology basis; wherein showcasing of revenue, market share and growth
rate of each type is provided largely divided into Wired and Wireless and (b)
by component basis; wherein the revenue, market share and growth rate of each
type, are primarily segregated into Hardware, Software and Services and (c) by
applications basis; wherein focuses on the status and perception for major
applications, market share and growth rate for each application are present
including Lighting, HVAC, Entertainment Control and Security & Access
Control.
This global market involves the markets in
regions namely: North America, Europe, Asia Pacific, the Middle East, Africa
and Latin America, with revenue, market share and growth rate wherein the
leading market players include ABB Ltd., Electronic Control Corporation,
Crestron Electronics Inc., Honeywell International Inc., Ingersoll-Rand PLC.,
Johnson Controls, Legrand SA., Schneider Electric SE., Siemens AG., Leviton
Manufacturing Company Inc., and Lutron Electronics Co. Inc.
The global home automation system market had
registered a valuation of around USD 39.93 Billion in 2016 which has been
foreseen to further grow at a decent CAGR of 11.3% in the coming years. The
augmenting adoption across residential applications is expected to be the major
demand driver for the industry. Also, factors involving significant IoT market
growth, cost reduction in home automation systems, and convenience of remote
operations will help in bolstering expansion of the home automation system
market.
The hardware segment is projected to account
for a majority share and supersede the component market by 2025. Even, the
service segment is expected to witness a significant growth due to developing
adoption of the smart technology. Fast growing advances in home automation
systems as well as using of technologies (to add value to the provision of
urban services) have been witnessed as requiring authorization for sustainable
development of new methods which may involve integration of hardware, software,
and service ultimately leading to amelioration of the overall competitiveness
of the industry.
Even, upsurge in the adoption of such devices
or systems in applications like lighting, HVAC & energy management,
security, entertainment, and smart kitchen is undoubtedly projected to help the
industry develop. This augmentation mainly owes to the ever increasing
preferences of consumers for connectivity, convenience, safety, and security.
Moreover, there has been presence of a large number of manufacturers in the
industry which are extending their product portfolios, and the evolving
importance of home monitoring from remote locations is also forecasted to drive
the market globally.
Geographically, North America is anticipated
to be the major regional segment in the years to proceed, owing to
well-established manufacturers and a large consumer base. The region has
accounted for the largest revenue share and is further expected to grow at a
CAGR of more than 8% from 2018 to 2025. The North American, European, and Asia
Pacific regions are projected to maintain their positions and be the key
revenue generating segments of this industry. The Asia Pacific region is
currently experiencing a healthy growth in disposable income due to
macroeconomic stimulus, which is further expected to drive market growth in
future. Also, the market in Europe is anticipated to be promising enough for
the global growth because of the increasing investments in infrastructure to
improve the standards of living.
The main reason that will boost the industry
such that it relishes success in future is- the burgeoning consumer awareness
for energy efficient products, urbanization, and relatively changing lifestyles
with enhanced convenience, safety and security which will altogether have an
affirmative impact on the industry. Furthermore, the amplifying demand for
features like the convenience of remote operation and exceptional experience
offered by smart home automation is highly likely to propel the global market
growth in the coming years. Innovative technologies, such as voice controlled
smart home devices and growing geriatric population base will be the key
factors that lead to great revenue generation by the global industry
cumulatively as the years roll by.
Also, with the passage of time; growing
penetration of Internet of Things which helps in the move to direct digital
controls for better machine to machine communication is expected to spur the market
growth by encouraging more and more users to adopt for smart home automation
technology.
Key topics
covered in the report:
Global Home Automation Market Research Report
Global Smart Home Automation Industry Future
Outlook
Home Automation System Global Market Trends
Global Home Automation Market Innovation
Trends
Home Automation Global Market revenue
Asia Pacific Home Automation Market
Europe Home Automation Market
North America Home Automation Market
China Home Automation Market Future Outlook
Japan Home Automation Market Future Outlook
US Home Automation Market Future Outlook
Global Home Automation Smart Technologies
Market Insights
Global Home Automation Services Future
Projections
Global Building Automation and Control Systems
Industry Demand
Smart Offices in Global Home Automation
Industry
Global Home Automation Major Market Service
Providers
Home Automation Global Industry Upcoming
Advancements
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