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| A00188 | Pages: 169 | Jun 2017 | 36835 Views | | |
| Author(s) : Preksha Verma | Tables: 61 | Charts: 52 |
| |
Pandemic disrupted the entire world and affected many industries.
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Request Now !Global Home Automation Market size was valued at $39,607 million in 2016, and is projected to reach at $81,645 million by 2023, growing at a CAGR of 11.2% from 2017 to 2023. Home automation is utilization of intelligent terminals, which is automation system to control home appliances and equipment. Increase in awareness for efficient energy usage, rise in electricity prices, and technological advancements are expected to drive the home automation market growth. Moreover, increase in safety & security concerns fueled the adoption of home automation system, thus boosting the market growth.
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However, lack of awareness about home automation products and high initial investments in home automation are expected to hamper the home automation market growth. Increase in adoption of automated services is expected to provide lucrative opportunities for the global home automation market.
The report segments the global home automation market on the basis of application, type, technology, and region. Applications covered in the study includes lighting, safety & security, heating, ventilation, and air conditioning (HVAC), entertainment, and others. On the basis of technology, the home automation market is bifurcated into wired and wireless technology. By type, the home automation market, is classified into luxury, do it yourself (DIY), mainstream, and managed services. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Safety & security systems accounted for a dominant share of the market in 2016, and are expected to grow at a CAGR of 11.8% during the forecast period. The wireless technology was the dominant segment for home automation market accounting for about 53% in 2016.
The key players profiled in the home automation market are ABB Ltd., AMX LLC. (Harman), Control4 Corporation, Crestron Electronics, Inc., Honeywell International Inc., Johnson Controls Inc., Savant Systems LLC., Siemens AG, Vantage Controls (Legrand), and Zigbee alliance.
Top Impacting Factors
The factors that impact the global home automation market include development of innovative & energy efficient automated systems, growth in IoT market, increase in importance of home monitoring from remote locations, rise in consumer awareness related to availability of smart home devices such as automated security & lighting systems, and stringent government regulations. The adoption of home automation systems is increasing, owing to development of the construction industry and increase in demand for energy efficiency in smart homes & buildings. The home automation industry is dominated by remote control solutions, as mobile apps and other advanced solutions are expensive in the developing regions and lack of standardization are expected to hamper the home automation market growth.
Top Impacting Factors of Home Automation Market
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Increase in Electricity Prices
The growth in electricity prices globally have increased the operating budget for house owners. The residential buildings and hospitality industries are major end users of the home automation market. The increasing prices of commodities, such as coal, significantly enhances the cost for generating electricity and in turn increases the end-user electricity cost. The adoption of home automation helps end users in regulating their usage, thereby decreasing their electricity expenditure. The home automation controls provide economical usage of electricity and further reduce the energy consumption in lighting, security, and HVAC systems.
Government Regulations
Stringent regulations are implemented by regulatory bodies to effectively utilize and manage electricity consumption. Different regulations as imposed by the respective authorities include China’s five-year plan targets for energy efficiency projects and European 2020 energy targets to reach net-zero energy consumption in public and private buildings. These regulations are anticipated to boost the growth in adoption of smart automated controls during the forecast period.
Increase In Awareness Among Consumers
The home & building owners are becoming more aware of effectiveness of automated controls in their premises.
Intelligent lighting controls, automated HVAC controls, and security systems provide efficient utilization of home controls with reduced consumption of electricity. Buildings owners are focusing on green initiatives to minimize the overall CO2 emissions. The increasing awareness is one of the important factors that boost the adoption of automated controls globally.
Technological Advancements
Advancements in technologies and improved connectivity solutions have increased the adoption of home automation controls globally. With the advent of various wireless technologies such as ZigBee and Bluetooth, installation of automated control systems has been simplified. Different standards for home automated controls such as EnOcean and Z-wave have increased the adaptability of different components with each other. Further advancements of these automation systems are expected to fuel their adoption across different end-user segments.
Longer Payback Period
High installation cost for home automation systems increases the payback period, thus limiting the adoption of these controls in many regions. Decline in prices of components, such as controlled devices, sensors, and interface devices, during the forecast period is expected to eventually reduce the payback time, thereby leading to a higher adoption in the near future.
CHAPTER 1 INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top impacting factors
3.2.2. Top winning strategies
3.2.3. Top investment pocket
3.3. PORTERS FIVE FORCES ANALYSIS
3.3.1. Moderate bargaining power of suppliers
3.3.2. High bargaining power of buyers
3.3.3. Low threat of substitution
3.3.4. Moderate threat of new entrants
3.3.5. High competitive rivalry
3.4. MARKET DYNAMICS
3.4.1. Drivers
3.4.1.1. Increasing energy cost
3.4.1.2. Government regulations for energy usage and CO2 emission
3.4.1.3. Increasing awareness for efficient energy usage among consumers
3.4.1.4. Technological advancements
3.4.1.5. Safety and security
3.4.2. Restraints
3.4.2.1. Lack of awareness
3.4.2.2. High initial investment
3.4.3. Opportunities
3.4.3.1. Increasing adoption of automated services
CHAPTER 4 HOME AUTOMATION MARKET, BY APPLICATION
4.1. OVERVIEW
4.1.1. Market size and forecast
4.2. LIGHTING
4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast
4.3. SECURITY & SAFETY
4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast
4.4. HVAC
4.4.1. Key market trends
4.4.2. Key growth factors and opportunities
4.4.3. Market size and forecast
4.5. ENTERTAINMENT
4.5.1. Key market trends
4.5.2. Key growth factors and opportunities
4.5.3. Market size and forecast
4.6. OTHERS
4.6.1. Key market trends
4.6.2. Key growth factors and opportunities
4.6.3. Market size and forecast
CHAPTER 5 HOME AUTOMATION MARKET, BY TECHNOLOGY
5.1. OVERVIEW
5.1.1. Market size and forecast
5.2. WIRED
5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast
5.2.3.1. Building automation and control network (BACnet)
5.2.3.2. Power Line Communication (PLC)
5.3. WIRELESS
5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast
5.3.3.1. ZigBee
5.3.3.2. EnOcean
5.3.3.3. Bluetooth
CHAPTER 6 HOME AUTOMATION MARKET, BY TYPE
6.1. OVERVIEW
6.1.1. Market size and forecast
6.2. LUXURY HOME AUTOMATION
6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast
6.3. DIY HOME AUTOMATION
6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast
6.4. MANAGED HOME AUTOMATION
6.4.1. Key market trends
6.4.2. Key growth factors and opportunities
6.4.3. Market size and forecast
6.5. MAINSTREAM HOME AUTOMATION
6.5.1. Key market trends
6.5.2. Key growth factors and opportunities
6.5.3. Market size and forecast
CHAPTER 7 HOME AUTOMATION MARKET, BY REGION
7.1. OVERVIEW
7.1.1. Market size and forecast
7.2. NORTH AMERICA
7.2.1. Key market trends
7.2.2. Key growth factors and opportunities
7.2.3. Market size and forecast
7.2.3.1. U.S.
7.2.3.2. Canada
7.2.3.3. Mexico
7.3. EUROPE
7.3.1. Key market trends
7.3.2. Key growth factors and opportunities
7.3.3. Market size and forecast
7.3.3.1. UK
7.3.3.2. Germany
7.3.3.3. France
7.3.3.4. Italy
7.3.3.5. Rest of Europe
7.4. ASIA-PACIFIC
7.4.1. Key market trends
7.4.2. Key growth factors and opportunities
7.4.3. Market size and forecast
7.4.3.1. China
7.4.3.2. India
7.4.3.3. Japan
7.4.3.4. Australia
7.4.3.5. Rest of Asia-Pacific
7.5. LAMEA
7.5.1. Key market trends
7.5.2. Key growth factors and opportunities
7.5.3. Market size and forecast
7.5.3.1. Latin America
7.5.3.2. Middle-East
7.5.3.3. Africa
CHAPTER 8 COMPANY PROFILES
8.1. CRESTRON ELECTRONICS INC.
8.1.1. Company overview
8.1.2. Operating business segments
8.1.3. Business performance
8.1.4. Key strategic moves and developments
8.2. AMX LLC (HARMAN)
8.2.1. Company overview
8.2.2. Operating business segments
8.2.3. Business performance
8.2.4. Key strategic moves and developments
8.3. CONTROL4 CORPORATION
8.3.1. Company overview
8.3.2. Operating business segments
8.3.3. Business performance
8.3.4. Key strategic moves and developments
8.4. HONEYWELL INTERNATIONAL INC
8.4.1. Company overview
8.4.2. Operating business segments
8.4.3. Business performance
8.4.4. Key strategic moves and developments
8.5. JOHNSON CONTROLS INC.
8.5.1. Company overview
8.5.2. Operating business segments
8.5.3. Business performance
8.5.4. Key strategic moves and developments
8.6. SIEMENS AG
8.6.1. Company overview
8.6.2. Operating business segments
8.6.3. Business performance
8.6.4. Key strategic moves and developments
8.7. ZIGBEE ALLIANCE
8.7.1. Company overview
8.7.2. Operating business segments
8.7.3. Business performance
8.7.4. Key strategic moves and developments
8.8. VANTAGE CONTROLS (LEGRAND)
8.8.1. Company overview
8.8.2. Operating business segments
8.8.3. Business performance
8.8.4. Key strategic moves and developments
8.9. SAVANT SYSTEMS LLC.
8.9.1. Company overview
8.9.2. Operating business segments
8.9.3. Business performance
8.9.4. Key strategic moves and developments
8.10. ABB
8.10.1. Company overview
8.10.2. Operating business segments
8.10.3. Business performance
8.10.4. Key strategic moves and developments
LIST OF TABLES
TABLE 1. GLOBAL HOME AUTOMATION MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 2. HOME AUTOMATION MARKET: LIGHTING SEGMENT, BY REGION, 2016-2023 ($MILLION)
TABLE 3. HOME AUTOMATION MARKET: SECURITY & SAFETY SEGMENT, BY REGION, 2016-2023 ($MILLION)
TABLE 4. HOME AUTOMATION MARKET: HVAC SEGMENT, BY REGION, 2016-2023 ($MILLION)
TABLE 5. HOME AUTOMATION MARKET: ENTERTAINMENT SEGMENT, BY REGION, 2016-2023 ($MILLION)
TABLE 6. HOME AUTOMATION MARKET: OTHERS SEGMENT, BY REGION, 2016-2023 ($MILLION)
TABLE 7. GLOBAL HOME AUTOMATION MARKET REVENUE, BY TECHNOLOGY, 2016-2023 ($MILLION)
TABLE 8. HOME AUTOMATION MARKET REVENUE FOR WIRED TECHNOLOGY, BY REGION, 2016-2023 ($MILLION)
TABLE 9. HOME AUTOMATION MARKET REVENUE FOR WIRELESS TECHNOLOGY, BY REGION, 2016-2023 ($MILLION)
TABLE 10. GLOBAL HOME AUTOMATION MARKET REVENUE, BY TYPE, 2016-2023 ($MILLION)
TABLE 11. HOME AUTOMATION MARKET REVENUE FOR LUXURY AUTOMATION, BY REGION, 2016-2023 ($MILLION)
TABLE 12. HOME AUTOMATION MARKET REVENUE FOR DIY TECHNOLOGY, BY REGION, 2016-2023 ($MILLION)
TABLE 13. HOME AUTOMATION MARKET REVENUE FOR MANAGED TECHNOLOGY, BY REGION, 2016-2023 ($MILLION)
TABLE 14. HOME AUTOMATION MARKET REVENUE FOR MAINSTREAM TECHNOLOGY, BY REGION, 2016-2023 ($MILLION)
TABLE 15. HOME AUTOMATION MARKET, BY REGION, 2016-2022 ($MILLION)
TABLE 16. NORTH AMERICA HOME AUTOMATION MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 17. NORTH AMERICA HOME AUTOMATION MARKET REVENUE, BY TECHNOLOGY, 2016-2023 ($MILLION)
TABLE 18. NORTH AMERICA HOME AUTOMATION MARKET REVENUE, BY TYPE, 2016-2023 ($MILLION)
TABLE 19. NORTH AMERICA HOME AUTOMATION MARKET REVENUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 20. EUROPE HOME AUTOMATION MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 21. EUROPE HOME AUTOMATION MARKET REVENUE, BY TECHNOLOGY, 2016-2023 ($MILLION)
TABLE 22. EUROPE HOME AUTOMATION MARKET REVENUE, BY TYPE, 2016-2023 ($MILLION)
TABLE 23. EUROPE HOME AUTOMATION MARKET REVENUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 24. ASIA-PACIFIC HOME AUTOMATION MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 25. ASIA-PACIFIC HOME AUTOMATION MARKET REVENUE, BY TECHNOLOGY, 2016-2023 ($MILLION)
TABLE 26. ASIA-PACIFIC HOME AUTOMATION MARKET REVENUE, BY TYPE, 2016-2023 ($MILLION)
TABLE 27. ASIA-PACIFIC HOME AUTOMATION MARKET REVENUE, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 28. LAMEA HOME AUTOMATION MARKET REVENUE, BY APPLICATION, 2016-2023 ($MILLION)
TABLE 29. LAMEA HOME AUTOMATION MARKET REVENUE, BY TECHNOLOGY, 2016-2023 ($MILLION)
TABLE 30. LAMEA HOME AUTOMATION MARKET REVENUE, BY TYPE, 2016-2023 ($MILLION)
TABLE 31. LAMEA HOME AUTOMATION MARKET REVENUE, BY REGION, 2016-2023 ($MILLION)
TABLE 32. CRESTRON ELECTRONICS INC: COMPANY SNAPSHOT
TABLE 33. CRESTRON ELECTRONICS INC.: OPERATING SEGMENTS
TABLE 34. CRESTRON ELECTRONICS INC.: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 35. AMX LLC (HARMAN): COMPANY SNAPSHOT
TABLE 36. AMX LLC (HARMAN): OPERATING SEGMENTS
TABLE 37. AMX LLC (HARMAN): STRATEGIC MOVES AND DEVELOPMENTS
TABLE 38. CONTROL4 CORPORATION: COMPANY SNAPSHOT
TABLE 39. CONTROL4 CORPORATION: OPERATING SEGMENTS
TABLE 40. CONTROL4 CORPORATION: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 41. HONEYWELL INTERNATIONAL INC: COMPANY SNAPSHOT
TABLE 42. HONEYWELL INTERNATIONAL INC: OPERATING SEGMENTS
TABLE 43. HONEYWELL INTERNATIONAL INC: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 44. JOHNSON CONTROLS INC.: COMPANY SNAPSHOT
TABLE 45. JOHNSON CONTROLS INC.: OPERATING SEGMENTS
TABLE 46. JOHNSON CONTROLS INC.: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 47. SIEMENS AG: COMPANY SNAPSHOT
TABLE 48. SIEMENS AG: OPERATING SEGMENTS
TABLE 49. SIEMENS AG: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 50. ZIGBEE ALLIANCE: COMPANY SNAPSHOT
TABLE 51. ZIGBEE ALLIANCE: OPERATING SEGMENTS
TABLE 52. ZIGBEE ALLIANCE: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 53. VANTAGE CONTROLS (LEGRAND): COMPANY SNAPSHOT
TABLE 54. VANTAGE CONTROLS (LEGRAND): OPERATING SEGMENTS
TABLE 55. VANTAGE CONTROLS (LEGRAND): STRATEGIC MOVES AND DEVELOPMENTS
TABLE 56. SAVANT SYSTEMS LLC.: COMPANY SNAPSHOT
TABLE 57. SAVANT SYSTEMS LLC.: OPERATING SEGMENTS
TABLE 58. SAVANT SYSTEMS LLC.: STRATEGIC MOVES AND DEVELOPMENTS
TABLE 59. ABB: COMPANY SNAPSHOT
TABLE 60. ABB: OPERATING SEGMENTS
TABLE 61. ABB: STRATEGIC MOVES AND DEVELOPMENTS
LIST OF FIGURES
FIGURE 1. HOME AUTOMATION MARKET SEGMENTATION
FIGURE 2. TOP IMPACTING FACTORS OF HOME AUTOMATION MARKET
FIGURE 3. TOP WINNING STRATEGY ANALYSIS
FIGURE 4. TOP WINNING STRATEGIES, BY COMPANY, 2013-2016 (%)
FIGURE 5. TOP INVESTMENT POCKETS
FIGURE 6. COMPARATIVE REGIONAL SHARE ANALYSIS OF LIGHTING MARKET, 2016 & 2023 (%)
FIGURE 7. GLOBAL HOME AUTOMATION MARKET: LIGHTING SEGMENT, BY REGION, 2016-2023($MILLION)
FIGURE 8. COMPARATIVE REGIONAL SHARE ANALYSIS OF SECURITY & SAFETY MARKET, 2016 & 2023 (%)
FIGURE 9. GLOBAL HOME AUTOMATION MARKET: SAFETY & SECURITY SEGMENT, BY REGION, 2016-2023($MILLION)
FIGURE 10. COMPARATIVE REGIONAL SHARE ANALYSIS OF HVAC MARKET, 2016 & 2023 (%)
FIGURE 11. GLOBAL HOME AUTOMATION MARKET: HVAC SEGMENT, BY REGION, 2016-2023($MILLION)
FIGURE 12. COMPARATIVE REGIONAL SHARE ANALYSIS OF ENTERTAINMENT MARKET, 2016 & 2023 (%)
FIGURE 13. GLOBAL HOME AUTOMATION MARKET: ENTERTAINMENT SEGMENT, BY REGION, 2016-2023($MILLION)
FIGURE 14. COMPARATIVE REGIONAL SHARE ANALYSIS OF OTHERS MARKET, 2016 & 2023 (%)
FIGURE 15. GLOBAL HOME AUTOMATION MARKET: OTHERS SEGMENT, BY REGION, 2016-2023($MILLION)
FIGURE 16. COMPARATIVE REGIONAL SHARE ANALYSIS OF WIRED TECHNOLOGY MARKET, 2016 & 2023 (%)
FIGURE 17. GLOBAL WIRED HOME AUTOMATION MARKET, 2016-2023($MILLION)
FIGURE 18. COMPARATIVE REGIONAL SHARE ANALYSIS OF WIRELESS TECHNOLOGY MARKET, 2016 & 2023 (%)
FIGURE 19. GLOBAL WIRELESS HOME AUTOMATION MARKET, 2016-2023($MILLION)
FIGURE 20. COMPARATIVE REGIONAL SHARE ANALYSIS OF LUXURY HOME AUTOMATION MARKET, 2016 & 2023 (%)
FIGURE 21. GLOBAL LUXURY HOME AUTOMATION MARKET, 2016-2023($MILLION)
FIGURE 22. COMPARATIVE REGIONAL SHARE ANALYSIS OF DIY HOME AUTOMATION MARKET, 2016 & 2023 (%)
FIGURE 23. GLOBAL DIY HOME AUTOMATION MARKET, 2016-2023($MILLION)
FIGURE 24. COMPARATIVE REGIONAL SHARE ANALYSIS OF MANAGED TECHNOLOGY MARKET, 2016 & 2023 (%)
FIGURE 25. GLOBAL MANAGED HOME AUTOMATION MARKET, 2016-2023($MILLION)
FIGURE 26. COMPARATIVE REGIONAL SHARE ANALYSIS OF MAINSTREAM TECHNOLOGY MARKET, 2016 & 2023 (%)
FIGURE 27. GLOBAL MAINSTREAM HOME AUTOMATION MARKET, 2016-2023($MILLION)
FIGURE 28. HOME AUTOMATION MARKET SHARE, BY REGION, 2016(%)
FIGURE 29. NORTH AMERICA HOME AUTOMATION MARKET REVENUE, BY COUNTRY & TECHNOLOGY, 2016-2023 ($MILLION)
FIGURE 30. EUROPE HOME AUTOMATION MARKET REVENUE, BY COUNTRY & TECHNOLOGY, 2016-2023 ($MILLION)
FIGURE 31. ASIA-PACIFIC HOME AUTOMATION MARKET REVENUE, BY COUNTRY & TECHNOLOGY, 2016-2023 ($MILLION)
FIGURE 32. LAMEA HOME AUTOMATION MARKET REVENUE, BY COUNTRY & TECHNOLOGY, 2016-2023 ($MILLION)
FIGURE 33. CRESTRON ELECTRONICS INC: REVENUE, 2014-2016 ($MILLION)
FIGURE 34. CRESTRON ELECTRONICS INC: REVENUE SHARE BY BUSINESS SEGMENT, 2016(% SHARE)
FIGURE 35. AMX LLC (HARMAN): REVENUE, 2014-2016 ($MILLION)
FIGURE 36. AMX LLC (HARMAN): REVENUE SHARE BY BUSINESS SEGMENT, 2016(% SHARE)
FIGURE 37. CONTROL4 CORPORATION: REVENUE, 2014-2016 ($MILLION)
FIGURE 38. CONTROL4 CORPORATION: REVENUE SHARE BY BUSINESS SEGMENT, 2016(% SHARE)
FIGURE 39. HONEYWELL INTERNATIONAL INC: REVENUE, 2014-2016 ($MILLION)
FIGURE 40. HONEYWELL INTERNATIONAL INC: REVENUE SHARE BY BUSINESS SEGMENT, 2016(% SHARE)
FIGURE 41. JOHNSON CONTROLS INC.: REVENUE, 2014-2016 ($MILLION)
FIGURE 42. JOHNSON CONTROLS INC.: REVENUE SHARE BY BUSINESS SEGMENT, 2016(% SHARE)
FIGURE 43. SIEMENS AG: REVENUE, 2014-2016 ($MILLION)
FIGURE 44. SIEMENS AG: REVENUE SHARE BY BUSINESS SEGMENT, 2016(% SHARE)
FIGURE 45. ZIGBEE ALLIANCE: REVENUE, 2014-2016 ($MILLION)
FIGURE 46. ZIGBEE ALLIANCE: REVENUE SHARE BY BUSINESS SEGMENT, 2016(% SHARE)
FIGURE 47. VANTAGE CONTROLS (LEGRAND): REVENUE, 2014-2016 ($MILLION)
FIGURE 48. VANTAGE CONTROLS (LEGRAND): REVENUE SHARE BY BUSINESS SEGMENT, 2016(% SHARE)
FIGURE 49. SAVANT SYSTEMS LLC.: REVENUE, 2014-2016 ($MILLION)
FIGURE 50. SAVANT SYSTEMS LLC.: REVENUE SHARE BY BUSINESS SEGMENT, 2016(% SHARE)
FIGURE 51. ABB: REVENUE, 2014-2016 ($MILLION)
FIGURE 52. ABB: REVENUE SHARE BY BUSINESS SEGMENT, 2016(% SHARE)
Home automation market is estimated to depict a significant growth during the forecast period, owing to the factors such as increase in energy costs, government regulations towards effective utilization and managing electricity consumption, and technological advancements. With the advent of various wireless technologies such as ZigBee, Z-wave, and Bluetooth, installation of home automation systems has been simplified. Advancements in technologies and improved connectivity solutions have increased the adoption of home automation systems globally, which is expected the fuel the home automation market growth.
Consumers are shifting from traditional & mechanical locks to automated security systems & smart locks due to an increase in awareness related to secure home solutions and growth in trend for IoT. Rise in household automation is expected to provide significant opportunities for the global home automation market growth. Companies are introducing products that are compatible with different standards of wireless connectivity, owing to increase in adoption of wireless technologies. Control Scope, a product from Daintree Networks, offers centralized control for lighting management, which results in a reduction of up to 70% in lighting costs. This is anticipated to improve the occupant’s comfort and enhance the visibility in building operations.
A. The home automation market size was valued at $39,607 million in 2016, and is projected to reach at $81,645 million by 2023, growing at a CAGR of 11.2% from 2017 to 2023.
A. Factors such as changing lifestyle, increasing spending power of people, and growing awareness about smart automated systems drive the adoption of home automation market.
A. The report sample for home automation market report can be obtained on demand from the website.
A. Product launch is the key growth strategies adopted by home automation market players.
A. Due to the fast expansion of the IoT, the next step in the technological development is anticipated to be the Internet of Everything.
A. Europe and North America region will provide more business opportunities for home automation market in coming years.
A. The statistical data of the top market players of home automation market can be obtained from the company profile section mentioned in the report. This section includes analysis of top ten player’s operating in the home automation industry.
A. The key players operating in the market include Crestron Electronics Inc., AMX LLC (Harman), Control4 Corporation, Honeywell International Inc., Johnson Controls Inc., Siemens AG, Zigbee alliance, Vantage Controls (Legrand), Savant Systems LLC, ABB.
A. According to the connectivity type used for home automation systems, the market is segmented into wired connectivity and wireless connectivity. The wireless connectivity solution contributes the maximum share.
A. The buyers of home automation market are the end-user consumers.
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