Home Automation Market, By Application (Lighting, HVAC, Entertainment, safety & security, Others), By Technology (Wired, Wireless), By End User (Residential, Commercial), By Region – Global Analysis Forecast Till 2030

Home Automation Market size was accounted at $46722.1 Mn in 2020 and is projected to reach $239,899 million by 2030, registering a CAGR of 17.9% from 2021 to 2030

Home automation uses intelligent terminals to control household appliances and equipment but is not limited to, centralized control of lighting, security checks/locks for home access, HVAC control, and more. Home automation, also known as intelligent home automation, is an automation system that allows you to access control appliances and devices such as lights, fans, alarm systems, air-conditioning systems, and electrical outlets with your smartphone.

Automated homes provide end users numerous benefits, such as reduced energy consumption, anti-theft, and protection from unauthorized access. As a result, these solutions are gaining popularity in the residential and hospitality sectors to protect personal and commercial assets such as buildings, hardware infrastructure, personal belongings, and more.

The home automation market is driven by increasing demand for energy-efficient solutions, significant growth in the IoT market, convenience, ease of use, technological advancements, an increasing number of smartphone users, and a surge in security concerns. The high cost of automated housing and the lack of awareness in some developed and underdeveloped areas constrains the market. Growing adoption of automation services and government incentives for green initiatives are opportunities for home automation market growth. Moreover, the need for energy-efficient solutions and increasing demand for home safety and security are the major factors expected to boost the demand for the home automation market.

Market Dynamics:

Drivers:

Safe Wise is an independent review organization headquartered in the United States. It functions to conduct tests along with reviews of home security systems. The organization also aims to provide valuable monitoring of home safety and security devices. The review concluded that all homeowners pay a 20% reduction in insurance coverage. Target customers tend to save on this cost, which serves as an excellent way to cover costs incurred while adopting security systems in homes and other residential applications.

Restraints:

Buyers are willing to invest in home-installed systems but want some of these systems pre-installed. Provisions for HVAC and security controls require significant investment. This causes buyers to opt out and adjust according to their preferences and budget. The lack of pre-installed systems is a major home automation systems market constraint.

Key players:

• ABB,

• ADT,

• Creston Electronics, Inc.,

• Honeywell International Inc.,

• Ingresoll Rand,

• Johnson Controls,

• Larsen & Toubro Ltd.,

• Legrand,

• Samsung Electronics Co., Ltd.

• and Schneider Electric.

Market Segmentation:

Home Automation Market, By Application,

• Lighting

• safety & security

• HVAC

• Entertainment

• Others

Home Automation Market, By Technology

• Wired

• Wireless

Home Automation Market, By End User

• Residential

• Commercial

Home Automation Market, By Region

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

• Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Malaysia

  • Philippines

• Latin America

  • Brazil

  • Rest of Latin America

• Middle East & Africa (MEA)

  • GCC

  • North Africa

  • South Africa

Regional Analysis:

The home automation systems industry movement is operating prominently in six major regions of the world: North America, Asia Pacific, South America, Europe, the Middle East, and Africa. Among these, North America is expected to dominate the home automation systems market, due to the growing demand for energy management in the country. Also United Technologies Corporation, Honeywell International Inc., Johnson Controls Inc., Creston Electronics, Inc., and acuity brands, Inc. XX% of the major players in this market, such as Another factor that will contribute to the substantial growth of this industry is the presence in developing countries such as the United States and Canada in the region.

The Asia Pacific region will also experience significant growth during the assessment period due to increased residential and commercial projects. In addition, the growing population and disposable income per capita are other factors that will boost the expansion of the home automation system market in the Asia Pacific region. These home automation are used to conserve energy, reduce electricity bills, and increase homeowners' disposable income.

Scope of the Report:

User

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