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Global Home Automation Market is expected to witness a CAGR of 11.9% Over the Forecast Period (2020-2028).
Automation plays a progressively vital role within the global economy and during a daily enterprise. Several roles for humans in industrial processes presently lie beyond the scope of automation. Home Automation System is becoming more advanced and standard day by day.
Intelligent living areas are preferable with home automation systems that not only offer convenience, security, and comfort however, in addition, reducing their efforts but also give energy-saving methods. The demand for appliance monitoring systems is increasing rapidly day by day and promise to be a possible market trend within the coming future.
Home automation is the utilization of intelligent terminals, which is an automation system to regulate home appliances and equipment. Rise in awareness for technological advancements efficient energy usage, and rise in electricity prices are expected to drive the house automation market growth. Furthermore, an increase in safety & security concerns fueled the adoption of home automation system market
By Application, Lighting Control is expected to Account for Major Share of Global Home Automation Market
The lighting control market is predicted to grow at the very best CAGR during the forecast period. The market for lighting control is expected to grow at an improved rate because it decreases the electricity consumption in homes because the sensors adjust the strength of artificial light consistent with the intensity of natural light. Moreover, the growing environmental concerns have helped spread awareness regarding the importance of home automation and residential energy management measures. As a result of this scenario, lighting controllers now play an essential role in reducing the electricity consumption within the household, alongside offer comfort to the consumers.
By Technology, Wireless is expected to Expand at the Highest CAGR in the Global Home Automation Market.
A wireless network approach to this communication and management provides an easy, cost-efficient and scalable solution to home automation. Home automation systems provide mutual ability between varied electronic, electrical, and power devices further as an interactive interface for people to manage their operation. Wiring complicates the implementation of the home automation in buildings that are already designed, especially in existent ones. Several progressive wireless communication standards were formed and implemented throughout the last decade. GSM and Bluetooth are accepted by the bulk within the fashionable society.
North America and Europe Occupied a Significant Market Size in 2018.
Geographically, it's North America that forms one of the most marketplaces for the Home Automation market globally with the U.S., Canada, and Mexico being a variety of the most regions that are contributing to the expansion during this market. Features like the enhanced home security levels, growing demand for reliable home energy management systems, the increasing popularity of integration of smart devices like tablets and smartphones in home automation solutions are driving the expansion of the market during this region. Furthermore, this region is additionally home to a number of the key players within the global home automation market, like Acuity Brands, Inc. (U.S.) ADT Corporation (U.S.), Control4 Corporation (U.S.), among others. The APAC home automation market provides high line market income and production at the country level which includes Japan, China, India, and the Rest of Asia Pacific.
Some of the key players in the home automation market are ABB Ltd., Honeywell International Inc., Johnson Controls, Inc., United Technologies Corporation, Crestron Electronics, Inc., Control4 Corporation, Siemens AG, Lutron Electronics Co., Inc, Schneider Electric SE, Ingersoll-Rand plc, Savant Systems LLC, ADT LLC, Legrand SA, Google Inc., AMX LLC, Amazon Inc., 2GIG Technologies, and SmartThings Inc. Many of the important strategies adopted by key players in the global home automation market are acquisitions, new product launches, collaborations, partnerships, agreements. The report provides in-depth analysis about the strategic business activities along with the market dynamics shaping the global home automation market through the period of study.
- Tags & Reader
- Imaging Systems
- Communications and Measurement Systems
- Vehicular Radar Systems
By End User
- Automotive and transportation
- North America
- Asia- Pacific
- Middle East and Africa
- Latin America