Market Research Report
Home Automation and Controls Market By Type, Technology, and Application : Global Opportunity Analysis and Industry Forecast, 2021-2028
|Home Automation and Controls Market By Type, Technology, and Application : Global Opportunity Analysis and Industry Forecast, 2021-2028|
Published: May 25, 2021
Allied Market Research
Content info: 267 Pages
Delivery time: 2-3 business days
The global home automation and controls market size was valued at $52.03 billion in 2019, and is expected to reach $104.52 billion by 2028 growing at a CAGR of 10.70% from 2021 to 2028.
Home automation system refers to automatic and electronic control of household features, activity, and appliances. In addition, home automation is a network of hardware, communication, and electronic interfaces, which work to integrate smart devices with one another via Internet. Every device has sensors and is connected through Wi-Fi, so anyone can manage them from a smartphone or tablet. This allows to turn on lights, lock doors, or even turn down heat remotely. Home automation and controls system is an automatic centralized control system. This system finds application in heating, ventilation, & air conditioning; lighting; and security & access control. Increase in demand for energy efficiency and maintenance of secure & safe environment with enhanced user convenience in various industry verticals boost the market growth.
The prominent factors that drive the growth of the home automation and controls market include growth in deployment of home automation devices, high adoption of wireless technologies, need for energy-efficient solutions, and government initiatives. However, lack of interoperability between smart devices hampers growth of the home automation and controls market. Conversely, high development of smart city projects in Asia-Pacific is expected to create lucrative opportunities for the home automation and controls industry.
The global home automation and controls market is segmented on the basis of type, technology, application, and region. On the basis of type, the market is divided into home automation system, mainstream home automation system, and managed home automation system. By technology, it is divided into wired home automation systems, wireless home automation systems, power line home automation systems, and computing network home automation systems. Depending on application, it is classified into lighting, HVAC, entertainment, safety & security, and others.
Region-wise, the home automation and controls market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, Italy, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). The analysis identified that North America contributed for the maximum revenue in 2019. Factors, such as increase in adoption of smart devices and high adoption of wireless technologies provide several growth opportunities for the home automation and controls market.
The companies operating in the global building automation and controls market are 2GIG Technologies (U.S.), ABB Ltd (Switzerland), ADT Inc. (U.S.), AMX LLC (U.S.), Control4 Corporation (U.S.), Honeywell International Inc. (U.S.), Johnson Controls International PLC (Ireland), Legrand Group (France), Leviton Manufacturing Co. (U.S.), Inc., and Siemens AG (Germany). Market players have adopted various strategies, such as product launch, collaboration, partnership, agreement, business expansion, and acquisition to expand their foothold in the home automation and controls market.