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Market Research Report
Product code
1059575
Home Automation Market by Application (Lighting, Safety & Security, HVAC, Entertainment, and Others), Technology (Wired and Wireless) and End User (Residential and Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2030 |
Home Automation Market by Application (Lighting, Safety & Security, HVAC, Entertainment, and Others), Technology (Wired and Wireless) and End User (Residential and Commercial): Global Opportunity Analysis and Industry Forecast, 2021-2030 |
Published: December 22, 2021
Allied Market Research
Content info: 250 Pages
Delivery time: 2-3 business days
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The home automation market was valued at $46,607.1 million in 2020, and is expected to reach $239,897.8 million by 2030, registering a CAGR of 17.6% from 2021 to 2030. The home automation market is currently in its initial stage; however, it is expected to grow at a considerable rate in the years to come. This is attributed to rapid technological advancements in Internet of Things and artificial intelligence.
Home automation, also known as smart home automation, is an automation system, which offers access to control appliances and devices such as lights, fan, alarm system, heating & cooling systems, and electrical outlets with a smartphone. In addition, this system can be used for sprinkler systems and other remotely controllable networks. In this system, the primary focus is on home security, surveillance, and safety, including smart lock systems for doors & windows, smoke detectors, fire alarms, surveillance cameras, and other sensors. The key components of home automation consist of classic control unit and user-friendly app interface, which controls other smart appliances and devices via a tablet or smartphone.
The need for energy-efficient solutions and rise in demand for safety & security for homes are the major factors expected to boost the demand for home automation. In addition, rise in disposable income and increase in government initiatives for development of smart cities are anticipated to significantly contribute toward the growth of the home automation market during the forecast period. Although the installation cost is high, benefits offered by these highly energy-efficient systems such as enhanced safety & security and low energy consumption propel the growth of the market.
The home automation market is segmented on the basis of, application, technology end user and region. By application, the market is segregated into lighting, safety & security, HVAC, entertainment and others. On the basis of technology, the market is divided into wired and wireless. On the basis of end user, the market is divided into residential and commercial. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competition analysis
The major players profiled in the home automation market include ABB, ADT, Creston Electronics, Inc., Honeywell International Inc., Ingresoll Rand, Johnson Controls, Larsen & Toubro Ltd., Legrand, Samsung Electronics Co., Ltd. and Schneider Electric. Major companies in the market have adopted product launch, business expansion and acquisition as their key developmental strategies to offer better products and services to customers in the home automation market.
By Application
By Technology
By End User
By Region