Market Research Report
Home Automation Market: Trends, Opportunities and Competitive Analysis
|Home Automation Market: Trends, Opportunities and Competitive Analysis|
Published: March 1, 2022
Content info: 157 Pages
Delivery time: 3 business days
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 $101.1 billion by 2027 with a CAGR of 10% from 2021 to 2027. The major growth drivers for this market are increasing consumer need for simplicity of functioning and personalized experience, increasing awareness related to safety and security, and the growing adoption of cloud-based technologies.
Emerging trends, which have a direct impact on the dynamics of the industry, include growing demand for IoT technology in the home automation system, development of video enabled drones and constant developments in security technology products such as smart cameras and various sensors and detectors.
A total of 73 figures / charts and 85 tables are provided in this 157-page report to help in your business decisions. Sample figures with insights are shown below. To learn the scope of benefits, companies researched, and other details of the home automation market report, please download the report brochure.
In this market, safety and security is the largest end use industry, whereas wireless is the largest market by technology. Growth in various segments of the home automation market is given below:
By Application [$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]:
By Region [$M shipment analysis for 2016 - 2027]:
Some of the home automation companies profiled in this report include ADT Corporation, Control4 Corporation, United Technologies Corporation, Honeywell, Johnson Control, Siemens AG, Acuity Brands, AMX Inc., Monitronics International, and Vivint Inc.
Lucintel forecasts that the 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. The entertainment segment is expected to experience the highest growth rate during the forecast period, supported by the increasing need of advanced technology to provide single platform for high level of control, flexibility, and to deliver the best entertainment experience.
Managed service is expected to remain the largest installation type segment due to the increasing demand for 24/7 monitoring service. Lucintel predicts that the mainstream segment is expected to experience the highest growth rate during the forecast period, supported by its easy configuration and less installation cost.
North America is expected to remain the largest region during the forecast period due to the increasing usage of technologies and digitalization in the US and Canada. Asia Pacific is expected to witness the highest growth over the forecast period because of increasing awareness on safety, security, and energy efficiency.
Features of the Home Automation Market