Home Automation Market - Forecasts from 2019 to 2024
Home automation is used for controlling home appliances, equipments and reduce energy consumption. Global home automation market is projected to reach US$XX.XX billion by 2024 from US$XX.XX billion in 2018 with CAGR of XX.XX%.
Rapid mobile connectivity, rising awareness for low power consumption devices, technological advancement, change in consumer lifestyle, rising security concern and favourable government regulations are the major drivers of the home automation market. In addition, the growth in the IoT market and construction industry are fueling demand for the home automation market. However, lack of telecom infrastructure, improper standardization of products and higher cost of the home automation system are hindering the growth of this market. Phone-based app for home automation is the new trend of this market but higher initial installation cost is acting as a barrier in this market.
By geography, the home automation system is divided into North America, South America, Middle East and Africa, Europe and the Asia Pacific. North America is expected to see substantial growth during the forecast period. Technological advancement and consumer lifestyle are helping to adopt a more home automation system in this region. The rise in electricity prices, favourable government policy and the rapid growth of the real estate industry are helping to increase demand for home automation in the Asia-Pacific region.
This report consists of strategies taken by key industry players and recent development done by those companies. Key players operating in home automation market are Schneider Electric S.A, Legrand S.A., ABB Lt., Honeywell International Inc, Siemens AG, Johnson Controls International PLC, Control4 Corporation, AMX LLC, Ingersoll Rand PLC, Lutron Electronics Company., Savant and Crestron Electronics Inc., among others.
The Home Automation Market has been analyzed through the following segments:
Safety and security
By Network Technology
United States of America
Middle East and Africa
United Arab Emirates
Key insights offered
What will be the home automation market size from 2019 to 2025?
How are the major drivers and restraints affecting the home automation market?
Home automation market growth and the opportunities which exist for key vendors?
Which segment and region will lead the home automation market growth and why?
A comprehensive analysis of competitive landscape and key market participants’ behaviour in home automation.
Key strategies being adopted by vendors, with in-depth analysis along with their impact on competition and market growth for the home automation.
Schneider Electric S.A.
Honeywell International Inc.
Johnson Controls International PLC
Ingersoll Rand PLC
Lutron Electronics Company
Crestron Electronics Inc.