PUBLISHER: Lucintel | PRODUCT CODE: 1079257
PUBLISHER: Lucintel | PRODUCT CODE: 1079257
Home Automation Market Trends and Forecast
The future of the home automation market looks attractive with opportunities in the residential sector. The global home automation market is expected to reach an estimated $101.1 billion by 2027 with a CAGR of 10% from 2021 to 2027. The major growth drivers for this market are increasing consumer need for simplicity of functioning and personalized experience, increasing awareness related to safety and security, and the growing adoption of cloud-based technologies.
Emerging Trends in the Home Automation Market
Emerging trends, which have a direct impact on the dynamics of the industry, include growing demand for IoT technology in the home automation system, development of video enabled drones and constant developments in security technology products such as smart cameras and various sensors and detectors.
A total of 73 figures / charts and 85 tables are provided in this 157-page report to help in your business decisions. Sample figures with insights are shown below. To learn the scope of benefits, companies researched, and other details of the home automation market report.
Home Automation Market by Segment
By Application[$M shipment analysis from 2016 to 2027]:
By Installation Type[$M shipment analysis from 2016 to 2027]:
By Technology[$M shipment analysis from 2016 to 2027]:
BACnet
Lonworks
DALI
Modbus
KNX
Others
Zigbee
Wi-Fi
Bluetooth
EnOcean
Z-Wave
Others
By Region [$M shipment analysis for 2016 - 2027]:
United States
Canada
Mexico
United Kingdom
Germany
France
Japan
China
South Korea
India
List of Home Automation Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies home automation companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the home automation companies profiled in this report includes.
Home Automation Market Insight
Features of Home Automation Market
FAQ
Q1. What is the home automation market size?
Answer:The global home automation market is expected to reach an estimated $101.1 billion by 2027.
Q2. What is the growth forecast for home automation market?
Answer:The home automation market is expected to grow at a CAGR of 10% from 2021 to 2027.
Q3. What are the major drivers influencing the growth of the home automation market?
Answer: The major drivers for this market are increasing consumer need for simplicity of functioning and personalized experience, increasing awareness related to safety and security, and the growing adoption of cloud-based technologies.
Q4. What are the major applications or end use industries for home automation?
Answer:Safety and security market is expected to remain the largest segment due to the increasing need for continuous monitoring services to reduce the risk of crime, burglary, and theft.
Q5. What are the emerging trends in home automation market?
Answer:Emerging trends, which have a direct impact on the dynamics of the industry, include growing demand for IoT technology in the home automation system, development of video enabled drones and constant developments in security technology products such as smart cameras and various sensors and detectors.
Q6. Who are the key home automation companies?
Answer:Some of the key home automation companies are as follows:
Q7. Which home automation installation type segment will be the largest in future?
Answer: Lucintel forecasts that managed service is expected to remain the largest installation type segment due to the increasing demand for 24/7 monitoring service.
Q8 : In home automation market, which region is expected to be the largest in next 5 years?
Answer:North America is expected to remain the largest region and Asia-Pacific witness the highest growth over next 5 years.
Q9. Do we receive customization in this report?
Answer:Yes, Lucintel provides 10% Customization Without any Additional Cost.