TOKYO, Aug. 07, 2022 (GLOBE NEWSWIRE) — The Global Home automation market Was worth USD 53.4 billion in 2021 and is expected to be worth USD 136.5 billion by 2030, growing at a CAGR of 11.2% over the projected period of 2022 to 2030.
Growing demand for features such as convenience of remote operations and amazing experience offered by remote monitoring and control is expected to fuel the expansion of the global home automation market over the forecast period. The proportion of this industry is expected to increase due to the increasing use of systems or devices in a wide range of industries such as surveillance, lighting, entertainment, ventilation, air conditioning and power system and the smart kitchen. This technological breakthrough has occurred as customer demands for convenience, connection, security and reliability have increased, which is expected to fuel the expansion of the home automation market.
Home automation technology is an emerging solution that automatically performs the majority of electronic, electrical and technological operations in a home. The term “smart home” refers to a house that has an automation system, also called “home automation”. The main types of products available in home automation are security and access control, lighting control, entertainment, HVAC control and many others. Lighting systems are a form of connected lighting device that allows individuals to control the intensity, brightness and properties of lighting in a designated area. These connected devices reduce electricity consumption while promoting energy efficiency. The different technologies include wired home control systems as well as wireless home automation, which are used in a variety of settings such as domestic, industrial, as well as others.
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|Market||Home automation market|
|Home automation market size 2021||$53.4 billion|
|Home Automation Market Forecast 2030||$136.5 billion|
|Home automation market CAGR||11.2% from 2022 to 2030|
|Analysis period||2018 – 2030|
|Year of reference||2021|
|Forecast data||2022 – 2030|
|Segments Covered||By application, by technology, by channel and by region|
|Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Profiled Key Companies||Honeywell International Inc., Crestron Electronics, Inc., United Technologies Corporation, ABB Ltd., Schneider Electric SE, Amazon Inc., Savant Systems LLC, Johnson Controls, Inc., Siemens AG, Ingersoll-Rand plc, Legrand SA, ADT LLC , Lutron Electronics Co., Google Inc., AMX LLC, Control4 Corporation, 2GIG Technologies, Inc and SmartThings Inc.|
|Report cover||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis|
Dynamics of the global home automation market
The home automation market is driven by an increase in spending on energy-saving technologies, significant development of the IoT market, comfort and ease of use, technological developments, an increase in the frequency of Smartphone applications , as well as an increase in security concerns. Due to high prices for automated homes and a lack of understanding in some emerging and underdeveloped countries, the industry is facing constraints. An increase in the use of automated tools, along with government projects supporting green efforts, bodes well for the expansion of the home automation market. Additionally, the need for energy efficient technologies, along with an increase in the demand for home security and safety is expected to drive the growth of the home automation market.
Additionally, growing trends and development in the acceptance of artificial intelligence, rapid adoption of current technologies by young people, and rapid development of IoT are expected to drive the market. The IoT makes it possible to access the Internet from any device. For example, a smart flashlight can be turned on and off via a mobile phone app. Thus, each home automation system is an IoT device that can be programmed to communicate with each other. As a result, while IoT is about the gadgets themselves, smart home devices are also making life a little easier for customers. On top of that, there have been significant advancements and advancements in the field of artificial intelligence over the past few decades. Several major large companies are investing in R&D to advance existing technologies. Moreover, as consumers’ discretionary income has increased, so has their desire for a more comfortable and healthier lifestyle.
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The global home automation market has been segmented by Acumen Research and Consulting on the basis of application, technology, and channel. In the application, the market is alienated in safety and security access control [biometric access control (fingerprint recognition, iris recognition, facial recognition, others), and non biometric access control]lighting system [relay, sensors, switches, drivers & ballasts, dimmers, others (accessories)]entertainment system heating ventilation and air conditioning (HVAC) [sensors and transducers, thermostats, control valve, energy meter, actuators, others]other controls [smoke detector, smart locks, smart plugs]. Based on Technology, the segment is split into Wired [Ethernet, power line communication (PLC), fiber optics]wireless [Wi-Fi, zigbee, Bluetooth, others], and others. In terms of channel, the segment is categorized into luxury, DIY, mainstream, and managed.
Regional outlook of the global home automation market
The global home automation market is divided into five geographies: North America, Europe, Latin America, Asia-Pacific, and Middle East & Africa. According to the home automation industry analysis, North America will have the highest market share in the global market in 2021. The market in North America is driven by factors such as growing demand for reliable process home energy management, improved standards for smartphones, improved home system security, and the growing popularity of integrating smart devices like tablets, mobile phones, as well as portable voice control into homes . This region is also home to several of the largest companies in the global home automation industry, including Acuity Brands, Control4, ADT, Resideo, and Crestron Electronics. This is expected to further augment the market growth throughout the forecast period.
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Home automation market players
Some of the leading companies in the home automation market are Honeywell International Inc., United Technologies Corporation, ADT LLC, Schneider Electric SE, Google Inc., 2GIG Technologies, Inc, Savant Systems LLC, Siemens AG, AMX LLC, Crestron Electronics, Inc. , ABB Ltd., Amazon Inc., Johnson Controls, Inc., Control4 Corporation, Legrand SA, Lutron Electronics Co., Ingersoll-Rand plc and Smart Things Inc.
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