PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1399765
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1399765
According to SPER Market Research, 'Europe Home Automation Market Size- By Product Type, By Technology, By Software & Service- Regional Outlook, Competitive Strategies and Segment Forecast to 2033' state that the Europe Home Automation Market is predicted to reach USD 24.92 billion by 2033 with a CAGR of 18.7%.
The market for goods and services associated with home automation, which entails using technology to automate and remotely control a variety of household functions like lighting, security, entertainment, temperature, and appliances, is known as the "home automation market." The home automation industry is characterized by a broad ecosystem of participants, including technology firms, producers of consumer goods, home security firms, energy management firms, and service providers.
Furthermore, major European smart home companies were forced to sit down and reassess their strategies due to COVID-19, which resulted in production halts and sharp drops in sales. Numerous factors, such as postponing the introduction of models and projects, stabilising dealer networks, closely managing cash flow, and assessing investment portfolios, have an impact on the production and sales of smart home goods in the European smart home business.