Home Automation Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Application, (Lighting, Safety And Security, Entertainment, HVAC, Others), By Network Technology (Wireless, Wired) And By Geography - Forecasts From 2019 To 2024
Published:  May 2020 Report Code: KSI061612395 Pages: 114

The home automation market was valued at US$62.471 billion in 2018 and is anticipated to grow at a CAGR of 11.86% to reach a market size of US$122.391 billion by 2024. Rapid mobile connectivity, rising awareness for low power consumption devices, technological advancement, change in consumer lifestyle, rising security concern, and favorable 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. The phone-based app for home automation is the new trend of this market but the higher initial installation cost is acting as a barrier in this market.

Geographically, North America is expected to see substantial growth during the forecast period. Technological advancement and consumer lifestyles are helping to adopt a more home automation system in this region. The rise in electricity prices, favorable government policy, and the rapid growth of the real estate industry are helping to increase demand for home automation in the Asia-Pacific region.

The Home Automation Market – Forecasts from 2019 to 2024 is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key markets, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by application, network technology, and geography.

The home automation market has been segmented based on application, network technology, and geography. Based on application, the market has been segmented into lighting, safety and security, access control, entertainment, HVAC, and others. On the basis of network technology, the market has been segmented into wired and wireless.

Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa (MEA), and the Asia Pacific regions. The report also analyzes 15 major countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.

Major players in the home automation market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the home automation market.

Segmentation:

  • By Application
    • Lighting
    • Safety and Security
    • Access control
    • Entertainment
    • HVAC
    • Others
  • By Network Technology
    • Wired
    • Wireless
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • United Kingdom
      • Germany
      • France
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel
      • Others
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the home automation market size by 2024?
A1. The home automation market is anticipated to reach a total market size of US$122.391 billion by 2024.
 
Q2. What is the size of global home automation market?
A2. Home Automation market was valued at US$62.471 billion in 2018.
 
Q3. What are the growth prospects for home automation market?
A3. The global home automation market is anticipated to grow at a CAGR of 11.86% during the forecast period.
 
Q4. Which region holds the largest market share in the home automation market?
A4. Geographically, North America is expected to see substantial growth in the home automation market during the forecast period.
 
Q5. What factors are anticipated to drive home automation market growth?
A5. Rapid mobile connectivity, rising awareness for low power consumption devices, technological advancement, change in consumer lifestyle, rising security concern, and favorable government regulations are the major drivers of the home automation market.
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Currency
1.5. Assumptions
1.6. Base, And Forecast Years Timeline
 
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
 
3. EXECUTIVE SUMMARY
 
4. MARKET DYNAMICS
4.1.  Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
 
5. HOME AUTOMATION MARKET BY APPLICATION
5.1. Lighting
5.2. Safety and Security
5.3. Access control
5.4. Entertainment
5.5. HVAC
5.6. Others
 
6. HOME AUTOMATION MARKET BY NETWORK TECHNOLOGY
6.1. Wired
6.2. Wireless
 
7. HOME AUTOMATION MARKET BY GEOGRAPHY
7.1. North America
7.1.1. USA
7.1.2. Canada
7.1.3. Mexico
7.2. South America
7.2.1. Brazil
7.2.2. Argentina
7.2.3. Others
7.3. Europe 
7.3.1. Germany
7.3.2. United Kingdom
7.3.3. France 
7.3.4. Spain
7.3.5. Others
7.4. Middle East and Africa
7.4.1. Saudi Arabia
7.4.2. Israel
7.4.3. Others
7.5. Asia Pacific
7.5.1. China
7.5.2. Japan
7.5.3. India
7.5.4. South Korea
7.5.5. Others
 
8. COMPETITIVE INTELLIGENCE
8.1. Competitive Benchmarking and Analysis
8.2. Strategies of Key Players
8.3. Recent Investments and Deals 
 
9. COMPANY PROFILES
9.1. Schneider Electric
9.2. Legrand
9.3. ABB
9.4. Honeywell International Inc.
9.5. Siemens
9.6. Johnson Controls
9.7. Control4 Corporation
9.8. Crestron Electronics, Inc.
9.9. Lutron Electronics Co., Inc
9.10. Savant Systems LLC
 

Schneider Electric

Legrand

ABB

Honeywell International Inc.

Siemens

Johnson Controls

Control4 Corporation

Crestron Electronics, Inc.

Lutron Electronics Co., Inc

Savant Systems LLC

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